AISP vs HOVR: Correlation
Measured on weekly returns over the past three years, Airship AI Holdings, Inc (AISP) and New Horizon Aircraft Ltd. - Class A (HOVR) 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 AISP and HOVR?
Over the past 3 years, AISP and HOVR moved with a correlation of 0.54, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.33 versus 0.54 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 22544.1 %².
Few assets follow AISP as closely as HOVR, which ranks #3 of 29 tracked partners. Correlation aside, the last 12 months split them widely, with HOVR ahead by 51.9 points (-53.0% versus -1.1%).
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.
AISP vs HOVR: side by side
| AISP (Airship AI Holdings, Inc) | HOVR (New Horizon Aircraft Ltd. - Class A) | |
|---|---|---|
| 1-year return | -53.0% | -1.1% |
| 5-year return | -77.4% | n/a |
| Volatility (ann.) | 233.1% | 177.8% |
| Beta vs S&P 500 | 1.24 | 0.74 |
| Max drawdown (3Y) | -87.4% | -97.6% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | 3.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AISP | HOVR |
|---|---|---|
| 2022 | +3.0% | – |
| 2023 | -83.1% | – |
| 2024 | +268.2% | -86.4% |
| 2025 | -53.8% | +30.1% |
| 2026 | -24.6% | +23.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AISP and HOVR 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 AISP and HOVR?
The AISP/HOVR correlation stands at 0.54 on a 3-year window (1 year: 0.33, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is HOVR a good diversifier for AISP?
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/aisp-vs-hovr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aisp-vs-hovr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AISP correlations · HOVR correlations
