Homebuilding

D.R. Horton Inc. vs Lennar Corporation

WatchlistDHI / LENPrices through Oct 22, 2026

Why these are rivals: #1 and #3 by market value ($38B vs $18B) in Nasdaq's "Homebuilding" industry; SEC SIC 1531 / 1520 (same major group).

Rivals, but right now the price gap does not have a measured habit of closing, so there is no paper idea, whatever the gap.

Mean reversion: ADF t-statistic of the spread: -1.08 (needs <= -2.873 (5% critical value))
Speed: half-life of the spread, sessions: 113.60 (needs <= 63)

Business leadership

DHI is the larger business

Annual revenue reported to the SEC. Scale, not market share.

Year	DHI	LEN	Larger
2025	$34.3B	$34.2B	DHI
2024	$36.8B	$35.4B	DHI
2023	$35.5B	$34.2B	DHI
2022	$33.5B	$33.7B	LEN
2021	$27.8B	$27.1B	DHI
2020	$20.3B	$22.5B	LEN

Revenue lead switched: 2021 to DHI, 2022 to LEN, 2023 to DHI. Market value: DHI $37.8B, LEN $18.0B.

Stock leadership

DHI is ahead now

Measured against the pair's own last 252 trading days.

DHI leads LEN by 0.97 standard deviations: +14.1% over its usual price ratio. 0 lead switches in the last year.

Price change	3 mo	6 mo	12 mo
DHI	+0.6%	-10.1%	-6.9%
LEN	-0.2%	-10.3%	-34.1%

Relationship

Not a measured twin today

Only these tests can make a pair tradable on paper.

Pass: Aligned sessions: 2521 (needs >= 254)
Pass: Co-movement: daily return correlation, 252 sessions: 0.87 (needs >= 0.60)
Fail: Mean reversion: ADF t-statistic of the spread: -1.08 (needs <= -2.873 (5% critical value))
Fail: Speed: half-life of the spread, sessions: 113.60 (needs <= 63)
Data: Both stocks current

The twins over two years

Prices side by side, and the gap between them

DHI D.R. Horton Inc. LEN Lennar CorporationPrice index, 100 = 2024-10-18. Tint = which stock is ahead of the pair's usual 1-year relationship (z beyond +/-0.5).

Spread z-score: DHI relative to LEN, against the 252 sessions before each day. Above 0: DHI ahead; below 0: LEN ahead. Lines at +/-2 (idea) and +/-4 (stop).

Data table (504 sessions)

