Ryanair Holdings Correlations

RYAAY Stock

USD 46.12 0.06 0.13%

The current 90-days correlation between Ryanair Holdings PLC and Azul SA is 0.24 (i.e., Modest diversification). The correlation of Ryanair Holdings is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Ryanair Holdings Correlation With Market

Weak diversification

The correlation between Ryanair Holdings PLC and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ryanair Holdings PLC and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ryanair Holdings PLC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Ryanair Stock

0.66	CPA	Copa Holdings SA	Pair Corr
0.76	LTM	LATAM Airlines Group	Pair Corr
0.64	UNP	Union Pacific	Pair Corr
0.76	ATSG	Air Transport Services	Pair Corr

Moving against Ryanair Stock

0.63	AAL	American Airlines Aggressive Push	Pair Corr
0.57	WERN	Werner Enterprises	Pair Corr
0.51	ULH	Universal Logistics	Pair Corr
0.5	LUV	Southwest Airlines	Pair Corr
0.5	RXO	RXO Inc	Pair Corr
0.49	VLRS	Volaris	Pair Corr
0.4	UAL	United Airlines Holdings	Pair Corr
0.33	DAL	Delta Air Lines	Pair Corr
0.31	KNX	Knight Transportation	Pair Corr
0.72	JBLU	JetBlue Airways Corp	Pair Corr
0.62	MRTN	Marten Transport	Pair Corr
0.56	MESA	Mesa Air Group	Pair Corr
0.55	ALGT	Allegiant Travel	Pair Corr
0.55	ARCB	ArcBest Corp	Pair Corr
0.53	PAMT	PAMT P Symbol Change	Pair Corr
0.49	SAIA	Saia Inc	Pair Corr
0.43	XPO	XPO Logistics	Pair Corr
0.43	AIRT	Air T Inc	Pair Corr
0.33	HTLD	Heartland Express	Pair Corr
0.64	BV	BrightView Holdings	Pair Corr
0.63	TFII	TFI International	Pair Corr
0.5	J	Jacobs Solutions	Pair Corr
0.46	SNDR	Schneider National	Pair Corr
0.34	CVLG	Covenant Logistics Group,	Pair Corr

Related Correlations Analysis

	ALGT	AZUL	ALK	BABWF	GOL	DAL	AAL	LUV	JBLU	SAVE
ALGT		0.61	0.68	-0.07	0.0	0.9	0.96	0.19	0.76	0.0	ALGT
AZUL	0.61		0.4	-0.03	0.0	0.58	0.44	-0.11	0.19	0.0	AZUL
ALK	0.68	0.4		0.58	0.0	0.9	0.69	-0.37	0.42	0.0	ALK
BABWF	-0.07	-0.03	0.58		0.0	0.26	-0.06	-0.68	-0.24	0.0	BABWF
GOL	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	GOL
DAL	0.9	0.58	0.9	0.26	0.0		0.9	-0.1	0.62	0.0	DAL
AAL	0.96	0.44	0.69	-0.06	0.0	0.9		0.19	0.82	0.0	AAL
LUV	0.19	-0.11	-0.37	-0.68	0.0	-0.1	0.19		0.36	0.0	LUV
JBLU	0.76	0.19	0.42	-0.24	0.0	0.62	0.82	0.36		0.0	JBLU
SAVE	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		SAVE
	ALGT	AZUL	ALK	BABWF	GOL	DAL	AAL	LUV	JBLU	SAVE

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

AAL	+ 0.96	ALGT
DAL	+ 0.9	ALGT
DAL	+ 0.9	ALK
AAL	+ 0.9	DAL
JBLU	+ 0.82	AAL
JBLU	+ 0.76	ALGT

High negative correlations

LUV	- 0.68	BABWF
LUV	- 0.37	ALK
JBLU	- 0.24	BABWF
LUV	- 0.11	AZUL
LUV	- 0.1	DAL
BABWF	- 0.07	ALGT

Risk-Adjusted Indicators

There is a big difference between Ryanair Stock performing well and Ryanair Holdings Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Ryanair Holdings' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ALGT	2.77	(0.51)	0.00	(0.48)	0.00	0.00	4.46	(5.47)	19.78
AZUL	3.99	0.02	0.00	(0.02)	0.00	0.00	8.80	(6.42)	19.92
ALK	2.07	(0.16)	0.00	(0.14)	0.00	0.00	3.40	(6.18)	12.94
BABWF	1.41	0.10	0.03	(1.13)	1.91	(6.11)	5.67	(5.59)	19.79
GOL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DAL	2.11	(0.25)	0.00	(0.23)	0.00	0.00	3.99	(5.54)	16.26
AAL	2.07	(0.44)	0.00	(0.55)	0.00	0.00	3.86	(4.62)	13.86
LUV	1.40	0.14	0.08	0.27	1.73	(1.41)	2.99	(2.82)	9.18
JBLU	3.26	(0.18)	0.00	(0.23)	0.00	0.00	4.42	(5.86)	29.90
SAVE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Ryanair Holdings Corporate Management

Juliusz Komorek	Chief Legal and Regulatory Officer and Company Secretary	Profile
Carol Sharkey	Chief Risk Officer	Profile
John Tuite	Head of Finance	Profile
Captain Conway	Chief Pilot	Profile
Tracey McCann	Chief DAC	Profile
Dara Brady	Head Experience	Profile

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