Alaska Air Correlations

Stocks . USA . 
Stock . Alaska Air Group
ALK Stock  USD 51.00  0.01  0.02%   
The current 90-days correlation between Alaska Air Group and JetBlue Airways Corp is 0.24 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Alaska Air moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alaska Air Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Alaska Air Correlation With Market

Very weak diversification

The correlation between Alaska Air Group and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alaska Air Group and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alaska Air Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Alaska Stock

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Moving against Alaska Stock

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Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Alaska Stock performing well and Alaska 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 Alaska 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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