Date	DHI index	LEN index	z	Ahead
2026-10-22	75.89	46.52	+0.97	DHI ahead
2026-10-21	71.43	42.80	+1.14	DHI ahead
2026-10-20	72.04	43.32	+1.12	DHI ahead
2026-10-19	69.55	41.79	+1.14	DHI ahead
2026-10-16	71.64	42.46	+1.25	DHI ahead
2026-10-15	71.73	42.79	+1.21	DHI ahead
2026-10-14	68.69	40.50	+1.30	DHI ahead
2026-10-13	69.62	41.27	+1.28	DHI ahead
2026-10-12	69.02	41.12	+1.25	DHI ahead
2026-10-09	69.33	42.24	+1.09	DHI ahead
2026-10-08	69.81	42.74	+1.07	DHI ahead
2026-10-07	68.50	41.93	+1.08	DHI ahead
2026-10-06	70.29	42.64	+1.15	DHI ahead
2026-10-05	68.48	41.00	+1.26	DHI ahead
2026-10-02	69.39	43.96	+0.85	DHI ahead
2026-10-01	70.45	45.23	+0.76	DHI ahead
2026-09-30	70.24	44.94	+0.79	DHI ahead
2026-09-29	71.65	45.72	+0.82	DHI ahead
2026-09-28	71.66	45.18	+0.91	DHI ahead
2026-09-25	72.73	45.25	+1.02	DHI ahead
2026-09-24	72.14	44.88	+1.03	DHI ahead
2026-09-23	72.04	44.90	+1.02	DHI ahead
2026-09-22	74.07	45.75	+1.10	DHI ahead
2026-09-21	71.57	43.01	+1.31	DHI ahead
2026-09-18	70.94	42.10	+1.41	DHI ahead
2026-09-17	72.15	43.90	+1.24	DHI ahead
2026-09-16	71.09	43.16	+1.27	DHI ahead
2026-09-15	72.06	44.10	+1.22	DHI ahead
2026-09-14	71.65	44.06	+1.19	DHI ahead
2026-09-11	70.87	43.85	+1.16	DHI ahead
2026-09-10	69.68	42.91	+1.20	DHI ahead
2026-09-09	71.41	44.48	+1.12	DHI ahead
2026-09-08	71.18	44.27	+1.15	DHI ahead
2026-09-04	73.37	46.04	+1.09	DHI ahead
2026-09-03	74.22	46.52	+1.11	DHI ahead
2026-09-02	73.12	46.04	+1.08	DHI ahead
2026-09-01	72.66	45.58	+1.12	DHI ahead
2026-08-31	74.30	46.33	+1.17	DHI ahead
2026-08-28	75.76	47.55	+1.13	DHI ahead
2026-08-27	74.66	46.88	+1.14	DHI ahead
2026-08-26	76.71	48.00	+1.17	DHI ahead
2026-08-25	77.51	48.30	+1.21	DHI ahead
2026-08-24	76.57	48.56	+1.09	DHI ahead
2026-08-21	76.25	47.93	+1.17	DHI ahead
2026-08-20	75.72	47.05	+1.26	DHI ahead
2026-08-19	78.05	48.09	+1.34	DHI ahead
2026-08-18	74.88	46.79	+1.24	DHI ahead
2026-08-17	76.24	47.67	+1.25	DHI ahead
2026-08-14	76.49	47.83	+1.26	DHI ahead
2026-08-13	77.04	48.22	+1.26	DHI ahead
2026-08-12	74.95	46.93	+1.27	DHI ahead
2026-08-11	77.50	48.22	+1.33	DHI ahead
2026-08-10	75.38	47.15	+1.30	DHI ahead
2026-08-07	77.65	48.57	+1.31	DHI ahead
2026-08-06	75.05	46.72	+1.36	DHI ahead
2026-08-05	77.84	48.41	+1.38	DHI ahead
2026-08-04	77.29	47.93	+1.41	DHI ahead
2026-08-03	75.38	46.93	+1.39	DHI ahead
2026-07-31	73.53	45.36	+1.47	DHI ahead
2026-07-30	74.80	46.13	+1.49	DHI ahead
2026-07-29	75.64	46.58	+1.52	DHI ahead
2026-07-28	77.69	48.28	+1.46	DHI ahead
2026-07-27	75.89	46.84	+1.52	DHI ahead
2026-07-24	75.43	46.62	+1.53	DHI ahead
2026-07-23	73.05	45.24	+1.53	DHI ahead
2026-07-22	73.25	45.25	+1.56	DHI ahead
2026-07-21	73.77	45.08	+1.66	DHI ahead
2026-07-20	74.42	45.66	+1.64	DHI ahead
2026-07-17	76.78	46.21	+1.81	DHI ahead
2026-07-16	79.37	47.59	+1.86	DHI ahead
2026-07-15	77.89	46.98	+1.83	DHI ahead
2026-07-14	77.09	46.11	+1.92	DHI ahead
2026-07-13	76.51	45.63	+1.96	DHI ahead
2026-07-10	77.91	46.42	+1.99	DHI ahead
2026-07-09	76.87	46.46	+1.90	DHI ahead
2026-07-08	76.33	46.04	+1.94	DHI ahead
2026-07-07	80.04	47.78	+2.04	DHI ahead
2026-07-06	80.63	48.28	+2.04	DHI ahead
2026-07-02	81.50	48.59	+2.10	DHI ahead
2026-07-01	80.73	47.95	+2.15	DHI ahead
2026-06-30	83.72	49.84	+2.16	DHI ahead
2026-06-29	84.41	50.04	+2.22	DHI ahead
2026-06-26	85.47	51.51	+2.11	DHI ahead
2026-06-25	85.81	51.70	+2.14	DHI ahead
2026-06-24	85.58	51.20	+2.22	DHI ahead
2026-06-23	80.22	48.11	+2.23	DHI ahead
2026-06-22	80.15	48.16	+2.24	DHI ahead
