HOVR vs SES: Correlation
New Horizon Aircraft Ltd. - Class A (HOVR) and SES AI Corporation (SES) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOVR and SES?
Across a 3-year window, the weekly returns of HOVR and SES correlate at 0.44, moderate. Little has changed lately, as the 1-year reading of 0.40 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 22861.5 %².
SES is one of the assets that tracks HOVR most closely: it ranks #3 out of the 12 assets we track against HOVR. The last year tells two different stories: HOVR led by 49.9 percentage points, -1.1% for HOVR against -51.0% for SES. Risk is not evenly split, since SES carries 1.7 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.
HOVR vs SES: side by side
| HOVR (New Horizon Aircraft Ltd. - Class A) | SES (SES AI Corporation) | |
|---|---|---|
| 1-year return | -1.1% | -51.0% |
| 5-year return | n/a | -94.5% |
| Volatility (ann.) | 177.8% | 294.5% |
| Beta vs S&P 500 | 0.74 | 2.43 |
| Max drawdown (3Y) | -97.6% | -89.7% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HOVR | SES |
|---|---|---|
| 2022 | – | -68.3% |
| 2023 | – | -41.9% |
| 2024 | -86.4% | +19.7% |
| 2025 | +30.1% | -17.8% |
| 2026 | +23.1% | -69.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOVR and SES good diversifiers for each other?
Reasonably. At 0.44, HOVR and SES keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HOVR and SES?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.40 over the last year and n/a over 5 years.
Is SES a good diversifier for HOVR?
Reasonably. At 0.44, HOVR and SES keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 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/hovr-vs-ses.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hovr-vs-ses/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HOVR correlations · SES correlations
