Surf Air Correlations

SRFM Stock

3.50 0.86 19.72%

The current 90-days correlation between Surf Air Mobility and Mesa Air Group is 0.27 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Surf Air moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Surf Air Mobility moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Surf Air Correlation With Market

Average diversification

The correlation between Surf Air Mobility and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Surf Air Mobility and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Surf Air Mobility. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Surf Stock

0.62	VLRS	Volaris	Pair Corr
0.76	AAL	American Airlines Aggressive Push	Pair Corr
0.69	ALK	Alaska Air Group Upward Rally	Pair Corr
0.64	DAL	Delta Air Lines Fiscal Year End 10th of January 2025	Pair Corr
0.8	LUV	Southwest Airlines Fiscal Year End 23rd of January 2025	Pair Corr
0.72	UAL	United Airlines Holdings Fiscal Year End 27th of January 2025	Pair Corr
0.74	ALGT	Allegiant Travel	Pair Corr
0.61	ATSG	Air Transport Services	Pair Corr
0.66	SKYW	SkyWest	Pair Corr
0.7	SNDR	Schneider National	Pair Corr
0.68	G	Genpact Limited	Pair Corr
0.7	R	Ryder System	Pair Corr
0.81	DIST	Distoken Acquisition	Pair Corr
0.72	AL	Air Lease	Pair Corr
0.65	AZ	A2Z Smart Technologies	Pair Corr
0.82	BE	Bloom Energy Corp	Pair Corr
0.83	BR	Broadridge Financial	Pair Corr

Moving against Surf Stock

0.79	BEST	BEST Inc	Pair Corr
0.49	AZUL	Azul SA	Pair Corr
0.45	FLYX	flyExclusive,	Pair Corr
0.76	GD	General Dynamics Fiscal Year End 22nd of January 2025	Pair Corr
0.62	CP	Canadian Pacific Railway	Pair Corr
0.49	GP	GreenPower Motor	Pair Corr
0.46	MG	Mistras Group	Pair Corr

Related Correlations Analysis

	VLRS	FLYX	ALK	CPA	DAL	LTM	LUV	UAL	JBLU	MESA
VLRS		-0.61	0.92	0.32	0.92	0.84	0.82	0.94	-0.01	-0.7	VLRS
FLYX	-0.61		-0.73	-0.6	-0.8	-0.76	-0.66	-0.76	-0.3	0.66	FLYX
ALK	0.92	-0.73		0.31	0.96	0.82	0.89	0.96	0.09	-0.64	ALK
CPA	0.32	-0.6	0.31		0.46	0.48	0.21	0.38	0.49	-0.67	CPA
DAL	0.92	-0.8	0.96	0.46		0.84	0.87	0.98	0.11	-0.74	DAL
LTM	0.84	-0.76	0.82	0.48	0.84		0.69	0.84	0.2	-0.64	LTM
LUV	0.82	-0.66	0.89	0.21	0.87	0.69		0.88	0.18	-0.47	LUV
UAL	0.94	-0.76	0.96	0.38	0.98	0.84	0.88		0.09	-0.72	UAL
JBLU	-0.01	-0.3	0.09	0.49	0.11	0.2	0.18	0.09		-0.17	JBLU
MESA	-0.7	0.66	-0.64	-0.67	-0.74	-0.64	-0.47	-0.72	-0.17		MESA
	VLRS	FLYX	ALK	CPA	DAL	LTM	LUV	UAL	JBLU	MESA

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

UAL	+ 0.98	DAL
DAL	+ 0.96	ALK
UAL	+ 0.96	ALK
UAL	+ 0.94	VLRS
ALK	+ 0.92	VLRS
DAL	+ 0.92	VLRS

High negative correlations

DAL	- 0.8	FLYX
UAL	- 0.76	FLYX
LTM	- 0.76	FLYX
MESA	- 0.74	DAL
ALK	- 0.73	FLYX
MESA	- 0.72	UAL

Risk-Adjusted Indicators

There is a big difference between Surf Stock performing well and Surf 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 Surf 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
VLRS	1.65	0.52	0.20	(1.94)	1.36	(1.89)	4.46	(2.63)	9.30
FLYX	3.36	(0.88)	0.00	(1.98)	0.00	0.00	5.76	(6.76)	39.28
ALK	1.74	0.57	0.35	0.73	1.01	(2.16)	4.23	(2.76)	9.06
CPA	1.39	0.04	(0.01)	0.21	2.52	(1.37)	3.72	(2.32)	17.31
DAL	1.72	0.38	0.28	0.34	1.21	(2.12)	4.11	(2.57)	10.43
LTM	1.12	0.26	0.12	1.54	1.13	(1.24)	2.84	(2.12)	6.14
LUV	1.43	0.09	0.04	0.21	1.68	(1.45)	2.96	(2.65)	10.99
UAL	1.91	0.83	0.54	0.52	0.93	(2.40)	6.47	(2.45)	16.69
JBLU	3.05	0.14	0.05	0.19	4.18	(3.32)	8.25	(6.73)	31.32
MESA	2.88	(0.09)	0.00	(0.05)	0.00	0.00	6.19	(6.38)	28.65

Surf Air Corporate Management

Ido Gruberger	Chief Officer	Profile
Deanna White	Senior Advisor	Profile
Frederick Reid	Global Development	Profile
Bryce Van	Chief Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC