ALGT vs JBLU: Correlation
Allegiant Travel Company (ALGT) and JetBlue Airways Corporation (JBLU) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGT and JBLU?
Over the past 3 years, ALGT and JBLU moved with a correlation of 0.66, which is strong. Lately the two have moved closer together, with the 1-year correlation at 0.81 versus 0.66 over 3 years. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 2425.6 %².
JBLU is one of the assets that tracks ALGT most closely: it ranks #3 out of the 15 assets we track against ALGT. Correlation aside, the last 12 months split them widely, with ALGT ahead by 36.1 points (+28.5% versus -7.6%).
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 JBLU: side by side
| ALGT (Allegiant Travel Company) | JBLU (JetBlue Airways Corporation) | |
|---|---|---|
| 1-year return | +28.5% | -7.6% |
| 5-year return | -55.9% | -67.2% |
| Volatility (ann.) | 58.0% | 63.3% |
| Beta vs S&P 500 | 1.36 | 1.35 |
| Max drawdown (3Y) | -61.2% | -57.6% |
| Market cap | $2.2B | $1.8B |
| P/E (trailing) | 71.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALGT | JBLU |
|---|---|---|
| 2022 | -63.6% | -54.5% |
| 2023 | +23.4% | -14.4% |
| 2024 | +16.0% | +41.6% |
| 2025 | -9.4% | -42.1% |
| 2026 | -5.8% | +7.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGT and JBLU good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ALGT and JBLU?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.81 over the last year and 0.69 over 5 years.
Is JBLU a good diversifier for ALGT?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
On the −1 to +1 scale, 0.66 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: ALGT correlations · JBLU correlations
