ICU vs SKYH: Correlation
SeaStar Medical Holding Corporation (ICU) and Sky Harbour Group Corporation (SKYH) show a weak relationship: their 3-year correlation of weekly returns is 0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICU and SKYH?
On 3 years of weekly data the ICU/SKYH correlation comes out at 0.25, weak. Little has changed lately, as the 1-year reading of 0.34 lands near the 3-year figure. The 5-year figure is 0.07, and annualized covariance runs at 2259.1 %².
Within ICU's tracked universe of 10 assets, SKYH comes in at #5 by 3-year correlation. The last year tells two different stories: SKYH led by 62.0 percentage points, -63.4% for ICU against -1.4% for SKYH. One caveat on sizing: ICU is 2.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ICU vs SKYH: side by side
| ICU (SeaStar Medical Holding Corporation) | SKYH (Sky Harbour Group Corporation) | |
|---|---|---|
| 1-year return | -63.4% | -1.4% |
| 5-year return | -99.9% | +4.5% |
| Volatility (ann.) | 156.9% | 57.5% |
| Beta vs S&P 500 | 0.82 | 1.13 |
| Max drawdown (3Y) | -99.4% | -39.9% |
| Market cap | – | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICU | SKYH |
|---|---|---|
| 2022 | -59.2% | -73.8% |
| 2023 | -89.2% | +263.2% |
| 2024 | -82.5% | +23.5% |
| 2025 | -87.6% | -24.8% |
| 2026 | +29.2% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICU and SKYH good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ICU and SKYH?
The ICU/SKYH correlation stands at 0.25 on a 3-year window (1 year: 0.34, 5 years: 0.07), computed from weekly returns as of 2026-08-27.
Is SKYH a good diversifier for ICU?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.25 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.
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Related comparisons
Hubs: ICU correlations · SKYH correlations
