Delta Air Lines Inc. vs United Airlines Holdings Inc.
WatchlistDAL / UALPrices through Oct 22, 2026
Why these are rivals: #2 and #3 by market value ($49B vs $31B) in Nasdaq's "Air Freight/Delivery Services" industry; SEC SIC 4512 / 4512 (same major group); #1 and #2 by market value ($49B vs $31B) with SEC SIC 4512 (Air Transportation, Scheduled).
Rivals, but right now the price gap does not have a measured habit of closing, so there is no paper idea, whatever the gap.
- Mean reversion: ADF t-statistic of the spread: -1.24 (needs <= -2.873 (5% critical value))
Business leadership
DAL is the larger business
Annual revenue reported to the SEC. Scale, not market share.
| Year | DAL | UAL | Larger |
|---|---|---|---|
| 2025 | $63.4B | $59.1B | DAL |
| 2024 | $61.6B | $57.1B | DAL |
| 2023 | $58.0B | $53.7B | DAL |
| 2022 | $50.6B | $45.0B | DAL |
| 2021 | $29.9B | $24.6B | DAL |
| 2020 | $17.1B | $15.4B | DAL |
DAL led in every year with figures for both. Market value: DAL $49.1B, UAL $31.0B.
Stock leadership
DAL is ahead now
Measured against the pair's own last 252 trading days.
DAL leads UAL by 1.58 standard deviations: +13.3% over its usual price ratio. 1 lead switch in the last year.
| Price change | 3 mo | 6 mo | 12 mo |
|---|---|---|---|
| DAL | -6.8% | +15.9% | +27.2% |
| UAL | -13.8% | +11.8% | +1.9% |
Relationship
Not a measured twin today
Only these tests can make a pair tradable on paper.
- Pass
- Aligned sessions: 2521 (needs >= 254)
- Pass
- Co-movement: daily return correlation, 252 sessions: 0.90 (needs >= 0.60)
- Fail
- Mean reversion: ADF t-statistic of the spread: -1.24 (needs <= -2.873 (5% critical value))
- Pass
- Speed: half-life of the spread, sessions: 49.38 (needs <= 63)
- Data
- Both stocks current
The twins over two years
Prices side by side, and the gap between them
DAL Delta Air Lines Inc. UAL United Airlines Holdings Inc.Price index, 100 = 2024-10-18. Tint = which stock is ahead of the pair's usual 1-year relationship (z beyond +/-0.5).
Spread z-score: DAL relative to UAL, against the 252 sessions before each day. Above 0: DAL ahead; below 0: UAL ahead. Lines at +/-2 (idea) and +/-4 (stop).
Data table (504 sessions)
| Date | DAL index | UAL index | z | Ahead |
|---|---|---|---|---|
| 2026-10-22 | 142.04 | 137.56 | +1.58 | DAL ahead |
| 2026-10-21 | 139.19 | 137.11 | +1.37 | DAL ahead |
| 2026-10-20 | 137.38 | 131.85 | +1.72 | DAL ahead |
| 2026-10-19 | 133.75 | 128.93 | +1.68 | DAL ahead |
| 2026-10-16 | 135.07 | 129.60 | +1.75 | DAL ahead |
| 2026-10-15 | 139.93 | 136.63 | +1.54 | DAL ahead |
| 2026-10-14 | 137.37 | 133.46 | +1.61 | DAL ahead |
| 2026-10-13 | 142.60 | 139.22 | +1.56 | DAL ahead |
| 2026-10-12 | 143.57 | 140.85 | +1.51 | DAL ahead |
| 2026-10-09 | 147.26 | 144.92 | +1.48 | DAL ahead |
| 2026-10-08 | 147.20 | 144.90 | +1.49 | DAL ahead |
