Delta Air Correlations
| DAL Stock | USD 51.14 2.80 5.79% |
The current 90-days correlation between Delta Air Lines and American Airlines Group is 0.93 (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 0.81 (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.
Moving together with Delta Stock
| 0.84 | CP | Canadian Pacific Railway | PairCorr |
| 0.87 | VLRS | Volaris | PairCorr |
| 0.84 | WERN | Werner Enterprises | PairCorr |
| 0.7 | FLYX | flyExclusive, | PairCorr |
| 0.99 | AAL | American Airlines Aggressive Push | PairCorr |
| 0.98 | ALK | Alaska Air Group | PairCorr |
| 0.7 | CNI | Canadian National Railway | PairCorr |
| 0.93 | CSX | CSX Corporation Aggressive Push | PairCorr |
| 0.88 | NSC | Norfolk Southern | PairCorr |
| 0.99 | UAL | United Airlines Holdings | PairCorr |
| 0.8 | UNP | Union Pacific | PairCorr |
| 0.91 | JBLU | JetBlue Airways Corp | PairCorr |
| 0.68 | RVSNW | Rail Vision | PairCorr |
| 0.87 | MRTN | Marten Transport | PairCorr |
| 0.89 | ODFL | Old Dominion Freight | PairCorr |
| 0.98 | ALGT | Allegiant Travel | PairCorr |
| 0.81 | SAIA | Saia Inc | PairCorr |
| 0.86 | SKYW | SkyWest | PairCorr |
| 0.94 | SNCY | Sun Country Airlines | PairCorr |
| 0.83 | SRFM | Surf Air Mobility | PairCorr |
| 0.85 | TFII | TFI International | PairCorr |
| 0.94 | ULCC | Frontier Group Holdings | PairCorr |
| 0.71 | G | Genpact Limited | PairCorr |
| 0.85 | J | Jacobs Solutions | PairCorr |
| 0.88 | R | Ryder System | PairCorr |
| 0.71 | BE | Bloom Energy Corp | PairCorr |
Moving against Delta Stock
Related Correlations Analysis
| 0.33 | 0.92 | 0.0 | 0.98 | 0.96 | AAL | ||
| 0.33 | 0.56 | 0.0 | 0.33 | 0.4 | LUV | ||
| 0.92 | 0.56 | 0.0 | 0.9 | 0.94 | JBLU | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | SAVE | ||
| 0.98 | 0.33 | 0.9 | 0.0 | 0.92 | UAL | ||
| 0.96 | 0.4 | 0.94 | 0.0 | 0.92 | ULCC | ||
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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
| High negative correlations
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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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AAL | 3.03 | (0.32) | 0.00 | (0.23) | 0.00 | 4.89 | 37.08 | |||
| LUV | 2.32 | 0.20 | 0.04 | 0.04 | 3.83 | 3.74 | 25.02 | |||
| JBLU | 4.02 | (0.14) | 0.00 | (0.14) | 0.00 | 7.40 | 33.15 | |||
| SAVE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| UAL | 3.40 | (0.19) | 0.00 | (0.15) | 0.00 | 5.87 | 37.55 | |||
| ULCC | 4.50 | (0.66) | 0.00 | (0.37) | 0.00 | 7.71 | 36.14 |