HOV vs QXO: Correlation
How closely do Hovnanian Enterprises, Inc. (HOV) and QXO, Inc. (QXO) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOV and QXO?
Across a 3-year window, the weekly returns of HOV and QXO correlate at 0.42, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.55 versus 0.42 over 3 years. Stretching to 5 years gives 0.35, with an annualized covariance of 3787.9 %².
Among the 21 assets we track against HOV, QXO ranks #13 by 3-year correlation. The last year tells two different stories: HOV led by 24.4 percentage points, -9.3% for HOV against -33.7% for QXO. One caveat on sizing: QXO is 1.9 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 QXO: side by side
| HOV (Hovnanian Enterprises, Inc.) | QXO (QXO, Inc.) | |
|---|---|---|
| 1-year return | -9.3% | -33.7% |
| 5-year return | +19.3% | -70.0% |
| Volatility (ann.) | 67.9% | 132.0% |
| Beta vs S&P 500 | 1.58 | 1.05 |
| Max drawdown (3Y) | -63.1% | -95.4% |
| Market cap | $0.7B | $14.4B |
| P/E (trailing) | 123.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HOV | QXO |
|---|---|---|
| 2022 | -66.9% | -33.8% |
| 2023 | +269.8% | +508.5% |
| 2024 | -14.0% | -86.1% |
| 2025 | -27.1% | +21.3% |
| 2026 | +29.9% | -28.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOV and QXO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HOV and QXO?
As of 2026-08-27, the correlation of weekly returns between HOV and QXO is 0.42 over 3 years, 0.55 over 1 year and 0.35 over 5 years.
Is QXO a good diversifier for HOV?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
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-qxo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hov-vs-qxo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HOV correlations · QXO correlations