| 2026-10-07 | 148.69 | 148.58 | +1.31 | DAL ahead |
| 2026-10-06 | 149.93 | 150.87 | +1.23 | DAL ahead |
| 2026-10-05 | 148.89 | 148.35 | +1.36 | DAL ahead |
| 2026-10-02 | 150.70 | 151.73 | +1.24 | DAL ahead |
| 2026-10-01 | 150.77 | 150.75 | +1.34 | DAL ahead |
| 2026-09-30 | 149.57 | 149.63 | +1.34 | DAL ahead |
| 2026-09-29 | 152.10 | 151.92 | +1.37 | DAL ahead |
| 2026-09-28 | 150.59 | 150.38 | +1.38 | DAL ahead |
| 2026-09-25 | 152.22 | 153.73 | +1.24 | DAL ahead |
| 2026-09-24 | 148.32 | 149.95 | +1.24 | DAL ahead |
| 2026-09-23 | 146.51 | 149.32 | +1.14 | DAL ahead |
| 2026-09-22 | 150.39 | 155.37 | +0.99 | DAL ahead |
| 2026-09-21 | 147.85 | 154.27 | +0.87 | DAL ahead |
| 2026-09-18 | 142.69 | 146.61 | +1.06 | DAL ahead |
| 2026-09-17 | 142.35 | 145.17 | +1.15 | DAL ahead |
| 2026-09-16 | 139.55 | 143.36 | +1.07 | DAL ahead |
| 2026-09-15 | 141.38 | 144.19 | +1.16 | DAL ahead |
| 2026-09-14 | 143.01 | 146.95 | +1.08 | DAL ahead |
| 2026-09-11 | 143.21 | 148.11 | +1.02 | DAL ahead |
| 2026-09-10 | 140.22 | 143.61 | +1.13 | DAL ahead |
| 2026-09-09 | 141.13 | 144.46 | +1.15 | DAL ahead |
| 2026-09-08 | 141.51 | 145.97 | +1.07 | DAL ahead |
| 2026-09-04 | 143.67 | 150.21 | +0.92 | DAL ahead |
| 2026-09-03 | 141.13 | 146.54 | +1.01 | DAL ahead |
| 2026-09-02 | 140.04 | 146.12 | +0.96 | DAL ahead |
| 2026-09-01 | 136.88 | 141.11 | +1.10 | DAL ahead |
| 2026-08-31 | 139.78 | 145.64 | +0.99 | DAL ahead |
| 2026-08-28 | 143.49 | 149.16 | +1.03 | DAL ahead |
| 2026-08-27 | 145.41 | 151.57 | +1.00 | DAL ahead |
| 2026-08-26 | 148.89 | 154.86 | +1.03 | DAL ahead |
| 2026-08-25 | 149.86 | 158.34 | +0.87 | DAL ahead |
| 2026-08-24 | 147.81 | 153.16 | +1.09 | DAL ahead |
| 2026-08-21 | 147.69 | 152.62 | +1.13 | DAL ahead |
| 2026-08-20 | 145.27 | 150.65 | +1.10 | DAL ahead |
| 2026-08-19 | 149.27 | 156.14 | +1.01 | DAL ahead |
| 2026-08-18 | 153.58 | 160.11 | +1.06 | DAL ahead |
| 2026-08-17 | 156.97 | 164.88 | +0.98 | DAL ahead |
| 2026-08-14 | 160.13 | 169.04 | +0.93 | DAL ahead |
| 2026-08-13 | 163.64 | 170.40 | +1.09 | DAL ahead |
| 2026-08-12 | 161.16 | 168.74 | +1.04 | DAL ahead |
| 2026-08-11 | 162.03 | 170.34 | +1.00 | DAL ahead |
| 2026-08-10 | 159.87 | 166.90 | +1.09 | DAL ahead |
| 2026-08-07 | 163.69 | 174.73 | +0.85 | DAL ahead |
| 2026-08-06 | 164.84 | 174.13 | +0.97 | DAL ahead |
| 2026-08-05 | 166.92 | 179.04 | +0.81 | DAL ahead |
| 2026-08-04 | 166.25 | 178.85 | +0.78 | DAL ahead |
| 2026-08-03 | 164.14 | 173.15 | +1.01 | DAL ahead |
| 2026-07-31 | 156.70 | 163.63 | +1.13 | DAL ahead |
| 2026-07-30 | 158.76 | 166.64 | +1.08 | DAL ahead |
| 2026-07-29 | 154.57 | 161.05 | +1.18 | DAL ahead |
| 2026-07-28 | 160.16 | 166.92 | +1.18 | DAL ahead |
| 2026-07-27 | 155.32 | 162.60 | +1.14 | DAL ahead |
| 2026-07-24 | 152.44 | 159.50 | +1.16 | DAL ahead |
