HHH vs VNO: Correlation
Howard Hughes Holdings Inc. (HHH) and Vornado Realty Trust (VNO) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HHH and VNO?
On 3 years of weekly data the HHH/VNO correlation comes out at 0.66, strong. The link has loosened recently: the 1-year correlation (0.52) runs below the 3-year figure (0.66). The 5-year figure is 0.62, and annualized covariance runs at 750.7 %².
In HHH's tracked universe of 17 assets, VNO sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months VNO outperformed by 19.3 percentage points (-14.2% for HHH against +5.1% for VNO).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
HHH vs VNO: side by side
| HHH (Howard Hughes Holdings Inc.) | VNO (Vornado Realty Trust) | |
|---|---|---|
| 1-year return | -14.2% | +5.1% |
| 5-year return | -25.2% | +8.4% |
| Volatility (ann.) | 29.3% | 39.1% |
| Beta vs S&P 500 | 0.96 | 1.34 |
| Max drawdown (3Y) | -31.4% | -43.9% |
| Market cap | $3.9B | $7.7B |
| P/E (trailing) | 12.8 | 1290.7 |
| Dividend yield | 0.00% | 1.90% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HHH | VNO |
|---|---|---|
| 2022 | -24.9% | -46.7% |
| 2023 | +11.9% | +39.5% |
| 2024 | -5.7% | +51.3% |
| 2025 | +3.7% | -19.1% |
| 2026 | -18.6% | +16.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HHH and VNO good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HHH and VNO?
As of 2026-08-27, the correlation of weekly returns between HHH and VNO is 0.66 over 3 years, 0.52 over 1 year and 0.62 over 5 years.
Is VNO a good diversifier for HHH?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hhh-vs-vno.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hhh-vs-vno/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HHH correlations · VNO correlations
