HOVR vs. IGM
HOVR (New Horizon Aircraft Ltd) is a stock, while IGM (iShares Expanded Tech Sector ETF) is Technology Equities fund tracking the S&P North American Expanded Technology Sector Index. Over the past year, HOVR returned -3.23% vs 37.02% for IGM. At a 0.23 correlation, their price movements are largely independent.
Performance
HOVR vs. IGM - Performance Comparison
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Returns By Period
In the year-to-date period, HOVR achieves a 2.04% return, which is significantly lower than IGM's 20.35% return.
HOVR
- 1D
- -12.28%
- 1M
- -31.19%
- 6M
- -35.34%
- YTD
- 2.04%
- 1Y
- -3.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IGM
- 1D
- -2.48%
- 1M
- -3.54%
- 6M
- 19.15%
- YTD
- 20.35%
- 1Y
- 37.02%
- 3Y*
- 31.90%
- 5Y*
- 18.50%
- 10Y*
- 23.77%
HOVR vs. IGM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HOVR New Horizon Aircraft Ltd | 2.04% | 30.09% | -70.26% |
IGM iShares Expanded Tech Sector ETF | 20.35% | 26.76% | 35.90% |
Correlation
The correlation between HOVR and IGM is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2024 | 0.23 |
Over the past year, HOVR and IGM have become more correlated (0.46) than their long-term average of 0.23, meaning their price movements have been converging.
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Return for Risk
HOVR vs. IGM — Risk / Return Rank
HOVR
IGM
HOVR vs. IGM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for New Horizon Aircraft Ltd (HOVR) and iShares Expanded Tech Sector ETF (IGM). 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.
| HOVR | IGM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.60 | ||
| Sortino ratioReturn per unit of downside risk | -1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.27 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 2.26 | -2.31 |
| Martin ratioReturn relative to average drawdown | -0.07 | 7.10 | -7.17 |
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Drawdowns
HOVR vs. IGM - Drawdown Comparison
The maximum HOVR drawdown since its inception was -93.16%, which is greater than IGM's maximum drawdown of -65.59%. Use the drawdown chart below to compare losses from any high point for HOVR and IGM.
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Drawdown Indicators
| HOVR | IGM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.16% | -65.59% | -27.57% |
Max Drawdown (1Y)Largest decline over 1 year | -69.31% | -16.44% | -52.87% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.39% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.68% | — |
Current DrawdownCurrent decline from peak | -61.64% | -9.12% | -52.52% |
Average DrawdownAverage peak-to-trough decline | -63.04% | -15.19% | -47.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.57% | 5.23% | +38.34% |
Volatility
HOVR vs. IGM - Volatility Comparison
New Horizon Aircraft Ltd (HOVR) has a higher volatility of 19.41% compared to iShares Expanded Tech Sector ETF (IGM) at 8.90%. This indicates that HOVR's price experiences larger fluctuations and is considered to be riskier than IGM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HOVR | IGM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.41% | 8.90% | +10.51% |
Volatility (6M)Calculated over the trailing 6-month period | 76.60% | 19.74% | +56.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 116.21% | 23.59% | +92.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 154.92% | 26.23% | +128.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 154.92% | 24.76% | +130.16% |
Dividends
HOVR vs. IGM - Dividend Comparison
HOVR has not paid dividends to shareholders, while IGM's dividend yield for the trailing twelve months is around 0.14%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HOVR New Horizon Aircraft Ltd | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IGM iShares Expanded Tech Sector ETF | 0.14% | 0.17% | 0.22% | 0.33% | 0.66% | 0.16% | 0.32% | 0.50% | 0.57% | 0.57% | 0.90% | 0.79% |
Frequently Asked Questions
HOVR and IGM have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HOVR has higher volatility (19.41%) compared to IGM (8.90%). In terms of maximum drawdown, HOVR dropped -93.16% vs IGM's -65.59%.
IGM currently has the higher Sharpe Ratio (1.58 vs -0.03), 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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