Delta Air Correlations

Stocks . USA . 
Stock . Delta Air Lines
DAL Stock  USD 49.59  0.62  1.27%   
The current 90-days correlation between Delta Air Lines and American Airlines Group is 0.95 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Delta Air moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Delta Air Lines moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Delta Air Correlation With Market

Very poor diversification

The correlation between Delta Air Lines and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Delta Air Lines and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Delta Air Lines. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Delta Stock

  0.94AAL American Airlines Aggressive PushPairCorr
  0.84ALK Alaska Air GroupPairCorr
  0.88CPA Copa Holdings SAPairCorr
  0.83LTM LATAM Airlines GroupPairCorr
  0.84LUV Southwest AirlinesPairCorr
  0.85NSC Norfolk SouthernPairCorr
  0.87UAL United Airlines HoldingsPairCorr
  0.73JBLU JetBlue Airways Corp Aggressive PushPairCorr
  0.73ODFL Old Dominion FreightPairCorr
  0.8RYAAY Ryanair Holdings PLCPairCorr
  0.9ALGT Allegiant TravelPairCorr
  0.96SKYW SkyWestPairCorr
  0.79TFII TFI InternationalPairCorr
  0.88J Jacobs SolutionsPairCorr
  0.79R Ryder System Earnings Call This WeekPairCorr
  0.92AL Air LeasePairCorr
  0.77AP Ampco PittsburghPairCorr
  0.72AZ A2Z Smart TechnologiesPairCorr
  0.92BA Boeing Aggressive PushPairCorr
  0.88BV BrightView HoldingsPairCorr
  0.81BW Babcock Wilcox Enter Buyout TrendPairCorr
  0.82CP Canadian Pacific RailwayPairCorr
  0.89CR Crane CompanyPairCorr
  0.8CW Curtiss WrightPairCorr
  0.9DE Deere CompanyPairCorr
  0.76DY Dycom IndustriesPairCorr
  0.87FA First Advantage CorpPairCorr

Moving against Delta Stock

  0.65G Genpact LimitedPairCorr
  0.41SAIA Saia IncPairCorr
  0.59MG Mistras GroupPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
LUV
+ 0.88
AAL
JBLU
+ 0.88
LUV
JBLU
+ 0.85
AAL
ULCC
+ 0.82
JBLU
UAL
+ 0.81
LUV
UAL
+ 0.79
AAL
  
High negative correlations   
ULCC
- 0.0
SAVE
UAL
- 0.0
SAVE
SAVE
- 0.0
JBLU
SAVE
- 0.0
LUV
SAVE
- 0.0
AAL

Risk-Adjusted Indicators

There is a big difference between Delta Stock performing well and Delta Air Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Delta Air's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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