| 2026-07-23 | 146.90 | 155.56 | +1.03 | DAL ahead |
| 2026-07-22 | 149.68 | 158.14 | +1.06 | DAL ahead |
| 2026-07-21 | 151.67 | 158.73 | +1.18 | DAL ahead |
| 2026-07-20 | 151.51 | 158.49 | +1.19 | DAL ahead |
| 2026-07-17 | 150.84 | 155.64 | +1.36 | DAL ahead |
| 2026-07-16 | 155.38 | 160.23 | +1.38 | DAL ahead |
| 2026-07-15 | 154.05 | 163.14 | +1.08 | DAL ahead |
| 2026-07-14 | 153.24 | 162.31 | +1.09 | DAL ahead |
| 2026-07-13 | 154.46 | 163.40 | +1.11 | DAL ahead |
| 2026-07-10 | 156.61 | 169.93 | +0.82 | DAL ahead |
| 2026-07-09 | 159.50 | 174.04 | +0.76 | DAL ahead |
| 2026-07-08 | 156.43 | 170.22 | +0.80 | DAL ahead |
| 2026-07-07 | 158.84 | 173.04 | +0.79 | DAL ahead |
| 2026-07-06 | 164.30 | 178.69 | +0.82 | DAL ahead |
| 2026-07-02 | 166.22 | 179.80 | +0.89 | DAL ahead |
| 2026-07-01 | 166.77 | 182.24 | +0.78 | DAL ahead |
| 2026-06-30 | 167.85 | 183.40 | +0.78 | DAL ahead |
| 2026-06-29 | 166.97 | 182.32 | +0.79 | DAL ahead |
| 2026-06-26 | 165.90 | 183.56 | +0.64 | DAL ahead |
| 2026-06-25 | 165.07 | 181.53 | +0.72 | DAL ahead |
| 2026-06-24 | 162.46 | 176.05 | +0.90 | DAL ahead |
| 2026-06-23 | 155.41 | 163.92 | +1.22 | DAL ahead |
| 2026-06-22 | 153.98 | 160.05 | +1.40 | DAL ahead |
| 2026-06-18 | 150.86 | 159.57 | +1.21 | DAL ahead |
| 2026-06-17 | 147.40 | 156.21 | +1.19 | DAL ahead |
| 2026-06-16 | 149.00 | 159.82 | +1.06 | DAL ahead |
| 2026-06-15 | 150.66 | 161.79 | +1.05 | DAL ahead |
| 2026-06-12 | 148.85 | 155.79 | +1.37 | DAL ahead |
| 2026-06-11 | 146.65 | 151.87 | +1.51 | DAL ahead |
| 2026-06-10 | 137.04 | 138.61 | +1.81 | DAL ahead |
| 2026-06-09 | 145.47 | 147.85 | +1.77 | DAL ahead |
| 2026-06-08 | 140.16 | 142.04 | +1.82 | DAL ahead |
| 2026-06-05 | 142.33 | 142.59 | +1.99 | DAL ahead |
| 2026-06-04 | 142.49 | 141.52 | +2.12 | DAL ahead |
| 2026-06-03 | 141.18 | 141.79 | +2.01 | DAL ahead |
| 2026-06-02 | 143.41 | 146.76 | +1.79 | DAL ahead |
| 2026-06-01 | 146.00 | 150.72 | +1.70 | DAL ahead |
| 2026-05-29 | 147.81 | 154.82 | +1.53 | DAL ahead |
| 2026-05-28 | 147.83 | 155.17 | +1.52 | DAL ahead |
| 2026-05-27 | 146.59 | 151.88 | +1.70 | DAL ahead |
| 2026-05-26 | 142.28 | 142.85 | +2.13 | DAL ahead |
| 2026-05-22 | 136.45 | 134.81 | +2.37 | DAL ahead |
| 2026-05-21 | 135.57 | 134.38 | +2.36 | DAL ahead |
| 2026-05-20 | 132.83 | 132.19 | +2.34 | DAL ahead |
| 2026-05-19 | 121.43 | 120.19 | +2.44 | DAL ahead |
| 2026-05-18 | 125.88 | 124.81 | +2.45 | DAL ahead |
| 2026-05-15 | 125.86 | 125.22 | +2.45 | DAL ahead |
| 2026-05-14 | 128.23 | 129.49 | +2.27 | DAL ahead |
| 2026-05-13 | 127.33 | 129.06 | +2.25 | DAL ahead |
| 2026-05-12 | 126.72 | 129.25 | +2.19 | DAL ahead |
| 2026-05-11 | 127.60 | 130.30 | +2.21 | DAL ahead |
| 2026-05-08 | 131.42 | 134.30 | +2.23 | DAL ahead |
