UAL vs. SAVE

Last updated Jun 4, 2026

UAL (United Airlines Holdings, Inc.) and SAVE (Spirit Airlines, Inc.) are both stocks. Both operate in the Airlines industry within the Industrials sector. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

UAL vs. SAVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in United Airlines Holdings, Inc. (UAL) and Spirit Airlines, Inc. (SAVE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

UAL

• 1D: -3.38%
• 1M: 16.73%
• YTD: -5.97%
• 6M: -3.08%
• 1Y: 29.67%
• 3Y*: 29.42%
• 5Y*: 13.05%
• 10Y*: 9.03%

SAVE

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

UAL vs. SAVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UAL United Airlines Holdings, Inc.	-5.97%	15.16%	135.34%	9.44%	-13.89%	1.23%	-50.90%	5.21%	24.23%	-7.52%
SAVE Spirit Airlines, Inc.	0.00%	0.00%	-93.23%	-9.56%	-10.85%	-10.63%	-39.35%	-30.40%	29.14%	-22.49%

Correlation

The correlation between UAL and SAVE is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since May 27, 2011	0.51

The correlation between UAL and SAVE shifts across timeframes, from 0.16 (3 years) to 0.52 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap UAL : $34.36B SAVE : $118.28M
EPS UAL : $11.21 SAVE : -$25.20
PS Ratio UAL : 0.57 SAVE : 0.03
Total Revenue (TTM) UAL : $60.47B SAVE : $3.80B
Gross Profit (TTM) UAL : $38.71B SAVE : $1.21B
EBITDA (TTM) UAL : $7.99B SAVE : -$2.30B

Return for Risk

UAL vs. SAVE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UAL

UAL Risk / Return Rank: 60
UAL Sharpe Ratio Rank: 61
UAL Sortino Ratio Rank: 59
UAL Omega Ratio Rank: 55
UAL Calmar Ratio Rank: 62
UAL Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UAL vs. SAVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for United Airlines Holdings, Inc. (UAL) and Spirit Airlines, Inc. (SAVE). 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.

	UAL	SAVE	Difference
Sharpe ratio: Return per unit of total volatility	0.60	—	—
Sortino ratio: Return per unit of downside risk	1.24	—	—
Omega ratio: Gain probability vs. loss probability	1.14	—	—
Calmar ratio: Return relative to maximum drawdown	1.08	—	—
Martin ratio: Return relative to average drawdown	2.54	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	UAL	SAVE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.60	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	—	—

Drawdowns

Drawdown Indicators

	UAL	SAVE	Difference
Max Drawdown Largest peak-to-trough decline	-93.50%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-27.50%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-49.19%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-49.19%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-79.40%	—	—
Current Drawdown Current decline from peak	-10.54%	—	—
Average Drawdown Average peak-to-trough decline	-37.27%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	11.70%	—	—

Volatility

Volatility by Period

	UAL	SAVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.09%	—	—
Volatility (6M) Calculated over the trailing 6-month period	36.53%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	49.31%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.57%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.75%	—	—

Dividends

UAL vs. SAVE - Dividend Comparison

Neither UAL nor SAVE has paid dividends to shareholders.

Position	TTM	2025	2024	2023
SAVE Spirit Airlines, Inc.	0.00%	0.00%	18.52%	7.32%
UAL United Airlines Holdings, Inc.	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both UAL and SAVE in my portfolio?

UAL and SAVE have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.