Frontier Group Correlations

ULCC Stock

USD 3.46 0.34 8.95%

The current 90-days correlation between Frontier Group Holdings and JetBlue Airways Corp is 0.54 (i.e., Very weak diversification). The correlation of Frontier Group is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Frontier Group Correlation With Market

Weak diversification

The correlation between Frontier Group Holdings and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Frontier Group Holdings 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 Frontier Group Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Frontier Stock

0.81	CP	Canadian Pacific Railway Sell-off Trend	Pair Corr
0.9	VLRS	Volaris	Pair Corr
0.87	WERN	Werner Enterprises	Pair Corr
0.65	AAL	American Airlines Sell-off Trend	Pair Corr
0.8	ALK	Alaska Air Group	Pair Corr
0.73	CNI	Canadian National Railway	Pair Corr
0.94	CSX	CSX Corporation	Pair Corr
0.94	DAL	Delta Air Lines Earnings Call This Week	Pair Corr
0.91	KNX	Knight Transportation	Pair Corr
0.8	NSC	Norfolk Southern	Pair Corr
0.7	RXO	RXO Inc	Pair Corr
0.94	UAL	United Airlines Holdings	Pair Corr
0.75	XPO	XPO Logistics	Pair Corr
0.92	HTLD	Heartland Express	Pair Corr
0.82	JBLU	JetBlue Airways Corp	Pair Corr
0.89	MESA	Mesa Air Group	Pair Corr
0.82	MRTN	Marten Transport	Pair Corr
0.89	ODFL	Old Dominion Freight	Pair Corr
0.88	AIRT	Air T Inc	Pair Corr
0.86	ALGT	Allegiant Travel	Pair Corr
0.91	SAIA	Saia Inc	Pair Corr
0.89	ARCB	ArcBest Corp	Pair Corr
0.83	SKYW	SkyWest	Pair Corr
0.88	SNDR	Schneider National	Pair Corr
0.94	SNCY	Sun Country Airlines	Pair Corr
0.65	AZUL	Azul SA	Pair Corr
0.77	SRFM	Surf Air Mobility	Pair Corr
0.84	TFII	TFI International Buyout Trend	Pair Corr

Moving against Frontier Stock

0.63	ATSG	Air Transport Services	Pair Corr
0.38	YGMZ	Mingzhu Logistics	Pair Corr

Related Correlations Analysis

	JBLU	LUV	UAL	AAL	ALGT	SKYW	BABWF	ATSG	SAVE	DAL
JBLU		0.11	0.83	0.61	0.84	0.69	0.2	-0.76	0.0	0.81	JBLU
LUV	0.11		-0.05	-0.14	0.03	0.08	-0.38	-0.16	0.0	-0.1	LUV
UAL	0.83	-0.05		0.72	0.94	0.92	0.42	-0.67	0.0	0.99	UAL
AAL	0.61	-0.14	0.72		0.81	0.72	0.13	-0.67	0.0	0.72	AAL
ALGT	0.84	0.03	0.94	0.81		0.92	0.17	-0.76	0.0	0.93	ALGT
SKYW	0.69	0.08	0.92	0.72	0.92		0.29	-0.62	0.0	0.92	SKYW
BABWF	0.2	-0.38	0.42	0.13	0.17	0.29		0.18	0.0	0.47	BABWF
ATSG	-0.76	-0.16	-0.67	-0.67	-0.76	-0.62	0.18		0.0	-0.63	ATSG
SAVE	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	SAVE
DAL	0.81	-0.1	0.99	0.72	0.93	0.92	0.47	-0.63	0.0		DAL
	JBLU	LUV	UAL	AAL	ALGT	SKYW	BABWF	ATSG	SAVE	DAL

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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

DAL	+ 0.99	UAL
ALGT	+ 0.94	UAL
DAL	+ 0.93	ALGT
SKYW	+ 0.92	UAL
SKYW	+ 0.92	ALGT
DAL	+ 0.92	SKYW

High negative correlations

ATSG	- 0.76	ALGT
ATSG	- 0.76	JBLU
ATSG	- 0.67	AAL
ATSG	- 0.67	UAL
DAL	- 0.63	ATSG
ATSG	- 0.62	SKYW

Risk-Adjusted Indicators

There is a big difference between Frontier Stock performing well and Frontier Group 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 Frontier Group'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
JBLU	3.63	(0.68)	0.00	(0.62)	0.00	5.44	(8.21)	31.42
LUV	1.83	(0.21)	0.00	(0.35)	0.00	2.99	(4.23)	17.77
UAL	2.94	(0.51)	0.00	(0.46)	0.00	4.65	(5.96)	22.75
AAL	2.25	(0.74)	0.00	(0.91)	0.00	3.86	(5.96)	15.74
ALGT	3.00	(0.91)	0.00	(0.86)	0.00	4.83	(8.31)	21.20
SKYW	2.15	(0.25)	0.00	(0.38)	0.00	4.09	(5.45)	12.55
BABWF	1.51	(0.13)	0.00	(0.63)	0.00	5.67	(6.25)	20.10
ATSG	0.09	0.02	1.56	0.88	(0.14)	0.36	(0.13)	0.68
SAVE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DAL	2.43	(0.49)	0.00	(0.52)	0.00	3.99	(5.90)	19.75

Frontier Group Corporate Management

Steve Schuller	Senior Resources	Profile
Tyri Squyres	Vice Marketing	Profile
Daniel Shurz	Senior Commercial	Profile
Josh Wetzel	Chief VP	Profile
Alexandre Clerc	Senior Customers	Profile

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