EQNR vs JETS: Correlation
Equinor ASA (EQNR) and US Global Jets ETF (JETS) show a negative relationship: their 3-year correlation of weekly returns is -0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQNR and JETS?
Over the past 3 years, EQNR and JETS moved with a correlation of -0.33, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.59 versus -0.33 over 3 years. Over 5 years the correlation is -0.07, and the annualized covariance of weekly returns is -314.8 %².
Within EQNR's tracked universe of 79 assets, JETS comes in at #74 by 3-year correlation. The last year tells two different stories: EQNR led by 64.0 percentage points, +77.2% for EQNR against +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.
EQNR vs JETS: side by side
| EQNR (Equinor ASA) | JETS (US Global Jets ETF) | |
|---|---|---|
| 1-year return | +77.2% | +13.2% |
| 5-year return | +180.6% | +30.9% |
| Volatility (ann.) | 33.2% | 29.2% |
| Beta vs S&P 500 | -0.25 | 1.16 |
| Max drawdown (3Y) | -27.6% | -35.2% |
| Market cap | $98.6B | – |
| P/E (trailing) | 11.2 | – |
| Dividend yield | 3.73% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | EQNR | JETS |
|---|---|---|
| 2022 | +42.8% | -19.0% |
| 2023 | -0.8% | +11.4% |
| 2024 | -16.0% | +33.2% |
| 2025 | +6.1% | +11.6% |
| 2026 | +81.8% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQNR and JETS good diversifiers for each other?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EQNR and JETS?
The EQNR/JETS correlation stands at -0.33 on a 3-year window (1 year: -0.59, 5 years: -0.07), computed from weekly returns as of 2026-08-27.
Is JETS a good diversifier for EQNR?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.33 mean?
A reading of -0.33 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/eqnr-vs-jets.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eqnr-vs-jets/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EQNR correlations · JETS correlations
