AVAV vs BKSY: Correlation
Measured on weekly returns over the past three years, AeroVironment, Inc. (AVAV) and BlackSky Technology Inc. (BKSY) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVAV and BKSY?
Across a 3-year window, the weekly returns of AVAV and BKSY correlate at 0.42, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.54 versus 0.42 over 3 years. Stretching to 5 years gives 0.35, with an annualized covariance of 2759.6 %².
By 3-year correlation, BKSY places #5 of the 13 assets tracked against AVAV. Their recent paths diverged sharply: over the last 12 months BKSY outperformed by 74.8 percentage points (-38.5% for AVAV against +36.3% for BKSY).
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.
AVAV vs BKSY: side by side
| AVAV (AeroVironment, Inc.) | BKSY (BlackSky Technology Inc.) | |
|---|---|---|
| 1-year return | -38.5% | +36.3% |
| 5-year return | +48.2% | -69.1% |
| Volatility (ann.) | 73.1% | 90.5% |
| Beta vs S&P 500 | 1.82 | 2.48 |
| Max drawdown (3Y) | -66.6% | -69.1% |
| Market cap | $7.7B | $1.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVAV | BKSY |
|---|---|---|
| 2022 | +38.1% | -65.7% |
| 2023 | +47.1% | -9.1% |
| 2024 | +22.1% | -3.7% |
| 2025 | +57.2% | +73.8% |
| 2026 | -37.0% | +32.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVAV and BKSY good diversifiers for each other?
Reasonably. At 0.42, AVAV and BKSY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AVAV and BKSY?
The AVAV/BKSY correlation stands at 0.42 on a 3-year window (1 year: 0.54, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is BKSY a good diversifier for AVAV?
Reasonably. At 0.42, AVAV and BKSY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/avav-vs-bksy.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/avav-vs-bksy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AVAV correlations · BKSY correlations
