DAL vs SKYW: Correlation
Delta Air Lines (DAL) and SkyWest, Inc. (SKYW) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DAL and SKYW?
On 3 years of weekly data the DAL/SKYW correlation comes out at 0.65, strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. The 5-year figure is 0.64, and annualized covariance runs at 805.1 %².
Within DAL's tracked universe of 33 assets, SKYW comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DAL outperformed by 53.2 percentage points (+33.9% for DAL against -19.3% for SKYW).
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 SKYW: side by side
| DAL (Delta Air Lines) | SKYW (SkyWest, Inc.) | |
|---|---|---|
| 1-year return | +33.9% | -19.3% |
| 5-year return | +110.6% | +114.2% |
| Volatility (ann.) | 37.1% | 33.3% |
| Beta vs S&P 500 | 1.17 | 0.95 |
| Max drawdown (3Y) | -47.9% | -36.6% |
| Market cap | – | $3.8B |
| P/E (trailing) | 13.8 | 9.8 |
| Dividend yield | 0.94% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | DAL | SKYW |
|---|---|---|
| 2022 | -15.9% | -58.0% |
| 2023 | +23.0% | +216.2% |
| 2024 | +52.0% | +91.8% |
| 2025 | +16.1% | +0.3% |
| 2026 | +17.8% | -1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DAL and SKYW good diversifiers for each other?
To a limited degree. At 0.65 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 DAL and SKYW?
As of 2026-08-27, the correlation of weekly returns between DAL and SKYW is 0.65 over 3 years, 0.69 over 1 year and 0.64 over 5 years.
Is SKYW a good diversifier for DAL?
To a limited degree. At 0.65 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 0.65 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/dal-vs-skyw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dal-vs-skyw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DAL correlations · SKYW correlations
