DAL vs. LUV
DAL (Delta Air Lines, Inc.) and LUV (Southwest Airlines Co.) are both stocks. Both operate in the Airlines industry within the Industrials sector. Over the past 10 years, DAL returned 10.68%/yr vs 3.66%/yr for LUV. A 0.70 correlation means they provide meaningful diversification when combined.
Performance
DAL vs. LUV - Performance Comparison
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Returns By Period
In the year-to-date period, DAL achieves a 24.47% return, which is significantly higher than LUV's 18.54% return. Over the past 10 years, DAL has outperformed LUV with an annualized return of 10.68%, while LUV has yielded a comparatively lower 3.66% annualized return.
DAL
- 1D
- 2.07%
- 1M
- 12.84%
- YTD
- 24.47%
- 6M
- 19.87%
- 1Y
- 84.21%
- 3Y*
- 27.48%
- 5Y*
- 14.42%
- 10Y*
- 10.68%
LUV
- 1D
- 1.25%
- 1M
- 19.39%
- YTD
- 18.54%
- 6M
- 16.49%
- 1Y
- 57.64%
- 3Y*
- 15.17%
- 5Y*
- -0.93%
- 10Y*
- 3.66%
DAL vs. LUV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DAL Delta Air Lines, Inc. | 24.47% | 16.09% | 52.00% | 23.03% | -15.92% | -2.81% | -30.77% | 20.38% | -8.66% | 16.23% |
LUV Southwest Airlines Co. | 18.54% | 25.62% | 19.11% | -11.82% | -21.41% | -8.09% | -13.32% | 17.72% | -28.21% | 32.40% |
Correlation
The correlation between DAL and LUV is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since May 3, 2007 | 0.70 |
The correlation between DAL and LUV shifts across timeframes, from 0.65 (3 years) to 0.77 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
DAL:
$56.02B
LUV:
$24.43B
DAL:
$6.85
LUV:
$1.56
DAL:
12.54
LUV:
31.08
DAL:
0.86
LUV:
0.88
DAL:
2.75
LUV:
3.55
DAL:
$65.18B
LUV:
$28.88B
DAL:
$17.07B
LUV:
$6.36B
DAL:
$9.66B
LUV:
$2.74B
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Return for Risk
DAL vs. LUV — Risk / Return Rank
DAL
LUV
DAL vs. LUV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Delta Air Lines, Inc. (DAL) and Southwest Airlines Co. (LUV). 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.
| DAL | LUV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.25 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 1.73 | +1.97 |
| Martin ratioReturn relative to average drawdown | 11.81 | 3.43 | +8.38 |
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Drawdowns
DAL vs. LUV - Drawdown Comparison
The maximum DAL drawdown since its inception was -81.93%, roughly equal to the maximum LUV drawdown of -78.25%. Use the drawdown chart below to compare losses from any high point for DAL and LUV.
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Drawdown Indicators
| DAL | LUV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.93% | -78.25% | -3.68% |
Max Drawdown (1Y)Largest decline over 1 year | -22.90% | -33.49% | +10.59% |
Max Drawdown (3Y)Largest decline over 3 years | -47.92% | -42.93% | -4.99% |
Max Drawdown (5Y)Largest decline over 5 years | -47.92% | -58.75% | +10.83% |
Max Drawdown (10Y)Largest decline over 10 years | -69.18% | -64.76% | -4.42% |
Current DrawdownCurrent decline from peak | 0.00% | -18.29% | +18.29% |
Average DrawdownAverage peak-to-trough decline | -29.09% | -29.13% | +0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.16% | 16.87% | -9.71% |
Volatility
DAL vs. LUV - Volatility Comparison
Delta Air Lines, Inc. (DAL) and Southwest Airlines Co. (LUV) have volatilities of 12.24% and 12.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DAL | LUV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.24% | 12.62% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 30.06% | 35.26% | -5.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.43% | 45.31% | -3.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.00% | 38.51% | +2.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.25% | 37.74% | +4.51% |
Dividends
DAL vs. LUV - Dividend Comparison
DAL's dividend yield for the trailing twelve months is around 0.87%, less than LUV's 1.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DAL Delta Air Lines, Inc. | 0.87% | 0.97% | 0.83% | 0.50% | 0.00% | 0.00% | 1.00% | 2.57% | 2.63% | 1.81% | 1.37% | 0.89% |
LUV Southwest Airlines Co. | 1.48% | 1.74% | 2.14% | 3.12% | 0.00% | 0.00% | 0.39% | 1.30% | 1.30% | 0.73% | 0.75% | 0.66% |
Financials
DAL vs. LUV - Financials Comparison
This section allows you to compare key financial metrics between Delta Air Lines, Inc. and Southwest Airlines Co.. 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
DAL vs. LUV - Profitability Comparison
DAL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Delta Air Lines, Inc. reported a gross profit of 4.54B and revenue of 15.85B. Therefore, the gross margin over that period was 28.6%.
LUV - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Southwest Airlines Co. reported a gross profit of 2.34B and revenue of 7.25B. Therefore, the gross margin over that period was 32.2%.
DAL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Delta Air Lines, Inc. reported an operating income of 501.00M and revenue of 15.85B, resulting in an operating margin of 3.2%.
LUV - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Southwest Airlines Co. reported an operating income of 330.00M and revenue of 7.25B, resulting in an operating margin of 4.6%.
DAL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Delta Air Lines, Inc. reported a net income of -289.00M and revenue of 15.85B, resulting in a net margin of -1.8%.
LUV - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Southwest Airlines Co. reported a net income of 227.00M and revenue of 7.25B, resulting in a net margin of 3.1%.
Frequently Asked Questions
DAL and LUV have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LUV has higher volatility (12.62%) compared to DAL (12.24%). In terms of maximum drawdown, DAL dropped -81.93% vs LUV's -78.25%.
DAL currently has the higher Sharpe Ratio (2.05 vs 1.28), 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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