ALGT vs JETS: Correlation
Measured on weekly returns over the past three years, Allegiant Travel Company (ALGT) and US Global Jets ETF (JETS) carry a correlation of 0.77, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGT and JETS?
On 3 years of weekly data the ALGT/JETS correlation comes out at 0.77, strong. Lately the two have moved closer together, with the 1-year correlation at 0.89 versus 0.77 over 3 years. The 5-year figure is 0.76, and annualized covariance runs at 1302.8 %².
In ALGT's tracked universe of 15 assets, JETS sits right near the top at #1. Correlation aside, the last 12 months split them widely, with ALGT ahead by 15.3 points (+28.5% versus +13.2%). Risk is not evenly split, since ALGT carries 2.0 times the volatility of the other side.
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 JETS: side by side
| ALGT (Allegiant Travel Company) | JETS (US Global Jets ETF) | |
|---|---|---|
| 1-year return | +28.5% | +13.2% |
| 5-year return | -55.9% | +30.9% |
| Volatility (ann.) | 58.0% | 29.2% |
| Beta vs S&P 500 | 1.36 | 1.16 |
| Max drawdown (3Y) | -61.2% | -35.2% |
| Market cap | $2.2B | – |
| P/E (trailing) | 71.7 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | ALGT | JETS |
|---|---|---|
| 2022 | -63.6% | -19.0% |
| 2023 | +23.4% | +11.4% |
| 2024 | +16.0% | +33.2% |
| 2025 | -9.4% | +11.6% |
| 2026 | -5.8% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGT and JETS good diversifiers for each other?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ALGT and JETS?
Using weekly returns as of 2026-08-27: 0.77 over 3 years, with 0.89 over the last year and 0.76 over 5 years.
Is JETS a good diversifier for ALGT?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.77 mean?
A reading of 0.77 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-jets.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/algt-vs-jets/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALGT correlations · JETS correlations
