MHO vs PHM: Correlation
How closely do M/I Homes, Inc. (MHO) and PulteGroup (PHM) trade together? Their weekly returns over three years give a correlation of 0.89, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MHO and PHM?
On 3 years of weekly data the MHO/PHM correlation comes out at 0.89, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.91 lands near the 3-year figure. The 5-year figure is 0.89, and annualized covariance runs at 1090.1 %².
PHM is one of the assets that tracks MHO most closely: it ranks #1 out of the 21 assets we track against MHO. Over the last 12 months MHO came out ahead by 5.9 percentage points (+3.4% against -2.5%).
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.
MHO vs PHM: side by side
| MHO (M/I Homes, Inc.) | PHM (PulteGroup) | |
|---|---|---|
| 1-year return | +3.4% | -2.5% |
| 5-year return | +131.4% | +145.5% |
| Volatility (ann.) | 38.2% | 32.2% |
| Beta vs S&P 500 | 0.92 | 0.82 |
| Max drawdown (3Y) | -40.6% | -38.0% |
| Market cap | $3.8B | – |
| P/E (trailing) | 12.8 | 13.3 |
| Dividend yield | 0.00% | 0.77% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | MHO | PHM |
|---|---|---|
| 2022 | -25.7% | -19.2% |
| 2023 | +198.3% | +128.8% |
| 2024 | -3.5% | +6.2% |
| 2025 | -3.8% | +8.5% |
| 2026 | +18.0% | +8.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MHO and PHM good diversifiers for each other?
No. With a correlation of 0.89, MHO and PHM move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between MHO and PHM?
Using weekly returns as of 2026-08-27: 0.89 over 3 years, with 0.91 over the last year and 0.89 over 5 years.
Is PHM a good diversifier for MHO?
No. With a correlation of 0.89, MHO and PHM move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.89 mean?
A reading of 0.89 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MHO correlations · PHM correlations