2026-06-18	81.11	49.42	+2.15	DHI ahead
2026-06-17	78.37	47.63	+2.19	DHI ahead
2026-06-16	80.35	49.45	+2.11	DHI ahead
2026-06-15	79.71	49.44	+2.06	DHI ahead
2026-06-12	79.20	49.74	+1.97	DHI ahead
2026-06-11	79.37	52.30	+1.57	DHI ahead
2026-06-10	75.41	49.49	+1.62	DHI ahead
2026-06-09	77.65	50.98	+1.62	DHI ahead
2026-06-08	74.16	49.98	+1.41	DHI ahead
2026-06-05	74.84	49.84	+1.52	DHI ahead
2026-06-04	75.25	50.61	+1.45	DHI ahead
2026-06-03	74.27	49.28	+1.58	DHI ahead
2026-06-02	76.02	50.07	+1.65	DHI ahead
2026-06-01	75.54	49.63	+1.69	DHI ahead
2026-05-29	75.60	49.45	+1.74	DHI ahead
2026-05-28	75.51	49.44	+1.75	DHI ahead
2026-05-27	75.97	50.10	+1.70	DHI ahead
2026-05-26	74.84	49.18	+1.75	DHI ahead
2026-05-22	73.87	48.95	+1.69	DHI ahead
2026-05-21	74.09	48.93	+1.74	DHI ahead
2026-05-20	72.86	48.09	+1.76	DHI ahead
2026-05-19	69.24	45.72	+1.77	DHI ahead
2026-05-18	70.67	46.17	+1.88	DHI ahead
2026-05-15	69.59	45.33	+1.93	DHI ahead
2026-05-14	71.63	46.96	+1.89	DHI ahead
2026-05-13	72.33	46.80	+2.03	DHI ahead
2026-05-12	73.64	47.29	+2.12	DHI ahead
2026-05-11	74.51	47.97	+2.12	DHI ahead
2026-05-08	75.88	48.68	+2.18	DHI ahead
2026-05-07	75.03	48.33	+2.17	DHI ahead
2026-05-06	76.67	49.87	+2.11	DHI ahead
2026-05-05	75.28	47.48	+2.42	DHI ahead
2026-05-04	73.77	46.47	+2.47	DHI ahead
2026-05-01	77.09	48.72	+2.48	DHI ahead
2026-04-30	79.08	49.74	+2.57	DHI ahead
2026-04-29	77.95	48.86	+2.64	DHI ahead
2026-04-28	80.39	50.85	+2.60	DHI ahead
2026-04-27	81.89	51.36	+2.73	DHI ahead
2026-04-24	82.19	51.80	+2.73	DHI ahead
2026-04-23	84.41	51.88	+3.04	DHI ahead
2026-04-22	82.84	52.02	+2.88	DHI ahead
2026-04-21	83.37	52.22	+2.97	DHI ahead
2026-04-20	78.81	51.84	+2.50	DHI ahead
2026-04-17	77.00	51.11	+2.44	DHI ahead
2026-04-16	73.68	48.91	+2.47	DHI ahead
2026-04-15	74.12	48.71	+2.62	DHI ahead
2026-04-14	74.66	48.93	+2.70	DHI ahead
2026-04-13	74.18	49.46	+2.55	DHI ahead
2026-04-10	73.31	49.01	+2.56	DHI ahead
2026-04-09	73.88	48.98	+2.69	DHI ahead
2026-04-08	73.33	48.82	+2.69	DHI ahead
2026-04-07	70.45	47.16	+2.67	DHI ahead
2026-04-06	72.84	48.79	+2.71	DHI ahead
2026-04-02	71.80	47.64	+2.87	DHI ahead
2026-04-01	71.06	47.06	+2.94	DHI ahead
2026-03-31	70.53	47.83	+2.71	DHI ahead
2026-03-30	68.12	46.75	+2.60	DHI ahead
2026-03-27	68.97	49.71	+2.03	DHI ahead
2026-03-26	69.88	50.18	+2.10	DHI ahead
2026-03-25	70.77	50.78	+2.13	DHI ahead
2026-03-24	71.10	50.88	+2.19	DHI ahead
2026-03-23	71.35	51.48	+2.11	DHI ahead
2026-03-20	68.42	49.88	+2.01	DHI ahead
2026-03-19	70.92	51.62	+2.04	DHI ahead
2026-03-18	70.54	52.19	+1.86	DHI ahead
2026-03-17	73.06	53.45	+2.01	DHI ahead
2026-03-16	73.03	52.85	+2.17	DHI ahead
2026-03-13	72.21	52.31	+2.18	DHI ahead
2026-03-12	71.46	50.97	+2.40	DHI ahead
2026-03-11	73.33	53.19	+2.21	DHI ahead
2026-03-10	74.67	54.38	+2.19	DHI ahead
2026-03-09	75.91	55.05	+2.26	DHI ahead
2026-03-06	75.69	55.73	+2.09	DHI ahead
2026-03-05	77.04	57.45	+1.94	DHI ahead
2026-03-04	78.48	58.68	+1.93	DHI ahead
2026-03-03	78.44	59.71	+1.71	DHI ahead
2026-03-02	79.36	60.93	+1.62	DHI ahead
2026-02-27	82.44	62.99	+1.69	DHI ahead
2026-02-26	81.71	61.69	+1.85	DHI ahead
2026-02-25	80.93	60.99	+1.89	DHI ahead
2026-02-24	84.27	64.12	+1.78	DHI ahead
2026-02-23	84.42	64.00	+1.84	DHI ahead
2026-02-20	84.35	64.15	+1.82	DHI ahead
2026-02-19	84.18	63.96	+1.84	DHI ahead
2026-02-18	85.96	66.79	+1.57	DHI ahead
2026-02-17	85.47	66.89	+1.49	DHI ahead
2026-02-13	86.24	67.35	+1.53	DHI ahead
2026-02-12	84.60	66.56	+1.45	DHI ahead
