JOE vs MHO: Correlation
How closely do St. Joe Company (The) (JOE) and M/I Homes, Inc. (MHO) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JOE and MHO?
On 3 years of weekly data the JOE/MHO correlation comes out at 0.64, strong. The link has loosened recently: the 1-year correlation (0.45) runs below the 3-year figure (0.64). The 5-year figure is 0.59, and annualized covariance runs at 689.3 %².
MHO is one of the assets that tracks JOE most closely: it ranks #3 out of the 12 assets we track against JOE. The last year tells two different stories: JOE led by 31.7 percentage points, +35.1% for JOE against +3.4% for MHO.
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.
JOE vs MHO: side by side
| JOE (St. Joe Company (The)) | MHO (M/I Homes, Inc.) | |
|---|---|---|
| 1-year return | +35.1% | +3.4% |
| 5-year return | +53.5% | +131.4% |
| Volatility (ann.) | 28.2% | 38.2% |
| Beta vs S&P 500 | 0.84 | 0.92 |
| Max drawdown (3Y) | -35.4% | -40.6% |
| Market cap | $3.9B | $3.8B |
| P/E (trailing) | 32.5 | 12.8 |
| Dividend yield | 0.90% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JOE | MHO |
|---|---|---|
| 2022 | -25.1% | -25.7% |
| 2023 | +57.1% | +198.3% |
| 2024 | -24.6% | -3.5% |
| 2025 | +33.7% | -3.8% |
| 2026 | +15.2% | +18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JOE and MHO good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between JOE and MHO?
As of 2026-08-27, the correlation of weekly returns between JOE and MHO is 0.64 over 3 years, 0.45 over 1 year and 0.59 over 5 years.
Is MHO a good diversifier for JOE?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 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/joe-vs-mho.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/joe-vs-mho/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JOE correlations · MHO correlations
