AIR vs JETS: Correlation
How closely do AAR Corp. (AIR) and US Global Jets ETF (JETS) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIR and JETS?
Over the past 3 years, AIR and JETS moved with a correlation of 0.52, which is moderate. Recent behaviour matches the longer record: 0.61 over 1 year against 0.52 over 3. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 561.6 %².
By 3-year correlation, JETS places #4 of the 10 assets tracked against AIR. The last year tells two different stories: AIR led by 66.0 percentage points, +79.2% for AIR against +13.2% for JETS.
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.
AIR vs JETS: side by side
| AIR (AAR Corp.) | JETS (US Global Jets ETF) | |
|---|---|---|
| 1-year return | +79.2% | +13.2% |
| 5-year return | +302.1% | +30.9% |
| Volatility (ann.) | 37.3% | 29.2% |
| Beta vs S&P 500 | 1.06 | 1.16 |
| Max drawdown (3Y) | -35.7% | -35.2% |
| Market cap | $5.5B | – |
| P/E (trailing) | 28.0 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | AIR | JETS |
|---|---|---|
| 2022 | +15.0% | -19.0% |
| 2023 | +39.0% | +11.4% |
| 2024 | -1.8% | +33.2% |
| 2025 | +35.1% | +11.6% |
| 2026 | +64.2% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIR and JETS good diversifiers for each other?
Only partially. A correlation of 0.52 means AIR and JETS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AIR and JETS?
As of 2026-08-27, the correlation of weekly returns between AIR and JETS is 0.52 over 3 years, 0.61 over 1 year and 0.55 over 5 years.
Is JETS a good diversifier for AIR?
Only partially. A correlation of 0.52 means AIR and JETS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
A reading of 0.52 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/air-vs-jets.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/air-vs-jets/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AIR correlations · JETS correlations