2026-02-11	84.22	66.64	+1.38	DHI ahead
2026-02-10	83.41	65.77	+1.44	DHI ahead
2026-02-09	78.90	62.84	+1.32	DHI ahead
2026-02-06	80.32	62.80	+1.57	DHI ahead
2026-02-05	81.28	63.55	+1.58	DHI ahead
2026-02-04	81.32	63.49	+1.61	DHI ahead
2026-02-03	79.07	61.98	+1.58	DHI ahead
2026-02-02	76.98	59.93	+1.68	DHI ahead
2026-01-30	76.50	60.23	+1.55	DHI ahead
2026-01-29	77.31	61.27	+1.48	DHI ahead
2026-01-28	77.18	61.03	+1.52	DHI ahead
2026-01-27	76.37	60.63	+1.48	DHI ahead
2026-01-26	77.10	60.91	+1.56	DHI ahead
2026-01-23	77.36	61.60	+1.47	DHI ahead
2026-01-22	80.05	63.18	+1.59	DHI ahead
2026-01-21	81.27	65.00	+1.44	DHI ahead
2026-01-20	78.74	63.43	+1.36	DHI ahead
2026-01-16	80.16	65.32	+1.23	DHI ahead
2026-01-15	82.75	67.34	+1.25	DHI ahead
2026-01-14	81.88	66.86	+1.22	DHI ahead
2026-01-13	82.67	67.93	+1.15	DHI ahead
2026-01-12	82.09	66.59	+1.32	DHI ahead
2026-01-09	80.84	65.68	+1.31	DHI ahead
2026-01-08	74.99	60.34	+1.45	DHI ahead
2026-01-07	71.60	57.25	+1.54	DHI ahead
2026-01-06	74.27	58.58	+1.73	DHI ahead
2026-01-05	75.29	58.06	+2.04	DHI ahead
2026-01-02	74.90	57.41	+2.14	DHI ahead
2025-12-31	74.03	56.62	+2.20	DHI ahead
2025-12-30	74.80	57.22	+2.22	DHI ahead
2025-12-29	75.02	57.24	+2.28	DHI ahead
2025-12-26	75.21	57.78	+2.22	DHI ahead
2025-12-24	75.36	57.89	+2.25	DHI ahead
2025-12-23	74.25	57.69	+2.12	DHI ahead
2025-12-22	74.72	58.93	+1.94	DHI ahead
2025-12-19	75.65	59.48	+1.99	DHI ahead
2025-12-18	77.82	59.67	+2.35	DHI ahead
2025-12-17	78.13	61.82	+1.95	DHI ahead
2025-12-16	79.73	64.76	+1.61	DHI ahead
2025-12-15	80.42	65.95	+1.50	DHI ahead
2025-12-12	80.41	65.75	+1.54	DHI ahead
2025-12-11	79.77	65.63	+1.47	DHI ahead
2025-12-10	79.81	66.11	+1.39	DHI ahead
2025-12-09	76.76	64.55	+1.20	DHI ahead
2025-12-08	78.35	66.49	+1.09	DHI ahead
2025-12-05	81.53	68.25	+1.27	DHI ahead
2025-12-04	82.61	69.82	+1.16	DHI ahead
2025-12-03	84.81	73.33	+0.87	DHI ahead
2025-12-02	81.45	71.46	+0.69	DHI ahead
2025-12-01	80.89	71.73	+0.56	DHI ahead
2025-11-28	81.73	72.32	+0.59	DHI ahead
2025-11-26	80.57	72.31	+0.42	near the usual relationship
2025-11-25	79.43	72.20	+0.27	near the usual relationship
2025-11-24	75.08	67.73	+0.37	near the usual relationship
2025-11-21	75.41	67.84	+0.41	near the usual relationship
2025-11-20	70.58	64.03	+0.31	near the usual relationship
2025-11-19	70.69	63.43	+0.45	near the usual relationship
2025-11-18	71.16	63.88	+0.45	near the usual relationship
2025-11-17	70.81	62.85	+0.60	DHI ahead
2025-11-14	73.21	66.71	+0.28	near the usual relationship
2025-11-13	73.70	66.78	+0.36	near the usual relationship
2025-11-12	75.06	68.37	+0.30	near the usual relationship
2025-11-11	75.55	69.09	+0.26	near the usual relationship
2025-11-10	74.31	67.87	+0.28	near the usual relationship
2025-11-07	74.41	66.95	+0.46	near the usual relationship
2025-11-06	74.64	66.28	+0.62	DHI ahead
2025-11-05	74.67	66.75	+0.55	DHI ahead
2025-11-04	74.83	67.01	+0.54	DHI ahead
2025-11-03	74.56	66.42	+0.60	DHI ahead
2025-10-31	76.62	68.17	+0.62	DHI ahead
2025-10-30	76.73	68.37	+0.61	DHI ahead
2025-10-29	76.22	68.40	+0.53	DHI ahead
2025-10-28	79.02	70.63	+0.59	DHI ahead
2025-10-27	81.65	70.90	+0.93	DHI ahead
2025-10-24	81.18	70.27	+0.97	DHI ahead
2025-10-23	81.49	70.14	+1.05	DHI ahead
2025-10-22	81.32	70.03	+1.05	DHI ahead
2025-10-21	81.53	70.64	+0.99	DHI ahead
2025-10-20	79.03	69.32	+0.85	DHI ahead
2025-10-17	78.99	69.30	+0.85	DHI ahead
2025-10-16	78.60	67.68	+1.08	DHI ahead
2025-10-15	79.79	67.44	+1.31	DHI ahead
