RAY vs SKYA: Correlation
Raytech Holding Limited (RAY) and SkyAI, Inc. (SKYA) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RAY and SKYA?
Across a 3-year window, the weekly returns of RAY and SKYA correlate at -0.26, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.24) than the 3-year average (-0.26). Stretching to 5 years gives n/a, with an annualized covariance of -6019.2 %².
Out of 32 assets tracked against RAY, SKYA lands near the bottom at #30. The trailing year gives RAY the advantage: -84.0% versus -90.1%, a 6.1-point spread.
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.
RAY vs SKYA: side by side
| RAY (Raytech Holding Limited) | SKYA (SkyAI, Inc.) | |
|---|---|---|
| 1-year return | -84.0% | -90.1% |
| 5-year return | n/a | -100.0% |
| Volatility (ann.) | 146.1% | 144.3% |
| Beta vs S&P 500 | 0.37 | 1.21 |
| Max drawdown (3Y) | -97.7% | -100.0% |
| Market cap | – | $0.1B |
| P/E (trailing) | 3.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RAY | SKYA |
|---|---|---|
| 2023 | – | -65.6% |
| 2024 | – | -77.5% |
| 2025 | -90.5% | -99.7% |
| 2026 | +36.0% | -27.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RAY and SKYA good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between RAY and SKYA?
The RAY/SKYA correlation stands at -0.26 on a 3-year window (1 year: 0.24, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SKYA a good diversifier for RAY?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
A reading of -0.26 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/ray-vs-skya.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ray-vs-skya/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RAY correlations · SKYA correlations
