CCL vs. UAL
CCL (Carnival Corporation & Plc) and UAL (United Airlines Holdings, Inc.) are both stocks. CCL operates in Travel Services (Consumer Cyclical), while UAL operates in Airlines (Industrials). Over the past 10 years, CCL returned -3.28%/yr vs 10.62%/yr for UAL. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
CCL vs. UAL - Performance Comparison
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Returns By Period
In the year-to-date period, CCL achieves a -3.42% return, which is significantly lower than UAL's 3.31% return. Over the past 10 years, CCL has underperformed UAL with an annualized return of -3.28%, while UAL has yielded a comparatively higher 10.62% annualized return.
CCL
- 1D
- 3.77%
- 1M
- 19.15%
- YTD
- -3.42%
- 6M
- 6.79%
- 1Y
- 31.61%
- 3Y*
- 24.35%
- 5Y*
- -0.29%
- 10Y*
- -3.28%
UAL
- 1D
- 2.58%
- 1M
- 24.42%
- YTD
- 3.31%
- 6M
- 8.12%
- 1Y
- 56.11%
- 3Y*
- 29.50%
- 5Y*
- 15.37%
- 10Y*
- 10.62%
CCL vs. UAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CCL Carnival Corporation & Plc | -3.42% | 22.55% | 34.41% | 130.02% | -59.94% | -7.11% | -56.89% | 7.37% | -23.40% | 30.76% |
UAL United Airlines Holdings, Inc. | 3.31% | 15.16% | 135.34% | 9.44% | -13.89% | 1.23% | -50.90% | 5.21% | 24.23% | -7.52% |
Correlation
The correlation between CCL and UAL is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2006 | 0.51 |
The correlation between CCL and UAL shifts across timeframes, from 0.51 (all time) to 0.66 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
CCL:
$40.62B
UAL:
$37.75B
CCL:
$2.21
UAL:
$11.21
CCL:
13.18
UAL:
10.31
CCL:
1.51
UAL:
0.62
CCL:
3.12
UAL:
2.38
CCL:
$26.98B
UAL:
$60.47B
CCL:
$10.13B
UAL:
$38.71B
CCL:
$7.23B
UAL:
$7.99B
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Return for Risk
CCL vs. UAL — Risk / Return Rank
CCL
UAL
CCL vs. UAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Carnival Corporation & Plc (CCL) and United Airlines Holdings, Inc. (UAL). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CCL | UAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.19 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 1.80 | -0.94 |
| Martin ratioReturn relative to average drawdown | 1.73 | 4.25 | -2.51 |
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Drawdowns
CCL vs. UAL - Drawdown Comparison
The maximum CCL drawdown since its inception was -90.37%, roughly equal to the maximum UAL drawdown of -93.50%. Use the drawdown chart below to compare losses from any high point for CCL and UAL.
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Drawdown Indicators
| CCL | UAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.37% | -93.50% | +3.13% |
Max Drawdown (1Y)Largest decline over 1 year | -29.30% | -27.50% | -1.80% |
Max Drawdown (3Y)Largest decline over 3 years | -42.85% | -49.19% | +6.34% |
Max Drawdown (5Y)Largest decline over 5 years | -78.21% | -49.19% | -29.02% |
Max Drawdown (10Y)Largest decline over 10 years | -90.37% | -79.40% | -10.97% |
Current DrawdownCurrent decline from peak | -55.46% | -1.71% | -53.75% |
Average DrawdownAverage peak-to-trough decline | -28.58% | -37.22% | +8.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.54% | 11.62% | +2.92% |
Volatility
CCL vs. UAL - Volatility Comparison
The current volatility for Carnival Corporation & Plc (CCL) is 16.53%, while United Airlines Holdings, Inc. (UAL) has a volatility of 19.24%. This indicates that CCL experiences smaller price fluctuations and is considered to be less risky than UAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CCL | UAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.53% | 19.24% | -2.71% |
Volatility (6M)Calculated over the trailing 6-month period | 39.11% | 37.96% | +1.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.77% | 50.25% | -2.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.59% | 48.85% | +6.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.65% | 51.86% | +5.79% |
Dividends
CCL vs. UAL - Dividend Comparison
CCL's dividend yield for the trailing twelve months is around 1.03%, while UAL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CCL Carnival Corporation & Plc | 1.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.31% | 3.93% | 3.96% | 2.41% | 2.59% | 2.02% |
UAL United Airlines Holdings, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
CCL vs. UAL - Financials Comparison
This section allows you to compare key financial metrics between Carnival Corporation & Plc and United Airlines Holdings, 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
CCL vs. UAL - Profitability Comparison
CCL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Carnival Corporation & Plc reported a gross profit of 2.23B and revenue of 6.17B. Therefore, the gross margin over that period was 36.1%.
UAL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, United Airlines Holdings, Inc. reported a gross profit of 9.11B and revenue of 14.61B. Therefore, the gross margin over that period was 62.4%.
CCL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Carnival Corporation & Plc reported an operating income of 607.00M and revenue of 6.17B, resulting in an operating margin of 9.9%.
UAL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, United Airlines Holdings, Inc. reported an operating income of 997.00M and revenue of 14.61B, resulting in an operating margin of 6.8%.
CCL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Carnival Corporation & Plc reported a net income of 258.00M and revenue of 6.17B, resulting in a net margin of 4.2%.
UAL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, United Airlines Holdings, Inc. reported a net income of 699.00M and revenue of 14.61B, resulting in a net margin of 4.8%.
Frequently Asked Questions
CCL and UAL have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UAL has higher volatility (19.24%) compared to CCL (16.53%). In terms of maximum drawdown, CCL dropped -90.37% vs UAL's -93.50%.
UAL currently has the higher Sharpe Ratio (0.98 vs 0.53), 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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