2025-10-14	80.56	67.33	+1.46	DHI ahead
2025-10-13	78.43	65.01	+1.57	DHI ahead
2025-10-10	77.91	65.42	+1.43	DHI ahead
2025-10-09	77.81	64.95	+1.51	DHI ahead
2025-10-08	81.55	66.16	+1.87	DHI ahead
2025-10-07	82.83	67.28	+1.88	DHI ahead
2025-10-06	88.16	69.62	+2.25	DHI ahead
2025-10-03	89.92	71.64	+2.17	DHI ahead
2025-10-02	88.13	70.69	+2.12	DHI ahead
2025-10-01	88.63	70.62	+2.23	DHI ahead
2025-09-30	87.10	69.42	+2.26	DHI ahead
2025-09-29	87.29	70.33	+2.15	DHI ahead
2025-09-26	85.94	69.42	+2.14	DHI ahead
2025-09-25	84.81	68.31	+2.21	DHI ahead
2025-09-24	86.07	69.23	+2.26	DHI ahead
2025-09-23	85.46	67.89	+2.46	DHI ahead
2025-09-22	84.41	67.15	+2.49	DHI ahead
2025-09-19	86.50	70.13	+2.27	DHI ahead
2025-09-18	87.18	73.19	+1.82	DHI ahead
2025-09-17	87.37	73.24	+1.86	DHI ahead
2025-09-16	88.25	73.70	+1.93	DHI ahead
2025-09-15	88.45	73.68	+1.99	DHI ahead
2025-09-12	91.42	75.61	+2.12	DHI ahead
2025-09-11	93.04	77.16	+2.10	DHI ahead
2025-09-10	90.53	75.23	+2.10	DHI ahead
2025-09-09	91.43	75.71	+2.18	DHI ahead
2025-09-08	94.59	78.44	+2.20	DHI ahead
2025-09-05	93.44	78.15	+2.10	DHI ahead
2025-09-04	90.82	76.05	+2.11	DHI ahead
2025-09-03	88.49	73.85	+2.19	DHI ahead
2025-09-02	87.51	73.08	+2.21	DHI ahead
2025-08-29	87.11	73.34	+2.12	DHI ahead
2025-08-28	86.82	73.33	+2.09	DHI ahead
2025-08-27	86.09	73.44	+1.97	DHI ahead
2025-08-26	86.54	73.41	+2.08	DHI ahead
2025-08-25	86.84	74.25	+1.98	DHI ahead
2025-08-22	87.73	74.77	+2.06	DHI ahead
2025-08-21	83.20	71.13	+2.03	DHI ahead
2025-08-20	83.97	71.78	+2.06	DHI ahead
2025-08-19	86.41	73.95	+2.07	DHI ahead
2025-08-18	84.89	72.39	+2.16	DHI ahead
2025-08-15	85.13	72.68	+2.17	DHI ahead
2025-08-14	84.24	71.85	+2.21	DHI ahead
2025-08-13	85.09	72.10	+2.36	DHI ahead
2025-08-12	81.34	68.56	+2.49	DHI ahead
2025-08-11	79.65	66.39	+2.72	DHI ahead
2025-08-08	80.44	66.57	+2.91	DHI ahead
2025-08-07	79.10	65.83	+2.86	DHI ahead
2025-08-06	79.18	65.74	+2.97	DHI ahead
2025-08-05	79.58	66.15	+3.01	DHI ahead
2025-08-04	78.78	65.42	+3.10	DHI ahead
2025-08-01	77.25	63.88	+3.26	DHI ahead
2025-07-31	73.42	61.79	+2.98	DHI ahead
2025-07-30	73.66	61.90	+3.08	DHI ahead
2025-07-29	75.73	63.82	+3.10	DHI ahead
2025-07-28	75.14	63.97	+2.95	DHI ahead
2025-07-25	74.69	63.53	+3.04	DHI ahead
2025-07-24	74.37	62.52	+3.37	DHI ahead
2025-07-23	76.16	64.59	+3.26	DHI ahead
2025-07-22	78.90	65.29	+3.92	DHI ahead
2025-07-21	67.44	60.28	+2.24	DHI ahead
2025-07-18	67.74	60.35	+2.33	DHI ahead
2025-07-17	67.67	60.42	+2.30	DHI ahead
2025-07-16	67.59	60.28	+2.36	DHI ahead
2025-07-15	66.72	59.34	+2.45	DHI ahead
2025-07-14	69.95	62.18	+2.50	DHI ahead
2025-07-11	70.32	62.77	+2.43	DHI ahead
2025-07-10	71.76	64.14	+2.43	DHI ahead
2025-07-09	71.14	63.54	+2.47	DHI ahead
2025-07-08	67.52	60.82	+2.30	DHI ahead
2025-07-07	67.32	60.16	+2.51	DHI ahead
2025-07-03	67.79	60.66	+2.51	DHI ahead
2025-07-02	69.70	63.51	+2.10	DHI ahead
2025-07-01	68.82	63.61	+1.78	DHI ahead
2025-06-30	66.26	60.93	+1.92	DHI ahead
2025-06-27	66.14	60.71	+1.97	DHI ahead
2025-06-26	65.35	60.49	+1.79	DHI ahead
2025-06-25	65.42	60.46	+1.84	DHI ahead
2025-06-24	66.63	61.52	+1.87	DHI ahead
2025-06-23	66.13	60.94	+1.93	DHI ahead
2025-06-20	63.84	58.62	+2.02	DHI ahead
2025-06-18	62.34	56.96	+2.14	DHI ahead
2025-06-17	61.64	57.62	+1.63	DHI ahead
2025-06-16	63.55	60.31	+1.30	DHI ahead
2025-06-13	63.26	59.82	+1.38	DHI ahead
2025-06-12	64.88	61.77	+1.23	DHI ahead
2025-06-11	64.15	61.42	+1.11	DHI ahead
2025-06-10	65.24	62.55	+1.09	DHI ahead
