HOVR vs XBP: Correlation
Measured on weekly returns over the past three years, New Horizon Aircraft Ltd. - Class A (HOVR) and XBP Global Holdings, Inc. (XBP) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOVR and XBP?
Across a 3-year window, the weekly returns of HOVR and XBP correlate at 0.28, weak. The relationship has been stable: the 1-year correlation (0.20) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 7269.2 %².
By 3-year correlation, XBP places #7 of the 12 assets tracked against HOVR. Correlation aside, the last 12 months split them widely, with HOVR ahead by 51.1 points (-1.1% versus -52.2%).
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 XBP: side by side
| HOVR (New Horizon Aircraft Ltd. - Class A) | XBP (XBP Global Holdings, Inc.) | |
|---|---|---|
| 1-year return | -1.1% | -52.2% |
| 5-year return | n/a | -97.1% |
| Volatility (ann.) | 177.8% | 145.1% |
| Beta vs S&P 500 | 0.74 | -0.32 |
| Max drawdown (3Y) | -97.6% | -99.5% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HOVR | XBP |
|---|---|---|
| 2022 | – | +4.3% |
| 2023 | – | -49.1% |
| 2024 | -86.4% | -79.4% |
| 2025 | +30.1% | -37.5% |
| 2026 | +23.1% | -57.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOVR and XBP good diversifiers for each other?
Reasonably. At 0.28, HOVR and XBP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HOVR and XBP?
The HOVR/XBP correlation stands at 0.28 on a 3-year window (1 year: 0.20, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is XBP a good diversifier for HOVR?
Reasonably. At 0.28, HOVR and XBP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hovr-vs-xbp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hovr-vs-xbp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HOVR correlations · XBP correlations
