ALK vs. ^GSPC
ALK (Alaska Air Group, Inc.) is a stock, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, ALK returned -3.64%/yr vs 13.66%/yr for ^GSPC. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
ALK vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, ALK achieves a -16.76% return, which is significantly lower than ^GSPC's 10.35% return. Over the past 10 years, ALK has underperformed ^GSPC with an annualized return of -3.64%, while ^GSPC has yielded a comparatively higher 13.66% annualized return.
ALK
- 1D
- -4.65%
- 1M
- 13.28%
- YTD
- -16.76%
- 6M
- -7.71%
- 1Y
- -17.50%
- 3Y*
- -3.16%
- 5Y*
- -8.55%
- 10Y*
- -3.64%
^GSPC
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
ALK vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALK Alaska Air Group, Inc. | -16.76% | -22.32% | 65.73% | -9.01% | -17.58% | 0.19% | -22.81% | 13.78% | -15.55% | -15.90% |
^GSPC S&P 500 Index | 10.35% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
Correlation
The correlation between ALK and ^GSPC is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2001 | 0.52 |
The correlation between ALK and ^GSPC has been stable across timeframes, ranging from 0.46 to 0.55 - a consistent structural relationship.
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Return for Risk
ALK vs. ^GSPC — Risk / Return Rank
ALK
^GSPC
ALK vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alaska Air Group, Inc. (ALK) and S&P 500 Index (^GSPC). 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.
| ALK | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.59 | ||
| Sortino ratioReturn per unit of downside risk | -3.28 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.41 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.38 | 2.93 | -3.31 |
| Martin ratioReturn relative to average drawdown | -0.70 | 13.52 | -14.22 |
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
| ALK | ^GSPC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.35 | 2.24 | -2.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.20 | 0.73 | -0.93 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.08 | 0.76 | -0.84 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.47 | -0.31 |
Drawdowns
ALK vs. ^GSPC - Drawdown Comparison
The maximum ALK drawdown since its inception was -75.76%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for ALK and ^GSPC.
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Drawdown Indicators
| ALK | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.76% | -56.78% | -18.98% |
Max Drawdown (1Y)Largest decline over 1 year | -46.46% | -9.10% | -37.36% |
Max Drawdown (3Y)Largest decline over 3 years | -55.37% | -18.90% | -36.47% |
Max Drawdown (5Y)Largest decline over 5 years | -55.37% | -25.43% | -29.94% |
Max Drawdown (10Y)Largest decline over 10 years | -75.06% | -33.92% | -41.14% |
Current DrawdownCurrent decline from peak | -55.68% | -0.74% | -54.94% |
Average DrawdownAverage peak-to-trough decline | -27.82% | -10.72% | -17.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.13% | 1.97% | +23.16% |
Volatility
ALK vs. ^GSPC - Volatility Comparison
Alaska Air Group, Inc. (ALK) has a higher volatility of 17.03% compared to S&P 500 Index (^GSPC) at 2.93%. This indicates that ALK's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALK | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.03% | 2.93% | +14.10% |
Volatility (6M)Calculated over the trailing 6-month period | 39.51% | 8.99% | +30.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.76% | 11.89% | +37.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.25% | 16.90% | +25.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.34% | 18.06% | +25.28% |
Frequently Asked Questions
ALK and ^GSPC have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ALK has higher volatility (17.03%) compared to ^GSPC (2.93%). In terms of maximum drawdown, ALK dropped -75.76% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (2.24 vs -0.35), 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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