AUB vs LUV: Correlation
Measured on weekly returns over the past three years, Atlantic Union Bankshares Corporation (AUB) and Southwest Airlines (LUV) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AUB and LUV?
Across a 3-year window, the weekly returns of AUB and LUV correlate at 0.55, moderate. The past 12 months show a tighter link (0.66) than the 3-year average (0.55). Stretching to 5 years gives 0.49, with an annualized covariance of 702.4 %².
Within AUB's tracked universe of 50 assets, LUV comes in at #34 by 3-year correlation. Their 12-month results are close: +19.0% for AUB against +22.0% for LUV.
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.
AUB vs LUV: side by side
| AUB (Atlantic Union Bankshares Corporation) | LUV (Southwest Airlines) | |
|---|---|---|
| 1-year return | +19.0% | +22.0% |
| 5-year return | +33.7% | -12.3% |
| Volatility (ann.) | 31.5% | 40.5% |
| Beta vs S&P 500 | 1.07 | 1.11 |
| Max drawdown (3Y) | -44.7% | -33.5% |
| Market cap | $5.8B | $19.5B |
| P/E (trailing) | 11.9 | 25.5 |
| Dividend yield | 3.56% | 1.77% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | AUB | LUV |
|---|---|---|
| 2022 | -2.6% | -21.4% |
| 2023 | +8.1% | -11.8% |
| 2024 | +7.5% | +19.1% |
| 2025 | -2.7% | +25.6% |
| 2026 | +18.9% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AUB and LUV good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AUB and LUV?
As of 2026-08-27, the correlation of weekly returns between AUB and LUV is 0.55 over 3 years, 0.66 over 1 year and 0.49 over 5 years.
Is LUV a good diversifier for AUB?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aub-vs-luv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aub-vs-luv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AUB correlations · LUV correlations
