Southwest Airlines Correlations
| SWN Stock | EUR 30.88 0.62 2.05% |
The current 90-days correlation between Southwest Airlines and RYANAIR HLDGS ADR is -0.17 (i.e., Good diversification). The correlation of Southwest Airlines 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.
Southwest Airlines Correlation With Market
Average diversification
The correlation between Southwest Airlines Co 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 Southwest Airlines Co and DJI in the same portfolio, assuming nothing else is changed.
Southwest |
The ability to find closely correlated positions to Southwest Airlines could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Southwest Airlines when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Southwest Airlines - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Southwest Airlines Co to buy it.
Moving together with Southwest Stock
| 0.92 | OYC | Delta Air Lines | PairCorr |
| 0.81 | AD2 | Air China Limited | PairCorr |
| 0.83 | AD2B | AIR CHINA LTD | PairCorr |
| 0.82 | ZNHH | China Southern Airlines | PairCorr |
| 0.85 | RY4C | Ryanair Holdings plc | PairCorr |
| 0.85 | RY4C | Ryanair Holdings plc | PairCorr |
| 0.63 | KBIA | KB Financial Group | PairCorr |
| 0.62 | 6GAA | Grupo Aval Acciones | PairCorr |
| 0.61 | 6GAA | Grupo Aval Acciones | PairCorr |
| 0.83 | MFZA | Mitsubishi UFJ Financial | PairCorr |
| 0.76 | EK7 | AGRICUL BK CHINA | PairCorr |
| 0.85 | UN3 | United Natural Foods | PairCorr |
Moving against Southwest Stock
| 0.76 | ECHA | Ecopetrol SA | PairCorr |
| 0.75 | ECHA | Ecopetrol SA | PairCorr |
| 0.68 | HYU | Hyundai Motor | PairCorr |
| 0.67 | HYU | Hyundai Motor | PairCorr |
| 0.63 | HYU | Hyundai Motor | PairCorr |
| 0.4 | DBPD | Xtrackers ShortDAX | PairCorr |
Related Correlations Analysis
Please specify at least 3 valid symbols having historical data to build a meaningful correlation cloud. You can use symbol search above to locate your securities.
Be your own money manager
Our tools can tell you how much better you can do entering a position in Southwest Airlines without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Price Ceiling Movement Now
Price Ceiling MovementCalculate and plot Price Ceiling Movement for different equity instruments |
| All Next | Launch Module |