HOV vs LEN: Correlation
How closely do Hovnanian Enterprises, Inc. (HOV) and Lennar (LEN) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOV and LEN?
On 3 years of weekly data the HOV/LEN correlation comes out at 0.75, strong. Little has changed lately, as the 1-year reading of 0.78 lands near the 3-year figure. The 5-year figure is 0.74, and annualized covariance runs at 1665.8 %².
Few assets follow HOV as closely as LEN, which ranks #1 of 21 tracked partners. Their recent paths diverged sharply: over the last 12 months HOV outperformed by 25.6 percentage points (-9.3% for HOV against -34.9% for LEN). One caveat on sizing: HOV is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 LEN: side by side
| HOV (Hovnanian Enterprises, Inc.) | LEN (Lennar) | |
|---|---|---|
| 1-year return | -9.3% | -34.9% |
| 5-year return | +19.3% | -11.7% |
| Volatility (ann.) | 67.9% | 32.6% |
| Beta vs S&P 500 | 1.58 | 0.84 |
| Max drawdown (3Y) | -63.1% | -54.5% |
| Market cap | $0.7B | $20.5B |
| P/E (trailing) | 123.0 | 13.7 |
| Dividend yield | 0.00% | 2.29% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | HOV | LEN |
|---|---|---|
| 2022 | -66.9% | -20.6% |
| 2023 | +269.8% | +66.9% |
| 2024 | -14.0% | -7.3% |
| 2025 | -27.1% | -20.8% |
| 2026 | +29.9% | -15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOV and LEN good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HOV and LEN?
As of 2026-08-27, the correlation of weekly returns between HOV and LEN is 0.75 over 3 years, 0.78 over 1 year and 0.74 over 5 years.
Is LEN a good diversifier for HOV?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 mean?
A reading of 0.75 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-len.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hov-vs-len/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HOV correlations · LEN correlations
