MTH vs PHM: Correlation
Meritage Homes Corporation (MTH) and PulteGroup (PHM) show a very strong relationship: their 3-year correlation of weekly returns is 0.90.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTH and PHM?
On 3 years of weekly data the MTH/PHM correlation comes out at 0.90, 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 1130.0 %².
Few assets follow MTH as closely as PHM, which ranks #1 of 35 tracked partners. Twelve-month performance is nearly a tie, at -7.0% for MTH and -2.5% for PHM.
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.
MTH vs PHM: side by side
| MTH (Meritage Homes Corporation) | PHM (PulteGroup) | |
|---|---|---|
| 1-year return | -7.0% | -2.5% |
| 5-year return | +34.0% | +145.5% |
| Volatility (ann.) | 39.0% | 32.2% |
| Beta vs S&P 500 | 0.90 | 0.82 |
| Max drawdown (3Y) | -43.0% | -38.0% |
| Market cap | $4.6B | – |
| P/E (trailing) | 15.0 | 13.3 |
| Dividend yield | 2.52% | 0.77% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | MTH | PHM |
|---|---|---|
| 2022 | -24.5% | -19.2% |
| 2023 | +90.5% | +128.8% |
| 2024 | -10.2% | +6.2% |
| 2025 | -12.3% | +8.5% |
| 2026 | +8.7% | +8.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTH and PHM good diversifiers for each other?
No: a correlation of 0.90 means MTH and PHM tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between MTH and PHM?
The MTH/PHM correlation stands at 0.90 on a 3-year window (1 year: 0.91, 5 years: 0.89), computed from weekly returns as of 2026-08-27.
Is PHM a good diversifier for MTH?
No: a correlation of 0.90 means MTH and PHM tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.90 mean?
On the −1 to +1 scale, 0.90 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mth-vs-phm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mth-vs-phm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MTH correlations · PHM correlations