2025-06-09	63.04	60.79	+0.96	DHI ahead
2025-06-06	62.06	59.78	+0.99	DHI ahead
2025-06-05	63.09	60.62	+1.05	DHI ahead
2025-06-04	63.49	60.72	+1.16	DHI ahead
2025-06-03	60.83	58.74	+0.96	DHI ahead
2025-06-02	60.08	57.85	+1.02	DHI ahead
2025-05-30	60.68	58.43	+1.03	DHI ahead
2025-05-29	60.79	58.43	+1.07	DHI ahead
2025-05-28	60.34	57.97	+1.08	DHI ahead
2025-05-27	62.44	59.54	+1.25	DHI ahead
2025-05-23	60.98	57.93	+1.33	DHI ahead
2025-05-22	61.11	58.00	+1.36	DHI ahead
2025-05-21	61.46	58.18	+1.42	DHI ahead
2025-05-20	63.06	60.28	+1.23	DHI ahead
2025-05-19	64.21	61.23	+1.28	DHI ahead
2025-05-16	64.63	61.61	+1.30	DHI ahead
2025-05-15	63.42	60.65	+1.24	DHI ahead
2025-05-14	62.74	59.69	+1.35	DHI ahead
2025-05-13	64.95	61.90	+1.33	DHI ahead
2025-05-12	64.83	61.99	+1.27	DHI ahead
2025-05-09	62.72	59.84	+1.32	DHI ahead
2025-05-08	63.65	60.35	+1.46	DHI ahead
2025-05-07	63.10	59.38	+1.62	DHI ahead
2025-05-06	62.64	58.50	+1.78	DHI ahead
2025-05-05	64.59	60.15	+1.85	DHI ahead
2025-05-02	65.43	60.70	+1.95	DHI ahead
2025-05-01	64.53	59.59	+2.06	DHI ahead
2025-04-30	64.94	59.82	+2.14	DHI ahead
2025-04-29	64.12	59.26	+2.10	DHI ahead
2025-04-28	64.33	59.57	+2.09	DHI ahead
2025-04-25	64.02	59.28	+2.11	DHI ahead
2025-04-24	64.78	60.16	+2.08	DHI ahead
2025-04-23	64.14	59.25	+2.21	DHI ahead
2025-04-22	64.23	59.44	+2.20	DHI ahead
2025-04-21	62.07	57.13	+2.36	DHI ahead
2025-04-17	62.32	57.69	+2.27	DHI ahead
2025-04-16	60.41	56.60	+2.04	DHI ahead
2025-04-15	61.58	57.88	+1.99	DHI ahead
2025-04-14	62.20	58.43	+2.03	DHI ahead
2025-04-11	61.56	57.97	+2.00	DHI ahead
2025-04-10	60.58	57.55	+1.83	DHI ahead
2025-04-09	62.27	59.85	+1.59	DHI ahead
2025-04-08	59.16	56.71	+1.67	DHI ahead
2025-04-07	62.09	58.98	+1.89	DHI ahead
2025-04-04	65.72	61.16	+2.37	DHI ahead
2025-04-03	62.86	59.71	+1.94	DHI ahead
2025-04-02	65.77	63.71	+1.52	DHI ahead
2025-04-01	65.49	63.07	+1.66	DHI ahead
2025-03-31	65.34	63.22	+1.58	DHI ahead
2025-03-28	64.76	62.75	+1.56	DHI ahead
2025-03-27	66.86	64.99	+1.50	DHI ahead
2025-03-26	66.50	64.92	+1.41	DHI ahead
2025-03-25	66.57	64.85	+1.47	DHI ahead
2025-03-24	67.00	64.75	+1.67	DHI ahead
2025-03-21	66.22	63.47	+1.89	DHI ahead
2025-03-20	67.40	66.14	+1.36	DHI ahead
2025-03-19	67.01	66.26	+1.19	DHI ahead
2025-03-18	65.71	65.27	+1.09	DHI ahead
2025-03-17	65.31	65.53	+0.86	DHI ahead
2025-03-14	65.16	65.05	+0.99	DHI ahead
2025-03-13	64.40	64.08	+1.07	DHI ahead
2025-03-12	66.13	65.51	+1.18	DHI ahead
2025-03-11	68.12	66.89	+1.40	DHI ahead
2025-03-10	68.85	68.97	+0.94	DHI ahead
2025-03-07	68.58	68.96	+0.86	DHI ahead
2025-03-06	68.85	69.48	+0.79	DHI ahead
2025-03-05	66.49	67.22	+0.75	DHI ahead
2025-03-04	64.72	65.41	+0.76	DHI ahead
2025-03-03	64.60	64.96	+0.89	DHI ahead
2025-02-28	65.18	65.89	+0.77	DHI ahead
2025-02-27	64.99	66.30	+0.56	DHI ahead
2025-02-26	66.07	66.94	+0.73	DHI ahead
2025-02-25	67.90	68.48	+0.85	DHI ahead
2025-02-24	64.98	65.99	+0.69	DHI ahead
2025-02-21	64.75	66.41	+0.47	near the usual relationship
2025-02-20	66.14	67.58	+0.56	DHI ahead
2025-02-19	65.19	66.62	+0.56	DHI ahead
2025-02-18	66.72	67.48	+0.81	DHI ahead
2025-02-14	67.11	68.21	+0.70	DHI ahead
2025-02-13	66.48	68.16	+0.50	DHI ahead
2025-02-12	65.66	66.98	+0.63	DHI ahead
2025-02-11	67.13	68.81	+0.52	DHI ahead
2025-02-10	66.93	67.58	+0.87	DHI ahead
2025-02-07	66.30	67.17	+0.80	DHI ahead
2025-02-06	69.99	70.09	+1.07	DHI ahead
2025-02-05	71.40	70.22	+1.50	DHI ahead
2025-02-04	71.83	70.66	+1.51	DHI ahead
2025-02-03	70.65	69.51	+1.52	DHI ahead
