ALGT vs DAL: Correlation
Allegiant Travel Company (ALGT) and Delta Air Lines (DAL) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGT and DAL?
Across a 3-year window, the weekly returns of ALGT and DAL correlate at 0.63, strong. The link has tightened recently: the 1-year correlation (0.83) runs above the 3-year figure (0.63). Stretching to 5 years gives 0.66, with an annualized covariance of 1348.3 %².
Within ALGT's tracked universe of 15 assets, DAL comes in at #7 by 3-year correlation. The trailing year gives DAL the advantage: +28.5% versus +33.9%, a 5.4-point spread. One caveat on sizing: ALGT is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ALGT vs DAL: side by side
| ALGT (Allegiant Travel Company) | DAL (Delta Air Lines) | |
|---|---|---|
| 1-year return | +28.5% | +33.9% |
| 5-year return | -55.9% | +110.6% |
| Volatility (ann.) | 58.0% | 37.1% |
| Beta vs S&P 500 | 1.36 | 1.17 |
| Max drawdown (3Y) | -61.2% | -47.9% |
| Market cap | $2.2B | – |
| P/E (trailing) | 71.7 | 13.8 |
| Dividend yield | 0.00% | 0.94% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | ALGT | DAL |
|---|---|---|
| 2022 | -63.6% | -15.9% |
| 2023 | +23.4% | +23.0% |
| 2024 | +16.0% | +52.0% |
| 2025 | -9.4% | +16.1% |
| 2026 | -5.8% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGT and DAL good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ALGT and DAL?
The ALGT/DAL correlation stands at 0.63 on a 3-year window (1 year: 0.83, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is DAL a good diversifier for ALGT?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
A reading of 0.63 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/algt-vs-dal.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/algt-vs-dal/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALGT correlations · DAL correlations
