HOV vs MHO: Correlation
How closely do Hovnanian Enterprises, Inc. (HOV) and M/I Homes, Inc. (MHO) trade together? Their weekly returns over three years give a correlation of 0.74, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOV and MHO?
Over the past 3 years, HOV and MHO moved with a correlation of 0.74, which is strong. Recent behaviour matches the longer record: 0.74 over 1 year against 0.74 over 3. Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 1915.1 %².
Few assets follow HOV as closely as MHO, which ranks #3 of 21 tracked partners. Over the last 12 months MHO came out ahead by 12.7 percentage points (-9.3% against +3.4%). Risk is not evenly split, since HOV carries 1.8 times the volatility of the other side.
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 MHO: side by side
| HOV (Hovnanian Enterprises, Inc.) | MHO (M/I Homes, Inc.) | |
|---|---|---|
| 1-year return | -9.3% | +3.4% |
| 5-year return | +19.3% | +131.4% |
| Volatility (ann.) | 67.9% | 38.2% |
| Beta vs S&P 500 | 1.58 | 0.92 |
| Max drawdown (3Y) | -63.1% | -40.6% |
| Market cap | $0.7B | $3.8B |
| P/E (trailing) | 123.0 | 12.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HOV | MHO |
|---|---|---|
| 2022 | -66.9% | -25.7% |
| 2023 | +269.8% | +198.3% |
| 2024 | -14.0% | -3.5% |
| 2025 | -27.1% | -3.8% |
| 2026 | +29.9% | +18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOV and MHO good diversifiers for each other?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between HOV and MHO?
The HOV/MHO correlation stands at 0.74 on a 3-year window (1 year: 0.74, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is MHO a good diversifier for HOV?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.74 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/hov-vs-mho.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hov-vs-mho/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HOV correlations · MHO correlations
