Mesa Air Correlations

MESA Stock

USD 0.87 0.01 1.16%

The current 90-days correlation between Mesa Air Group and Sun Country Airlines is 0.17 (i.e., Average diversification). The correlation of Mesa Air 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.

Mesa Air Correlation With Market

Significant diversification

The correlation between Mesa Air Group and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mesa Air Group and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mesa 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 state.

Moving together with Mesa Stock

0.79	CP	Canadian Pacific Railway	Pair Corr
0.76	FLYX	flyExclusive,	Pair Corr
0.84	CNI	Canadian National Railway Fiscal Year End 28th of January 2025	Pair Corr
0.7	UNP	Union Pacific Fiscal Year End 23rd of January 2025	Pair Corr
0.63	AIRT	Air T Inc	Pair Corr

Moving against Mesa Stock

0.93	AAL	American Airlines Aggressive Push	Pair Corr
0.92	UAL	United Airlines Holdings Fiscal Year End 27th of January 2025	Pair Corr
0.88	VLRS	Volaris	Pair Corr
0.88	DAL	Delta Air Lines Fiscal Year End 10th of January 2025	Pair Corr
0.85	ALK	Alaska Air Group Fiscal Year End 23rd of January 2025	Pair Corr
0.82	CPA	Copa Holdings SA	Pair Corr
0.72	LUV	Southwest Airlines Fiscal Year End 23rd of January 2025	Pair Corr
0.63	NSC	Norfolk Southern Fiscal Year End 24th of January 2025	Pair Corr
0.61	WERN	Werner Enterprises	Pair Corr
0.55	KNX	Knight Transportation Fiscal Year End 22nd of January 2025	Pair Corr
0.53	ULH	Universal Logistics	Pair Corr
0.87	ALGT	Allegiant Travel	Pair Corr
0.87	SKYW	SkyWest	Pair Corr
0.82	ATCOL	Atlas Corp	Pair Corr
0.75	SAIA	Saia Inc	Pair Corr
0.73	ATSG	Air Transport Services	Pair Corr
0.65	XPO	XPO Logistics	Pair Corr
0.61	ODFL	Old Dominion Freight	Pair Corr
0.6	RYAAY	Ryanair Holdings PLC	Pair Corr
0.49	JBLU	JetBlue Airways Corp	Pair Corr
0.94	AZ	A2Z Smart Technologies	Pair Corr
0.85	SNCY	Sun Country Airlines	Pair Corr
0.79	ULCC	Frontier Group Holdings	Pair Corr
0.77	J	Jacobs Solutions	Pair Corr
0.75	B	Barnes Group	Pair Corr
0.71	SNDR	Schneider National	Pair Corr
0.64	R	Ryder System	Pair Corr
0.51	AL	Air Lease	Pair Corr

Related Correlations Analysis

	ALGT	SNCY	ULCC	HA	AZUL	LTMAY	CPA	VLRS	ALK	JBLU
ALGT		0.8	0.89	0.78	-0.22	-0.88	0.91	0.87	0.94	0.64	ALGT
SNCY	0.8		0.64	0.88	-0.48	-0.76	0.65	0.88	0.83	0.25	SNCY
ULCC	0.89	0.64		0.7	-0.2	-0.77	0.86	0.76	0.84	0.84	ULCC
HA	0.78	0.88	0.7		-0.34	-0.79	0.73	0.89	0.78	0.3	HA
AZUL	-0.22	-0.48	-0.2	-0.34		0.23	-0.15	-0.42	-0.38	-0.14	AZUL
LTMAY	-0.88	-0.76	-0.77	-0.79	0.23		-0.82	-0.76	-0.78	-0.43	LTMAY
CPA	0.91	0.65	0.86	0.73	-0.15	-0.82		0.83	0.86	0.69	CPA
VLRS	0.87	0.88	0.76	0.89	-0.42	-0.76	0.83		0.93	0.48	VLRS
ALK	0.94	0.83	0.84	0.78	-0.38	-0.78	0.86	0.93		0.61	ALK
JBLU	0.64	0.25	0.84	0.3	-0.14	-0.43	0.69	0.48	0.61		JBLU
	ALGT	SNCY	ULCC	HA	AZUL	LTMAY	CPA	VLRS	ALK	JBLU

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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

ALK	+ 0.94	ALGT
ALK	+ 0.93	VLRS
CPA	+ 0.91	ALGT
ULCC	+ 0.89	ALGT
VLRS	+ 0.89	HA
HA	+ 0.88	SNCY

High negative correlations

LTMAY	- 0.88	ALGT
CPA	- 0.82	LTMAY
LTMAY	- 0.79	HA
ALK	- 0.78	LTMAY
LTMAY	- 0.77	ULCC
VLRS	- 0.76	LTMAY

Risk-Adjusted Indicators

There is a big difference between Mesa Stock performing well and Mesa 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 Mesa 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
ALGT	2.65	0.78	0.31	0.49	2.23	(3.20)	6.31	(4.49)	16.10
SNCY	2.78	0.48	0.18	0.37	2.59	(3.29)	8.41	(4.50)	16.71
ULCC	3.41	0.57	0.15	0.29	4.55	(4.02)	10.08	(3.98)	34.82
HA	2.50	0.61	0.14	(0.86)	2.67	(2.73)	6.96	(4.90)	18.66
AZUL	4.64	(0.70)	0.00	(0.20)	0.00	0.00	10.51	(9.35)	41.88
LTMAY	2.35	(0.26)	0.00	2.69	0.00	0.00	6.12	(5.77)	18.56
CPA	1.30	0.23	0.13	0.39	1.26	(1.44)	3.72	(2.20)	8.79
VLRS	1.77	0.56	0.29	7.01	1.20	(2.18)	4.80	(2.54)	12.44
ALK	1.58	0.54	0.36	0.51	0.92	(1.90)	4.71	(2.09)	9.94
JBLU	2.97	0.28	0.08	0.23	4.04	(3.23)	7.53	(6.73)	31.32

Mesa Air Corporate Management

Susan Donofrio	Head Relations	Profile
Torque Zubeck	Chief Officer	Profile
Charles Marshall	Director Pilot	Profile
Dean Sinerius	Director Inspector	Profile

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