ALGT vs UAL: Correlation
Allegiant Travel Company (ALGT) and United Airlines Holdings (UAL) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGT and UAL?
On 3 years of weekly data the ALGT/UAL correlation comes out at 0.64, strong. The link has tightened recently: the 1-year correlation (0.81) runs above the 3-year figure (0.64). The 5-year figure is 0.65, and annualized covariance runs at 1723.7 %².
By 3-year correlation, UAL places #4 of the 15 assets tracked against ALGT. Their recent paths diverged sharply: over the last 12 months ALGT outperformed by 20.7 percentage points (+28.5% for ALGT against +7.8% for UAL).
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 UAL: side by side
| ALGT (Allegiant Travel Company) | UAL (United Airlines Holdings) | |
|---|---|---|
| 1-year return | +28.5% | +7.8% |
| 5-year return | -55.9% | +144.8% |
| Volatility (ann.) | 58.0% | 46.6% |
| Beta vs S&P 500 | 1.36 | 1.33 |
| Max drawdown (3Y) | -61.2% | -49.2% |
| Market cap | $2.2B | $36.5B |
| P/E (trailing) | 71.7 | 10.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | ALGT | UAL |
|---|---|---|
| 2022 | -63.6% | -13.9% |
| 2023 | +23.4% | +9.4% |
| 2024 | +16.0% | +135.3% |
| 2025 | -9.4% | +15.2% |
| 2026 | -5.8% | +0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGT and UAL good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ALGT and UAL?
As of 2026-08-27, the correlation of weekly returns between ALGT and UAL is 0.64 over 3 years, 0.81 over 1 year and 0.65 over 5 years.
Is UAL a good diversifier for ALGT?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
A reading of 0.64 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-ual.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/algt-vs-ual/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALGT correlations · UAL correlations
