Allegiant Travel Company (ALGT) — Stock Correlations & Overview
Over the past year, ALGT has moved most closely with JETS, JETU, DAL. Explore the stocks most correlated and inversely correlated with ALGT below, along with its price, financials, and company profile.
Stocks correlated with ALGT
Correlation of daily returns. Higher positive values move with ALGT; negative values move opposite it. Informational only, not investment advice.
Most correlated with ALGT
| Symbol | Company | Correlation |
|---|---|---|
| JETS | U.S. Global Jets ETF | 0.84 |
| JETU | MAX Airlines 3x Leveraged ETNCOMMERCIAL BANKS, NEC | 0.78 |
| DAL | Delta Air Lines, Inc.AIR TRANSPORTATION, SCHEDULED | 0.77 |
| AAL | American Airlines Group Inc.AIR TRANSPORTATION, SCHEDULED | 0.75 |
| AALG | Leverage Shares 2X Long AAL Daily ETF | 0.74 |
Most inversely correlated with ALGT
| Symbol | Company | Correlation |
|---|---|---|
| JETD | MAX Airlines -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.78 |
| FLYD | MicroSectors Travel -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.67 |
| SDD | ProShares UltraShort SmallCap600 | -0.66 |
| SBB | ProShares Short SmallCap600 | -0.66 |
| SMDD | ProShares UltraPro Short MidCap400 | -0.61 |
Frequently asked questions about ALGT correlations
- Which stocks are most correlated with ALGT?
- Based on one year of daily returns, the stocks most correlated with Allegiant Travel Company (ALGT) are JETS (0.84), JETU (0.78) and DAL (0.77). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with ALGT?
- Over the past year, the stocks most inversely correlated with Allegiant Travel Company (ALGT) are JETD (-0.78), FLYD (-0.67) and SDD (-0.66). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these ALGT correlations calculated?
- We compute the correlation of daily returns between ALGT and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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