HOV vs KMDA: Correlation
Hovnanian Enterprises, Inc. (HOV) and Kamada Ltd. (KMDA) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOV and KMDA?
Over the past 3 years, HOV and KMDA moved with a correlation of 0.42, which is moderate. The link has loosened recently: the 1-year correlation (0.25) runs below the 3-year figure (0.42). Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 1052.8 %².
By 3-year correlation, KMDA places #12 of the 21 assets tracked against HOV. Their recent paths diverged sharply: over the last 12 months KMDA outperformed by 28.7 percentage points (-9.3% for HOV against +19.4% for KMDA). Note the risk asymmetry: HOV runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
HOV vs KMDA: side by side
| HOV (Hovnanian Enterprises, Inc.) | KMDA (Kamada Ltd.) | |
|---|---|---|
| 1-year return | -9.3% | +19.4% |
| 5-year return | +19.3% | +62.4% |
| Volatility (ann.) | 67.9% | 36.7% |
| Beta vs S&P 500 | 1.58 | 0.75 |
| Max drawdown (3Y) | -63.1% | -28.9% |
| Market cap | $0.7B | $0.5B |
| P/E (trailing) | 123.0 | 22.3 |
| Dividend yield | 0.00% | 3.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HOV | KMDA |
|---|---|---|
| 2022 | -66.9% | -39.1% |
| 2023 | +269.8% | +52.6% |
| 2024 | -14.0% | -0.5% |
| 2025 | -27.1% | +19.2% |
| 2026 | +29.9% | +20.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOV and KMDA good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HOV and KMDA?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.25 over the last year and 0.35 over 5 years.
Is KMDA a good diversifier for HOV?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hov-vs-kmda.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hov-vs-kmda/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HOV correlations · KMDA correlations
