BA vs DAL: Correlation
How closely do Boeing (BA) and Delta Air Lines (DAL) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BA and DAL?
On 3 years of weekly data the BA/DAL correlation comes out at 0.44, moderate. Little has changed lately, as the 1-year reading of 0.35 lands near the 3-year figure. The 5-year figure is 0.49, and annualized covariance runs at 596.3 %².
Among the 37 assets we track against BA, DAL ranks #20 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DAL outperformed by 44.8 percentage points (-10.9% for BA against +33.9% for DAL). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.11 to 0.64.
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.
BA vs DAL: side by side
| BA (Boeing) | DAL (Delta Air Lines) | |
|---|---|---|
| 1-year return | -10.9% | +33.9% |
| 5-year return | -3.6% | +110.6% |
| Volatility (ann.) | 36.4% | 37.1% |
| Beta vs S&P 500 | 1.43 | 1.17 |
| Max drawdown (3Y) | -48.3% | -47.9% |
| Market cap | $165.9B | – |
| P/E (trailing) | 76.3 | 13.8 |
| Dividend yield | 0.00% | 0.94% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | BA | DAL |
|---|---|---|
| 2022 | -5.4% | -15.9% |
| 2023 | +36.8% | +23.0% |
| 2024 | -32.1% | +52.0% |
| 2025 | +22.7% | +16.1% |
| 2026 | -3.3% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BA and DAL good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BA and DAL?
The BA/DAL correlation stands at 0.44 on a 3-year window (1 year: 0.35, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is DAL a good diversifier for BA?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ba-vs-dal.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ba-vs-dal/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BA correlations · DAL correlations