2025-01-31	72.93	72.29	+1.36	DHI ahead
2025-01-30	75.01	74.50	+1.32	DHI ahead
2025-01-29	72.95	72.83	+1.21	DHI ahead
2025-01-28	73.99	74.93	+0.89	DHI ahead
2025-01-27	75.69	75.91	+1.12	DHI ahead
2025-01-24	73.46	72.91	+1.38	DHI ahead
2025-01-23	74.65	74.09	+1.38	DHI ahead
2025-01-22	75.52	74.98	+1.38	DHI ahead
2025-01-21	73.86	73.34	+1.38	DHI ahead
2025-01-17	75.89	74.92	+1.53	DHI ahead
2025-01-16	75.35	74.47	+1.51	DHI ahead
2025-01-15	74.74	73.34	+1.68	DHI ahead
2025-01-14	73.58	71.55	+1.92	DHI ahead
2025-01-13	71.13	69.64	+1.77	DHI ahead
2025-01-10	70.17	68.58	+1.82	DHI ahead
2025-01-08	71.91	70.68	+1.69	DHI ahead
2025-01-07	70.85	70.47	+1.41	DHI ahead
2025-01-06	71.63	71.49	+1.33	DHI ahead
2025-01-03	71.90	71.92	+1.28	DHI ahead
2025-01-02	70.74	71.12	+1.16	DHI ahead
2024-12-31	71.86	72.18	+1.18	DHI ahead
2024-12-30	71.73	72.09	+1.17	DHI ahead
2024-12-27	72.10	72.61	+1.12	DHI ahead
2024-12-26	72.71	73.38	+1.07	DHI ahead
2024-12-24	72.50	73.04	+1.11	DHI ahead
2024-12-23	72.00	73.04	+0.94	DHI ahead
2024-12-20	71.76	73.09	+0.84	DHI ahead
2024-12-19	70.54	73.25	+0.37	near the usual relationship
2024-12-18	72.87	77.24	-0.14	near the usual relationship
2024-12-17	75.41	80.17	-0.22	near the usual relationship
2024-12-16	75.87	80.41	-0.14	near the usual relationship
2024-12-13	77.03	81.72	-0.16	near the usual relationship
2024-12-12	77.72	82.29	-0.12	near the usual relationship
2024-12-11	78.99	83.71	-0.15	near the usual relationship
2024-12-10	80.69	85.57	-0.16	near the usual relationship
2024-12-09	82.73	87.87	-0.20	near the usual relationship
2024-12-06	81.47	86.51	-0.20	near the usual relationship
2024-12-05	82.07	87.33	-0.25	near the usual relationship
2024-12-04	82.93	88.60	-0.35	near the usual relationship
2024-12-03	85.80	91.88	-0.41	near the usual relationship
2024-12-02	86.04	91.82	-0.33	near the usual relationship
2024-11-29	86.75	92.30	-0.26	near the usual relationship
2024-11-27	87.08	92.15	-0.13	near the usual relationship
2024-11-26	86.71	91.78	-0.14	near the usual relationship
2024-11-25	88.89	94.56	-0.27	near the usual relationship
2024-11-22	84.05	89.54	-0.30	near the usual relationship
2024-11-21	83.19	88.96	-0.40	near the usual relationship
2024-11-20	83.84	89.04	-0.23	near the usual relationship
2024-11-19	83.42	89.32	-0.44	near the usual relationship
2024-11-18	82.98	88.88	-0.45	near the usual relationship
2024-11-15	83.06	89.37	-0.56	LEN ahead
2024-11-14	84.16	89.87	-0.38	near the usual relationship
2024-11-13	82.82	88.04	-0.28	near the usual relationship
2024-11-12	83.18	87.96	-0.15	near the usual relationship
2024-11-11	86.07	91.20	-0.20	near the usual relationship
2024-11-08	86.75	91.35	-0.05	near the usual relationship
2024-11-07	86.41	90.73	+0.01	near the usual relationship
2024-11-06	85.69	89.29	+0.19	near the usual relationship
2024-11-05	89.06	93.83	-0.07	near the usual relationship
2024-11-04	87.76	91.37	+0.21	near the usual relationship
2024-11-01	86.16	89.80	+0.19	near the usual relationship
2024-10-31	86.86	90.14	+0.29	near the usual relationship
2024-10-30	87.01	90.77	+0.17	near the usual relationship
2024-10-29	86.00	90.03	+0.08	near the usual relationship
2024-10-28	92.71	92.15	+1.35	DHI ahead
2024-10-25	92.13	91.72	+1.32	DHI ahead
2024-10-24	93.90	93.09	+1.43	DHI ahead
2024-10-23	92.67	91.34	+1.59	DHI ahead
2024-10-22	92.72	91.87	+1.47	DHI ahead
2024-10-21	95.74	95.61	+1.29	DHI ahead
2024-10-18	100.00	100.00	+1.27	DHI ahead