| 2026-05-07 | 131.02 | 134.46 | +2.20 | DAL ahead |
| 2026-05-06 | 131.43 | 134.92 | +2.22 | DAL ahead |
| 2026-05-05 | 126.99 | 126.33 | +2.73 | DAL ahead |
| 2026-05-04 | 122.76 | 121.47 | +2.87 | DAL ahead |
| 2026-05-01 | 123.62 | 124.77 | +2.62 | DAL ahead |
| 2026-04-30 | 121.85 | 121.38 | +2.87 | DAL ahead |
| 2026-04-29 | 118.76 | 119.51 | +2.77 | DAL ahead |
| 2026-04-28 | 120.47 | 121.93 | +2.73 | DAL ahead |
| 2026-04-27 | 122.22 | 123.94 | +2.75 | DAL ahead |
| 2026-04-24 | 122.67 | 125.42 | +2.67 | DAL ahead |
| 2026-04-23 | 122.53 | 123.06 | +3.02 | DAL ahead |
| 2026-04-22 | 122.60 | 123.68 | +3.02 | DAL ahead |
| 2026-04-21 | 125.84 | 130.99 | +2.53 | DAL ahead |
| 2026-04-20 | 127.62 | 133.39 | +2.50 | DAL ahead |
| 2026-04-17 | 128.53 | 137.29 | +2.15 | DAL ahead |
| 2026-04-16 | 125.25 | 128.16 | +2.96 | DAL ahead |
| 2026-04-15 | 129.01 | 127.13 | +3.75 | DAL ahead |
| 2026-04-14 | 128.49 | 131.09 | +3.19 | DAL ahead |
| 2026-04-13 | 120.16 | 128.39 | +2.36 | DAL ahead |
| 2026-04-10 | 121.54 | 130.01 | +2.37 | DAL ahead |
| 2026-04-09 | 121.56 | 131.72 | +2.15 | DAL ahead |
| 2026-04-08 | 122.01 | 129.87 | +2.53 | DAL ahead |
| 2026-04-07 | 117.60 | 120.42 | +3.36 | DAL ahead |
| 2026-04-06 | 119.68 | 122.68 | +3.43 | DAL ahead |
| 2026-04-02 | 119.64 | 124.36 | +3.23 | DAL ahead |
| 2026-04-01 | 121.15 | 128.23 | +2.91 | DAL ahead |
| 2026-03-31 | 119.14 | 124.17 | +3.32 | DAL ahead |
| 2026-03-30 | 113.24 | 114.92 | +4.03 | DAL ahead |
| 2026-03-27 | 116.18 | 119.27 | +3.90 | DAL ahead |
| 2026-03-26 | 119.82 | 125.00 | +3.63 | DAL ahead |
| 2026-03-25 | 121.85 | 125.35 | +4.11 | DAL ahead |
| 2026-03-24 | 119.44 | 126.18 | +3.57 | DAL ahead |
| 2026-03-23 | 116.72 | 126.72 | +2.94 | DAL ahead |
| 2026-03-20 | 113.69 | 121.31 | +3.46 | DAL ahead |
| 2026-03-19 | 116.51 | 126.97 | +2.97 | DAL ahead |
| 2026-03-18 | 114.35 | 124.76 | +3.00 | DAL ahead |
| 2026-03-17 | 116.18 | 125.68 | +3.30 | DAL ahead |
| 2026-03-16 | 109.03 | 121.75 | +2.47 | DAL ahead |
| 2026-03-13 | 105.34 | 116.79 | +2.72 | DAL ahead |
| 2026-03-12 | 103.84 | 116.70 | +2.37 | DAL ahead |
| 2026-03-11 | 105.99 | 122.29 | +1.64 | DAL ahead |
| 2026-03-10 | 106.22 | 122.86 | +1.57 | DAL ahead |
| 2026-03-09 | 108.57 | 127.47 | +1.15 | DAL ahead |
| 2026-03-06 | 105.75 | 124.17 | +1.16 | DAL ahead |
| 2026-03-05 | 109.87 | 128.70 | +1.23 | DAL ahead |
| 2026-03-04 | 114.39 | 135.51 | +0.91 | DAL ahead |
| 2026-03-03 | 115.77 | 138.29 | +0.67 | DAL ahead |
| 2026-03-02 | 115.14 | 139.19 | +0.32 | near the usual relationship |
| 2026-02-27 | 117.74 | 143.36 | +0.12 | near the usual relationship |
| 2026-02-26 | 126.36 | 157.02 | -0.46 | near the usual relationship |
| 2026-02-25 | 124.34 | 152.22 | -0.04 | near the usual relationship |
| 2026-02-24 | 124.07 | 151.84 | -0.04 | near the usual relationship |
