SKYH vs SLS: Correlation
Measured on weekly returns over the past three years, Sky Harbour Group Corporation (SKYH) and SELLAS Life Sciences Group, Inc. (SLS) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SKYH and SLS?
On 3 years of weekly data the SKYH/SLS correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.09 versus -0.20 over 3 years. The 5-year figure is 0.05, and annualized covariance runs at -1187.8 %².
Out of 12 assets tracked against SKYH, SLS lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months SLS outperformed by 693.6 percentage points (-1.4% for SKYH against +692.2% for SLS). Risk is not evenly split, since SLS carries 1.8 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.
SKYH vs SLS: side by side
| SKYH (Sky Harbour Group Corporation) | SLS (SELLAS Life Sciences Group, Inc.) | |
|---|---|---|
| 1-year return | -1.4% | +692.2% |
| 5-year return | +4.5% | +65.0% |
| Volatility (ann.) | 57.5% | 101.2% |
| Beta vs S&P 500 | 1.13 | 0.79 |
| Max drawdown (3Y) | -39.9% | -72.0% |
| Market cap | $0.9B | $3.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SKYH | SLS |
|---|---|---|
| 2022 | -73.8% | -57.3% |
| 2023 | +263.2% | -55.1% |
| 2024 | +23.5% | -1.9% |
| 2025 | -24.8% | +262.5% |
| 2026 | +17.3% | +303.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SKYH and SLS good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between SKYH and SLS?
The SKYH/SLS correlation stands at -0.20 on a 3-year window (1 year: -0.09, 5 years: 0.05), computed from weekly returns as of 2026-08-27.
Is SLS a good diversifier for SKYH?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
A reading of -0.20 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/skyh-vs-sls.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/skyh-vs-sls/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SKYH correlations · SLS correlations
