LUV vs RNST: Correlation
How closely do Southwest Airlines (LUV) and Renasant Corporation (RNST) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LUV and RNST?
Over the past 3 years, LUV and RNST moved with a correlation of 0.56, which is moderate. Little has changed lately, as the 1-year reading of 0.60 lands near the 3-year figure. Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 685.5 %².
By 3-year correlation, RNST places #8 of the 32 assets tracked against LUV. On 12-month performance LUV holds a 14.9-point edge, +22.0% against +7.1%.
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.
LUV vs RNST: side by side
| LUV (Southwest Airlines) | RNST (Renasant Corporation) | |
|---|---|---|
| 1-year return | +22.0% | +7.1% |
| 5-year return | -12.3% | +34.8% |
| Volatility (ann.) | 40.5% | 30.4% |
| Beta vs S&P 500 | 1.11 | 0.95 |
| Max drawdown (3Y) | -33.5% | -29.3% |
| Market cap | $19.5B | $3.8B |
| P/E (trailing) | 25.5 | 12.1 |
| Dividend yield | 1.77% | 2.24% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | LUV | RNST |
|---|---|---|
| 2022 | -21.4% | +1.7% |
| 2023 | -11.8% | -7.7% |
| 2024 | +19.1% | +9.1% |
| 2025 | +25.6% | +1.0% |
| 2026 | -3.0% | +18.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LUV and RNST good diversifiers for each other?
Only partially. A correlation of 0.56 means LUV and RNST 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 LUV and RNST?
The LUV/RNST correlation stands at 0.56 on a 3-year window (1 year: 0.60, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is RNST a good diversifier for LUV?
Only partially. A correlation of 0.56 means LUV and RNST share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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/luv-vs-rnst.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/luv-vs-rnst/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LUV correlations · RNST correlations