| 2026-02-23 | 119.86 | 144.53 | +0.38 | near the usual relationship |
| 2026-02-20 | 124.44 | 152.43 | -0.06 | near the usual relationship |
| 2026-02-19 | 120.86 | 148.42 | -0.13 | near the usual relationship |
| 2026-02-18 | 127.44 | 157.69 | -0.35 | near the usual relationship |
| 2026-02-17 | 126.97 | 153.77 | +0.25 | near the usual relationship |
| 2026-02-13 | 123.66 | 147.39 | +0.70 | DAL ahead |
| 2026-02-12 | 124.55 | 147.40 | +0.90 | DAL ahead |
| 2026-02-11 | 127.99 | 153.66 | +0.50 | DAL ahead |
| 2026-02-10 | 133.44 | 156.93 | +1.08 | DAL ahead |
| 2026-02-09 | 134.41 | 156.71 | +1.33 | DAL ahead |
| 2026-02-06 | 135.04 | 156.32 | +1.54 | DAL ahead |
| 2026-02-05 | 125.05 | 143.07 | +1.88 | DAL ahead |
| 2026-02-04 | 126.99 | 147.65 | +1.43 | DAL ahead |
| 2026-02-03 | 126.24 | 149.51 | +0.91 | DAL ahead |
| 2026-02-02 | 123.80 | 144.77 | +1.27 | DAL ahead |
| 2026-01-30 | 118.08 | 137.99 | +1.30 | DAL ahead |
| 2026-01-29 | 119.25 | 140.18 | +1.13 | DAL ahead |
| 2026-01-28 | 117.97 | 141.48 | +0.56 | DAL ahead |
| 2026-01-27 | 118.53 | 140.31 | +0.93 | DAL ahead |
| 2026-01-26 | 120.97 | 145.33 | +0.50 | DAL ahead |
| 2026-01-23 | 121.79 | 145.30 | +0.70 | DAL ahead |
| 2026-01-22 | 123.57 | 148.89 | +0.42 | near the usual relationship |
| 2026-01-21 | 123.57 | 149.64 | +0.27 | near the usual relationship |
| 2026-01-20 | 120.90 | 146.42 | +0.27 | near the usual relationship |
| 2026-01-16 | 126.22 | 153.05 | +0.24 | near the usual relationship |
| 2026-01-15 | 127.85 | 156.47 | -0.03 | near the usual relationship |
| 2026-01-14 | 122.74 | 149.36 | +0.14 | near the usual relationship |
| 2026-01-13 | 124.25 | 154.30 | -0.45 | near the usual relationship |
| 2026-01-12 | 127.29 | 155.48 | +0.03 | near the usual relationship |
| 2026-01-09 | 129.59 | 158.22 | +0.04 | near the usual relationship |
| 2026-01-08 | 127.76 | 155.72 | +0.09 | near the usual relationship |
| 2026-01-07 | 128.41 | 157.25 | -0.04 | near the usual relationship |
| 2026-01-06 | 129.43 | 158.50 | -0.04 | near the usual relationship |
| 2026-01-05 | 128.71 | 154.94 | +0.44 | near the usual relationship |
| 2026-01-02 | 123.76 | 152.41 | -0.20 | near the usual relationship |
| 2025-12-31 | 124.37 | 150.80 | +0.24 | near the usual relationship |
| 2025-12-30 | 124.27 | 150.40 | +0.29 | near the usual relationship |
| 2025-12-29 | 124.61 | 150.30 | +0.39 | near the usual relationship |
| 2025-12-26 | 126.97 | 153.80 | +0.27 | near the usual relationship |
| 2025-12-24 | 127.17 | 154.83 | +0.12 | near the usual relationship |
| 2025-12-23 | 126.34 | 153.11 | +0.25 | near the usual relationship |
| 2025-12-22 | 129.14 | 156.47 | +0.25 | near the usual relationship |
| 2025-12-19 | 127.35 | 153.73 | +0.35 | near the usual relationship |
