SKYH vs VXX: Correlation
Measured on weekly returns over the past three years, Sky Harbour Group Corporation (SKYH) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.34, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SKYH and VXX?
On 3 years of weekly data the SKYH/VXX correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.33) sits close to the 3-year figure. The 5-year figure is -0.14, and annualized covariance runs at -1173.3 %².
Among the 12 assets we track against SKYH, VXX sits near the bottom by co-movement, at rank #12. The last year tells two different stories: SKYH led by 48.3 percentage points, -1.4% for SKYH against -49.7% for VXX.
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 VXX: side by side
| SKYH (Sky Harbour Group Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.4% | -49.7% |
| 5-year return | +4.5% | -95.6% |
| Volatility (ann.) | 57.5% | 60.9% |
| Beta vs S&P 500 | 1.13 | -3.31 |
| Max drawdown (3Y) | -39.9% | -83.3% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SKYH | VXX |
|---|---|---|
| 2022 | -73.8% | -23.8% |
| 2023 | +263.2% | -72.5% |
| 2024 | +23.5% | -26.2% |
| 2025 | -24.8% | -42.2% |
| 2026 | +17.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SKYH and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between SKYH and VXX?
The SKYH/VXX correlation stands at -0.34 on a 3-year window (1 year: -0.33, 5 years: -0.14), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for SKYH?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/skyh-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/skyh-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SKYH correlations · VXX correlations
