JETS vs SKYW: Correlation
How closely do US Global Jets ETF (JETS) and SkyWest, Inc. (SKYW) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JETS and SKYW?
On 3 years of weekly data the JETS/SKYW correlation comes out at 0.70, strong. Little has changed lately, as the 1-year reading of 0.77 lands near the 3-year figure. The 5-year figure is 0.69, and annualized covariance runs at 682.9 %².
By 3-year correlation, SKYW places #10 of the 54 assets tracked against JETS. Correlation aside, the last 12 months split them widely, with JETS ahead by 32.5 points (+13.2% versus -19.3%).
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 SKYW: side by side
| JETS (US Global Jets ETF) | SKYW (SkyWest, Inc.) | |
|---|---|---|
| 1-year return | +13.2% | -19.3% |
| 5-year return | +30.9% | +114.2% |
| Volatility (ann.) | 29.2% | 33.3% |
| Beta vs S&P 500 | 1.16 | 0.95 |
| Max drawdown (3Y) | -35.2% | -36.6% |
| Market cap | – | $3.8B |
| P/E (trailing) | – | 9.8 |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Thematic | US Listed |
Year-by-year returns
| Year | JETS | SKYW |
|---|---|---|
| 2022 | -19.0% | -58.0% |
| 2023 | +11.4% | +216.2% |
| 2024 | +33.2% | +91.8% |
| 2025 | +11.6% | +0.3% |
| 2026 | +4.6% | -1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JETS and SKYW good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between JETS and SKYW?
As of 2026-08-27, the correlation of weekly returns between JETS and SKYW is 0.70 over 3 years, 0.77 over 1 year and 0.69 over 5 years.
Is SKYW a good diversifier for JETS?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 mean?
A reading of 0.70 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/jets-vs-skyw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/jets-vs-skyw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JETS correlations · SKYW correlations
