RCL vs SKYW: Correlation
How closely do Royal Caribbean Group (RCL) and SkyWest, Inc. (SKYW) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RCL and SKYW?
Over the past 3 years, RCL and SKYW moved with a correlation of 0.61, which is strong. The link has loosened recently: the 1-year correlation (0.46) runs below the 3-year figure (0.61). Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 840.6 %².
Among the 37 assets we track against RCL, SKYW ranks #5 by 3-year correlation. Neither side won the trailing year by much: -19.3% against -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.
RCL vs SKYW: side by side
| RCL (Royal Caribbean Group) | SKYW (SkyWest, Inc.) | |
|---|---|---|
| 1-year return | -19.3% | -19.3% |
| 5-year return | +257.6% | +114.2% |
| Volatility (ann.) | 41.3% | 33.3% |
| Beta vs S&P 500 | 1.46 | 0.95 |
| Max drawdown (3Y) | -35.0% | -36.6% |
| Market cap | $76.2B | $3.8B |
| P/E (trailing) | 17.9 | 9.8 |
| Dividend yield | 1.72% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | RCL | SKYW |
|---|---|---|
| 2022 | -35.7% | -58.0% |
| 2023 | +162.0% | +216.2% |
| 2024 | +79.0% | +91.8% |
| 2025 | +22.5% | +0.3% |
| 2026 | +3.2% | -1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RCL and SKYW good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between RCL and SKYW?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.46 over the last year and 0.60 over 5 years.
Is SKYW a good diversifier for RCL?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 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/rcl-vs-skyw.json
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RCL correlations · SKYW correlations
