IXHL vs PKE: Correlation
Measured on weekly returns over the past three years, Incannex Healthcare Inc. (IXHL) and Park Aerospace Corp. (PKE) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IXHL and PKE?
Over the past 3 years, IXHL and PKE moved with a correlation of 0.38, which is moderate. The relationship has been stable: the 1-year correlation (0.28) sits close to the 3-year figure. Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 2484.5 %².
Within IXHL's tracked universe of 10 assets, PKE comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PKE ahead by 157.7 points (-81.6% versus +76.1%). One caveat on sizing: IXHL is 5.0 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.
IXHL vs PKE: side by side
| IXHL (Incannex Healthcare Inc.) | PKE (Park Aerospace Corp.) | |
|---|---|---|
| 1-year return | -81.6% | +76.1% |
| 5-year return | -99.8% | +176.6% |
| Volatility (ann.) | 180.7% | 36.0% |
| Beta vs S&P 500 | 3.15 | 0.80 |
| Max drawdown (3Y) | -99.0% | -26.6% |
| Market cap | – | $0.7B |
| P/E (trailing) | – | 51.8 |
| Dividend yield | 0.00% | 1.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IXHL | PKE |
|---|---|---|
| 2022 | – | +4.9% |
| 2023 | -58.6% | +21.5% |
| 2024 | -54.3% | +3.2% |
| 2025 | -83.1% | +50.5% |
| 2026 | -65.6% | +54.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IXHL and PKE good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IXHL and PKE?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.28 over the last year and 0.33 over 5 years.
Is PKE a good diversifier for IXHL?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
A reading of 0.38 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/ixhl-vs-pke.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ixhl-vs-pke/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IXHL correlations · PKE correlations
