SKYH vs USA: Correlation
Measured on weekly returns over the past three years, Sky Harbour Group Corporation (SKYH) and Liberty All-Star Equity Fund (USA) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SKYH and USA?
Across a 3-year window, the weekly returns of SKYH and USA correlate at 0.34, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.47 versus 0.34 over 3 years. Stretching to 5 years gives 0.25, with an annualized covariance of 301.1 %².
By 3-year correlation, USA places #5 of the 12 assets tracked against SKYH. Neither side won the trailing year by much: -1.4% against +1.6%. Risk is not evenly split, since SKYH carries 3.8 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 USA: side by side
| SKYH (Sky Harbour Group Corporation) | USA (Liberty All-Star Equity Fund) | |
|---|---|---|
| 1-year return | -1.4% | +1.6% |
| 5-year return | +4.5% | +18.1% |
| Volatility (ann.) | 57.5% | 15.2% |
| Beta vs S&P 500 | 1.13 | 0.89 |
| Max drawdown (3Y) | -39.9% | -17.7% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | 10.7 |
| Dividend yield | 0.00% | 11.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SKYH | USA |
|---|---|---|
| 2022 | -73.8% | -25.2% |
| 2023 | +263.2% | +23.2% |
| 2024 | +23.5% | +20.8% |
| 2025 | -24.8% | +0.1% |
| 2026 | +17.3% | +3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SKYH and USA good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SKYH and USA?
As of 2026-08-27, the correlation of weekly returns between SKYH and USA is 0.34 over 3 years, 0.47 over 1 year and 0.25 over 5 years.
Is USA a good diversifier for SKYH?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: SKYH correlations · USA correlations
