APEI vs SKYH: Correlation
How closely do American Public Education, Inc. (APEI) and Sky Harbour Group Corporation (SKYH) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APEI and SKYH?
Across a 3-year window, the weekly returns of APEI and SKYH correlate at 0.36, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.09 versus 0.36 over 3 years. Stretching to 5 years gives 0.15, with an annualized covariance of 1040.5 %².
By 3-year correlation, SKYH places #6 of the 12 assets tracked against APEI. Correlation aside, the last 12 months split them widely, with APEI ahead by 51.9 points (+50.5% versus -1.4%).
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.
APEI vs SKYH: side by side
| APEI (American Public Education, Inc.) | SKYH (Sky Harbour Group Corporation) | |
|---|---|---|
| 1-year return | +50.5% | -1.4% |
| 5-year return | +76.0% | +4.5% |
| Volatility (ann.) | 50.5% | 57.5% |
| Beta vs S&P 500 | 0.75 | 1.13 |
| Max drawdown (3Y) | -40.5% | -39.9% |
| Market cap | $0.8B | $0.9B |
| P/E (trailing) | 18.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APEI | SKYH |
|---|---|---|
| 2022 | -44.8% | -73.8% |
| 2023 | -21.5% | +263.2% |
| 2024 | +123.5% | +23.5% |
| 2025 | +75.2% | -24.8% |
| 2026 | +22.0% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APEI and SKYH good diversifiers for each other?
Reasonably. At 0.36, APEI and SKYH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between APEI and SKYH?
The APEI/SKYH correlation stands at 0.36 on a 3-year window (1 year: 0.09, 5 years: 0.15), computed from weekly returns as of 2026-08-27.
Is SKYH a good diversifier for APEI?
Reasonably. At 0.36, APEI and SKYH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/apei-vs-skyh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/apei-vs-skyh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: APEI correlations · SKYH correlations
