ALGT vs ULCC: Correlation
Allegiant Travel Company (ALGT) and Frontier Group Holdings, Inc. (ULCC) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGT and ULCC?
On 3 years of weekly data the ALGT/ULCC correlation comes out at 0.69, strong. The past 12 months show a tighter link (0.79) than the 3-year average (0.69). The 5-year figure is 0.68, and annualized covariance runs at 3257.8 %².
ULCC is one of the assets that tracks ALGT most closely: it ranks #2 out of the 15 assets we track against ALGT. Over the last 12 months ALGT came out ahead by 5.1 percentage points (+28.5% against +23.4%).
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 ULCC: side by side
| ALGT (Allegiant Travel Company) | ULCC (Frontier Group Holdings, Inc.) | |
|---|---|---|
| 1-year return | +28.5% | +23.4% |
| 5-year return | -55.9% | -61.9% |
| Volatility (ann.) | 58.0% | 81.0% |
| Beta vs S&P 500 | 1.36 | 2.06 |
| Max drawdown (3Y) | -61.2% | -70.4% |
| Market cap | $2.2B | $1.4B |
| P/E (trailing) | 71.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALGT | ULCC |
|---|---|---|
| 2022 | -63.6% | -24.3% |
| 2023 | +23.4% | -46.8% |
| 2024 | +16.0% | +30.2% |
| 2025 | -9.4% | -33.8% |
| 2026 | -5.8% | +25.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGT and ULCC good diversifiers for each other?
Only partially. A correlation of 0.69 means ALGT and ULCC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ALGT and ULCC?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.79 over the last year and 0.68 over 5 years.
Is ULCC a good diversifier for ALGT?
Only partially. A correlation of 0.69 means ALGT and ULCC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.69 mean?
A reading of 0.69 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-ulcc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/algt-vs-ulcc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALGT correlations · ULCC correlations
