ARKX vs. HOVR
ARKX (ARK Space Exploration & Innovation ETF) is Aerospace & Defense fund actively managed by ARK, while HOVR (New Horizon Aircraft Ltd) is a stock. Over the past year, ARKX returned 52.99% vs 59.85% for HOVR. At a 0.33 correlation, their price movements are largely independent.
Performance
ARKX vs. HOVR - Performance Comparison
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Returns By Period
In the year-to-date period, ARKX achieves a 16.56% return, which is significantly lower than HOVR's 48.98% return.
ARKX
- 1D
- -1.94%
- 1M
- -2.96%
- YTD
- 16.56%
- 6M
- 17.78%
- 1Y
- 52.99%
- 3Y*
- 31.55%
- 5Y*
- 10.38%
- 10Y*
- —
HOVR
- 1D
- -3.10%
- 1M
- -11.69%
- YTD
- 48.98%
- 6M
- 26.59%
- 1Y
- 59.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ARKX vs. HOVR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ARKX ARK Space Exploration & Innovation ETF | 16.56% | 48.46% | 32.97% |
HOVR New Horizon Aircraft Ltd | 48.98% | 30.09% | -70.26% |
Correlation
The correlation between ARKX and HOVR is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2024 | 0.33 |
The correlation between ARKX and HOVR shifts across timeframes, from 0.33 (all time) to 0.53 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ARKX vs. HOVR — Risk / Return Rank
ARKX
HOVR
ARKX vs. HOVR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ARK Space Exploration & Innovation ETF (ARKX) and New Horizon Aircraft Ltd (HOVR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ARKX | HOVR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.19 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 0.87 | +1.74 |
| Martin ratioReturn relative to average drawdown | 6.87 | 1.40 | +5.47 |
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Drawdowns
ARKX vs. HOVR - Drawdown Comparison
The maximum ARKX drawdown since its inception was -43.61%, smaller than the maximum HOVR drawdown of -93.16%. Use the drawdown chart below to compare losses from any high point for ARKX and HOVR.
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Drawdown Indicators
| ARKX | HOVR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.61% | -93.16% | +49.55% |
Max Drawdown (1Y)Largest decline over 1 year | -20.42% | -69.31% | +48.89% |
Max Drawdown (3Y)Largest decline over 3 years | -25.47% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -43.61% | — | — |
Current DrawdownCurrent decline from peak | -10.49% | -43.99% | +33.50% |
Average DrawdownAverage peak-to-trough decline | -19.92% | -63.48% | +43.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.74% | 42.91% | -35.17% |
Volatility
ARKX vs. HOVR - Volatility Comparison
The current volatility for ARK Space Exploration & Innovation ETF (ARKX) is 12.77%, while New Horizon Aircraft Ltd (HOVR) has a volatility of 36.90%. This indicates that ARKX experiences smaller price fluctuations and is considered to be less risky than HOVR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARKX | HOVR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.77% | 36.90% | -24.13% |
Volatility (6M)Calculated over the trailing 6-month period | 26.51% | 82.11% | -55.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.50% | 126.68% | -93.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.02% | 157.13% | -129.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.65% | 157.13% | -129.48% |
Dividends
ARKX vs. HOVR - Dividend Comparison
Neither ARKX nor HOVR has paid dividends to shareholders.
Frequently Asked Questions
ARKX and HOVR have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HOVR has higher volatility (36.90%) compared to ARKX (12.77%). In terms of maximum drawdown, ARKX dropped -43.61% vs HOVR's -93.16%.
ARKX currently has the higher Sharpe Ratio (1.59 vs 0.47), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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