CCL vs JETS: Correlation
Carnival Corporation (CCL) and US Global Jets ETF (JETS) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCL and JETS?
Across a 3-year window, the weekly returns of CCL and JETS correlate at 0.65, strong. The relationship has been stable: the 1-year correlation (0.69) sits close to the 3-year figure. Stretching to 5 years gives 0.75, with an annualized covariance of 881.9 %².
By 3-year correlation, JETS places #5 of the 40 assets tracked against CCL. Correlation aside, the last 12 months split them widely, with JETS ahead by 34.8 points (-21.6% versus +13.2%). On a rolling one-year basis the correlation drifted between 0.39 and 0.86, a moderate band. Risk is not evenly split, since CCL carries 1.6 times the volatility of the other side.
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.
CCL vs JETS: side by side
| CCL (Carnival Corporation) | JETS (US Global Jets ETF) | |
|---|---|---|
| 1-year return | -21.6% | +13.2% |
| 5-year return | +7.3% | +30.9% |
| Volatility (ann.) | 46.5% | 29.2% |
| Beta vs S&P 500 | 1.72 | 1.16 |
| Max drawdown (3Y) | -42.3% | -35.2% |
| Market cap | $34.2B | – |
| P/E (trailing) | 11.5 | – |
| Dividend yield | 1.17% | – |
| Sector / category | Consumer Discretionary | ETF · Thematic |
Year-by-year returns
| Year | CCL | JETS |
|---|---|---|
| 2022 | -59.9% | -19.0% |
| 2023 | +130.0% | +11.4% |
| 2024 | +34.4% | +33.2% |
| 2025 | +22.6% | +11.6% |
| 2026 | -17.0% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCL and JETS good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CCL and JETS?
As of 2026-08-27, the correlation of weekly returns between CCL and JETS is 0.65 over 3 years, 0.69 over 1 year and 0.75 over 5 years.
Is JETS a good diversifier for CCL?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 mean?
A reading of 0.65 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/ccl-vs-jets.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ccl-vs-jets/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CCL correlations · JETS correlations
