AAL vs. ALK
AAL (American Airlines Group Inc.) and ALK (Alaska Air Group, Inc.) are both stocks. Both operate in the Airlines industry within the Industrials sector. Over the past 10 years, AAL returned -7.26%/yr vs -3.18%/yr for ALK. A 0.67 correlation means they provide meaningful diversification when combined.
Performance
AAL vs. ALK - Performance Comparison
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Returns By Period
In the year-to-date period, AAL achieves a -9.13% return, which is significantly higher than ALK's -12.70% return. Over the past 10 years, AAL has underperformed ALK with an annualized return of -7.26%, while ALK has yielded a comparatively higher -3.18% annualized return.
AAL
- 1D
- -2.86%
- 1M
- 17.65%
- YTD
- -9.13%
- 6M
- -2.18%
- 1Y
- 22.41%
- 3Y*
- -2.15%
- 5Y*
- -10.99%
- 10Y*
- -7.26%
ALK
- 1D
- -1.37%
- 1M
- 13.90%
- YTD
- -12.70%
- 6M
- 2.93%
- 1Y
- -13.73%
- 3Y*
- -1.61%
- 5Y*
- -7.68%
- 10Y*
- -3.18%
AAL vs. ALK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AAL American Airlines Group Inc. | -9.13% | -12.05% | 26.86% | 8.02% | -29.18% | 13.89% | -44.81% | -9.57% | -37.69% | 12.40% |
ALK Alaska Air Group, Inc. | -12.70% | -22.32% | 65.73% | -9.01% | -17.58% | 0.19% | -22.81% | 13.78% | -15.55% | -15.90% |
Correlation
The correlation between AAL and ALK is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2005 | 0.67 |
The correlation between AAL and ALK has been stable across timeframes, ranging from 0.67 to 0.74 - a consistent structural relationship.
Fundamentals
AAL:
$9.21B
ALK:
$5.02B
AAL:
$0.31
ALK:
$0.61
AAL:
45.58
ALK:
71.58
AAL:
0.52
ALK:
1.37
AAL:
0.16
ALK:
0.36
AAL:
$55.99B
ALK:
$14.40B
AAL:
$12.21B
ALK:
$11.07B
AAL:
$4.16B
ALK:
$1.02B
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Return for Risk
AAL vs. ALK — Risk / Return Rank
AAL
ALK
AAL vs. ALK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Airlines Group Inc. (AAL) and Alaska Air Group, Inc. (ALK). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| AAL | ALK | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.46 | -0.28 | +0.74 |
Sortino ratioReturn per unit of downside risk | 1.02 | -0.08 | +1.10 |
Omega ratioGain probability vs. loss probability | 1.12 | 0.99 | +0.13 |
Calmar ratioReturn relative to maximum drawdown | 0.59 | -0.30 | +0.89 |
Martin ratioReturn relative to average drawdown | 1.39 | -0.55 | +1.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AAL | ALK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | -0.28 | +0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.23 | -0.18 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.14 | -0.07 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.02 | 0.17 | -0.19 |
Drawdowns
AAL vs. ALK - Drawdown Comparison
The maximum AAL drawdown since its inception was -97.20%, which is greater than ALK's maximum drawdown of -75.76%. Use the drawdown chart below to compare losses from any high point for AAL and ALK.
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Drawdown Indicators
| AAL | ALK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.20% | -75.76% | -21.44% |
Max Drawdown (1Y)Largest decline over 1 year | -37.39% | -46.46% | +9.07% |
Max Drawdown (3Y)Largest decline over 3 years | -51.76% | -55.37% | +3.61% |
Max Drawdown (5Y)Largest decline over 5 years | -62.67% | -55.37% | -7.30% |
Max Drawdown (10Y)Largest decline over 10 years | -84.14% | -75.06% | -9.08% |
Current DrawdownCurrent decline from peak | -76.53% | -53.52% | -23.01% |
Average DrawdownAverage peak-to-trough decline | -60.42% | -27.81% | -32.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.84% | 25.04% | -9.20% |
Volatility
AAL vs. ALK - Volatility Comparison
The current volatility for American Airlines Group Inc. (AAL) is 14.89%, while Alaska Air Group, Inc. (ALK) has a volatility of 16.85%. This indicates that AAL experiences smaller price fluctuations and is considered to be less risky than ALK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAL | ALK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.89% | 16.85% | -1.96% |
Volatility (6M)Calculated over the trailing 6-month period | 33.78% | 39.23% | -5.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.80% | 49.54% | -0.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.05% | 42.23% | +5.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.00% | 43.32% | +9.68% |
Dividends
AAL vs. ALK - Dividend Comparison
Neither AAL nor ALK has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAL American Airlines Group Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.63% | 1.39% | 1.25% | 0.77% | 0.86% | 0.94% |
ALK Alaska Air Group, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.72% | 2.07% | 2.10% | 1.63% | 1.24% | 0.99% |
Financials
AAL vs. ALK - Financials Comparison
This section allows you to compare key financial metrics between American Airlines Group Inc. and Alaska Air Group, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
AAL vs. ALK - Profitability Comparison
AAL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, American Airlines Group Inc. reported a gross profit of 3.62B and revenue of 13.91B. Therefore, the gross margin over that period was 26.0%.
ALK - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Alaska Air Group, Inc. reported a gross profit of 3.09B and revenue of 3.30B. Therefore, the gross margin over that period was 93.6%.
AAL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, American Airlines Group Inc. reported an operating income of -41.00M and revenue of 13.91B, resulting in an operating margin of -0.3%.
ALK - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Alaska Air Group, Inc. reported an operating income of -279.00M and revenue of 3.30B, resulting in an operating margin of -8.5%.
AAL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, American Airlines Group Inc. reported a net income of -382.00M and revenue of 13.91B, resulting in a net margin of -2.8%.
ALK - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Alaska Air Group, Inc. reported a net income of -193.00M and revenue of 3.30B, resulting in a net margin of -5.9%.
Frequently Asked Questions
AAL and ALK have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ALK has higher volatility (16.85%) compared to AAL (14.89%). In terms of maximum drawdown, AAL dropped -97.20% vs ALK's -75.76%.
AAL currently has the higher Sharpe Ratio (0.46 vs -0.28), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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