CPA vs JETS: Correlation
Measured on weekly returns over the past three years, Copa Holdings, S.A. (CPA) and US Global Jets ETF (JETS) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPA and JETS?
Over the past 3 years, CPA and JETS moved with a correlation of 0.68, which is strong. Recent behaviour matches the longer record: 0.77 over 1 year against 0.68 over 3. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 580.5 %².
Few assets follow CPA as closely as JETS, which ranks #1 of 12 tracked partners. Twelve-month performance is nearly a tie, at +17.8% for CPA and +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.
CPA vs JETS: side by side
| CPA (Copa Holdings, S.A.) | JETS (US Global Jets ETF) | |
|---|---|---|
| 1-year return | +17.8% | +13.2% |
| 5-year return | +112.6% | +30.9% |
| Volatility (ann.) | 29.3% | 29.2% |
| Beta vs S&P 500 | 0.83 | 1.16 |
| Max drawdown (3Y) | -29.2% | -35.2% |
| Market cap | $5.4B | – |
| P/E (trailing) | 8.7 | – |
| Dividend yield | 5.01% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | CPA | JETS |
|---|---|---|
| 2022 | +0.6% | -19.0% |
| 2023 | +32.4% | +11.4% |
| 2024 | -11.5% | +33.2% |
| 2025 | +45.6% | +11.6% |
| 2026 | +11.5% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPA and JETS good diversifiers for each other?
Only partially. A correlation of 0.68 means CPA 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 CPA and JETS?
The CPA/JETS correlation stands at 0.68 on a 3-year window (1 year: 0.77, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is JETS a good diversifier for CPA?
Only partially. A correlation of 0.68 means CPA 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 0.68 mean?
A reading of 0.68 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/cpa-vs-jets.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cpa-vs-jets/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CPA correlations · JETS correlations