One-day company-specific moves (4+ standard deviations, which block ideas for 10 sessions): Oct 29, 2024 (DHI -7.2%, LEN -2.3%); Jul 22, 2025 (DHI +17.0%, LEN +8.3%); Mar 30, 2026 (DHI -1.2%, LEN -6.0%); Apr 21, 2026 (DHI +5.8%, LEN +0.7%); Oct 5, 2026 (DHI -1.3%, LEN -6.7%). Upcoming earnings: DHI Oct 29, 2026 (pre-market).

Paired trades

The shared paper book and the replay, kept apart

Forward paper record

No paper position on this pair yet.

Historical simulation (a diagnostic, same rules)

3 simulated trades to Oct 20, 2026: -2.00% per trade on average after costs, 1 won.

Legs	Entered	Exited	Why	Days	Before costs	Costs + borrow	After costs
Long LEN · Short DHI	Nov 14, 2022	Jun 2, 2023	divergence stop	200	-$443.46	-$77.35	-$554.61 (-5.55%)
Long LEN · Short DHI	Nov 17, 2020	Dec 21, 2020	converged	34	$770.36	-$48.85	$711.89 (+7.12%)
Long LEN · Short DHI	Jul 9, 2019	Aug 5, 2019	divergence stop	27	-$699.95	-$48.09	-$755.66 (-7.56%)

Per $10,000 a leg. A replay on today's companies cannot prove an edge.

The companies

DHI and LEN at a glance

DHI D.R. Horton Inc.

Listing: NYSE · SEC CIK 882184
Industry: Homebuilding · SIC 1531 Operative Builders
Market value: $37.8B
Price history: 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026

LEN Lennar Corporation

Listing: NYSE · SEC CIK 920760
Industry: Homebuilding · SIC 1520 General Bldg Contractors - Residential Bldgs
Market value: $18.0B
Price history: 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026

Daily prices: Nasdaq.com. Filings and industry codes: SEC EDGAR. Earnings dates: Nasdaq earnings calendar.

All pairs →

Pair	Status	Ahead now	Industry
DHI / PHM	Measured twin	DHI by 0.91 sd	Homebuilding
DHI / NVR	Watchlist	DHI by 1.30 sd	SIC 1531 Operative Builders
PHM / LEN	Watchlist	PHM by 0.68 sd	Homebuilding

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Paper only: hypothetical paired positions with modelled costs. No broker, no orders, no real money. A historical simulation is a diagnostic, not proof of an edge. Not investment advice.