JETS vs RJET: Correlation
Measured on weekly returns over the past three years, US Global Jets ETF (JETS) and Republic Airways Holdings Inc. (RJET) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JETS and RJET?
Over the past 3 years, JETS and RJET moved with a correlation of 0.39, which is moderate. The past 12 months show a tighter link (0.54) than the 3-year average (0.39). Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 1009.5 %².
By 3-year correlation, RJET places #43 of the 54 assets tracked against JETS. Over the last 12 months JETS came out ahead by 12.7 percentage points (+13.2% against +0.5%). Risk is not evenly split, since RJET carries 3.1 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 RJET: side by side
| JETS (US Global Jets ETF) | RJET (Republic Airways Holdings Inc.) | |
|---|---|---|
| 1-year return | +13.2% | +0.5% |
| 5-year return | +30.9% | -84.5% |
| Volatility (ann.) | 29.2% | 89.1% |
| Beta vs S&P 500 | 1.16 | 1.76 |
| Max drawdown (3Y) | -35.2% | -70.7% |
| Market cap | – | $0.9B |
| P/E (trailing) | – | 12.2 |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Thematic | US Listed |
Year-by-year returns
| Year | JETS | RJET |
|---|---|---|
| 2022 | -19.0% | -72.7% |
| 2023 | +11.4% | -34.0% |
| 2024 | +33.2% | +14.9% |
| 2025 | +11.6% | +5.6% |
| 2026 | +4.6% | +0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JETS and RJET good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between JETS and RJET?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.54 over the last year and 0.47 over 5 years.
Is RJET a good diversifier for JETS?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 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-rjet.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jets-vs-rjet/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JETS correlations · RJET correlations
