LEGH vs MTH: Correlation
Measured on weekly returns over the past three years, Legacy Housing Corporation (LEGH) and Meritage Homes Corporation (MTH) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LEGH and MTH?
Across a 3-year window, the weekly returns of LEGH and MTH correlate at 0.54, moderate. Recent behaviour matches the longer record: 0.63 over 1 year against 0.54 over 3. Stretching to 5 years gives 0.45, with an annualized covariance of 735.4 %².
Within LEGH's tracked universe of 13 assets, MTH comes in at #5 by 3-year correlation. The trailing year gives LEGH the advantage: +1.6% versus -7.0%, a 8.6-point spread.
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.
LEGH vs MTH: side by side
| LEGH (Legacy Housing Corporation) | MTH (Meritage Homes Corporation) | |
|---|---|---|
| 1-year return | +1.6% | -7.0% |
| 5-year return | +49.1% | +34.0% |
| Volatility (ann.) | 34.8% | 39.0% |
| Beta vs S&P 500 | 0.84 | 0.90 |
| Max drawdown (3Y) | -34.9% | -43.0% |
| Market cap | $0.7B | $4.6B |
| P/E (trailing) | 13.2 | 15.0 |
| Dividend yield | 0.00% | 2.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LEGH | MTH |
|---|---|---|
| 2022 | -28.4% | -24.5% |
| 2023 | +33.0% | +90.5% |
| 2024 | -2.1% | -10.2% |
| 2025 | -20.9% | -12.3% |
| 2026 | +45.3% | +8.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LEGH and MTH good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between LEGH and MTH?
As of 2026-08-27, the correlation of weekly returns between LEGH and MTH is 0.54 over 3 years, 0.63 over 1 year and 0.45 over 5 years.
Is MTH a good diversifier for LEGH?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
A reading of 0.54 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/legh-vs-mth.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/legh-vs-mth/)
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Related comparisons
Hubs: LEGH correlations · MTH correlations
