JETS vs NCLH: Correlation
Measured on weekly returns over the past three years, US Global Jets ETF (JETS) and Norwegian Cruise Line Holdings (NCLH) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JETS and NCLH?
On 3 years of weekly data the JETS/NCLH correlation comes out at 0.59, moderate. Recent behaviour matches the longer record: 0.59 over 1 year against 0.59 over 3. The 5-year figure is 0.71, and annualized covariance runs at 857.8 %².
Within JETS's tracked universe of 54 assets, NCLH comes in at #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with JETS ahead by 46.3 points (+13.2% versus -33.1%). Across three years, the rolling one-year figure varied moderately, from 0.45 to 0.80. Risk is not evenly split, since NCLH 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.
JETS vs NCLH: side by side
| JETS (US Global Jets ETF) | NCLH (Norwegian Cruise Line Holdings) | |
|---|---|---|
| 1-year return | +13.2% | -33.1% |
| 5-year return | +30.9% | -34.4% |
| Volatility (ann.) | 29.2% | 49.9% |
| Beta vs S&P 500 | 1.16 | 1.52 |
| Max drawdown (3Y) | -35.2% | -49.1% |
| Market cap | – | $7.6B |
| P/E (trailing) | – | 10.1 |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Thematic | Consumer Discretionary |
Year-by-year returns
| Year | JETS | NCLH |
|---|---|---|
| 2022 | -19.0% | -41.0% |
| 2023 | +11.4% | +63.7% |
| 2024 | +33.2% | +28.4% |
| 2025 | +11.6% | -13.3% |
| 2026 | +4.6% | -25.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JETS and NCLH good diversifiers for each other?
Only partially. A correlation of 0.59 means JETS and NCLH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between JETS and NCLH?
As of 2026-08-27, the correlation of weekly returns between JETS and NCLH is 0.59 over 3 years, 0.59 over 1 year and 0.71 over 5 years.
Is NCLH a good diversifier for JETS?
Only partially. A correlation of 0.59 means JETS and NCLH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 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/jets-vs-nclh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/jets-vs-nclh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JETS correlations · NCLH correlations
