DAL vs IEX: Correlation
Delta Air Lines (DAL) and IDEX Corporation (IEX) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DAL and IEX?
Across a 3-year window, the weekly returns of DAL and IEX correlate at 0.49, moderate. The link has loosened recently: the 1-year correlation (0.38) runs below the 3-year figure (0.49). Stretching to 5 years gives 0.44, with an annualized covariance of 424.6 %².
Among the 33 assets we track against DAL, IEX ranks #18 by 3-year correlation. Over the last 12 months IEX came out ahead by 9.1 percentage points (+33.9% against +43.0%). The rolling one-year correlation moved between 0.34 and 0.60 over the past three years, a moderate range. Risk is not evenly split, since DAL carries 1.6 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.
DAL vs IEX: side by side
| DAL (Delta Air Lines) | IEX (IDEX Corporation) | |
|---|---|---|
| 1-year return | +33.9% | +43.0% |
| 5-year return | +110.6% | +10.5% |
| Volatility (ann.) | 37.1% | 23.3% |
| Beta vs S&P 500 | 1.17 | 0.89 |
| Max drawdown (3Y) | -47.9% | -34.6% |
| Market cap | – | $17.2B |
| P/E (trailing) | 13.8 | 33.8 |
| Dividend yield | 0.94% | 1.23% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | DAL | IEX |
|---|---|---|
| 2022 | -15.9% | -2.2% |
| 2023 | +23.0% | -3.8% |
| 2024 | +52.0% | -2.4% |
| 2025 | +16.1% | -13.7% |
| 2026 | +17.8% | +32.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DAL and IEX good diversifiers for each other?
Reasonably. At 0.49, DAL and IEX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DAL and IEX?
The DAL/IEX correlation stands at 0.49 on a 3-year window (1 year: 0.38, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is IEX a good diversifier for DAL?
Reasonably. At 0.49, DAL and IEX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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/dal-vs-iex.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: DAL correlations · IEX correlations