| 2025-12-18 | 125.72 | 152.19 | +0.27 | near the usual relationship |
| 2025-12-17 | 124.95 | 148.71 | +0.74 | DAL ahead |
| 2025-12-16 | 127.49 | 151.69 | +0.75 | DAL ahead |
| 2025-12-15 | 127.72 | 145.25 | +2.03 | DAL ahead |
| 2025-12-12 | 125.11 | 144.09 | +1.68 | DAL ahead |
| 2025-12-11 | 126.45 | 146.18 | +1.57 | DAL ahead |
| 2025-12-10 | 125.32 | 145.30 | +1.49 | DAL ahead |
| 2025-12-09 | 120.81 | 142.55 | +0.99 | DAL ahead |
| 2025-12-08 | 120.47 | 140.93 | +1.23 | DAL ahead |
| 2025-12-05 | 120.25 | 141.54 | +1.06 | DAL ahead |
| 2025-12-04 | 120.50 | 141.24 | +1.17 | DAL ahead |
| 2025-12-03 | 120.95 | 146.30 | +0.28 | near the usual relationship |
| 2025-12-02 | 116.74 | 140.77 | +0.36 | near the usual relationship |
| 2025-12-01 | 114.96 | 136.37 | +0.80 | DAL ahead |
| 2025-11-28 | 114.87 | 137.51 | +0.54 | DAL ahead |
| 2025-11-26 | 115.18 | 137.01 | +0.70 | DAL ahead |
| 2025-11-25 | 111.38 | 133.39 | +0.51 | DAL ahead |
| 2025-11-24 | 108.73 | 128.95 | +0.75 | DAL ahead |
| 2025-11-21 | 104.96 | 124.34 | +0.76 | DAL ahead |
| 2025-11-20 | 100.30 | 121.44 | +0.18 | near the usual relationship |
| 2025-11-19 | 101.92 | 123.17 | +0.21 | near the usual relationship |
| 2025-11-18 | 102.38 | 123.96 | +0.15 | near the usual relationship |
| 2025-11-17 | 99.93 | 121.31 | +0.07 | near the usual relationship |
| 2025-11-14 | 104.68 | 128.16 | -0.15 | near the usual relationship |
| 2025-11-13 | 107.37 | 131.05 | -0.09 | near the usual relationship |
| 2025-11-12 | 108.39 | 134.82 | -0.52 | UAL ahead |
| 2025-11-11 | 103.48 | 128.05 | -0.41 | near the usual relationship |
| 2025-11-10 | 104.95 | 129.66 | -0.38 | near the usual relationship |
| 2025-11-07 | 105.52 | 131.40 | -0.56 | UAL ahead |
| 2025-11-06 | 103.60 | 129.09 | -0.57 | UAL ahead |
| 2025-11-05 | 104.91 | 130.34 | -0.52 | UAL ahead |
| 2025-11-04 | 99.73 | 122.41 | -0.28 | near the usual relationship |
| 2025-11-03 | 104.84 | 129.62 | -0.43 | near the usual relationship |
| 2025-10-31 | 102.83 | 126.82 | -0.39 | near the usual relationship |
| 2025-10-30 | 102.37 | 125.93 | -0.35 | near the usual relationship |
| 2025-10-29 | 105.30 | 129.37 | -0.33 | near the usual relationship |
| 2025-10-28 | 103.69 | 128.04 | -0.43 | near the usual relationship |
| 2025-10-27 | 108.33 | 133.24 | -0.37 | near the usual relationship |
| 2025-10-24 | 109.23 | 133.93 | -0.32 | near the usual relationship |
| 2025-10-23 | 105.32 | 129.04 | -0.31 | near the usual relationship |
| 2025-10-22 | 107.53 | 129.83 | -0.07 | near the usual relationship |
| 2025-10-21 | 111.68 | 135.01 | -0.10 | near the usual relationship |
| 2025-10-20 | 110.66 | 136.60 | -0.45 | near the usual relationship |
| 2025-10-17 | 106.88 | 133.70 | -0.66 | UAL ahead |
| 2025-10-16 | 108.24 | 132.42 | -0.32 | near the usual relationship |
| 2025-10-15 | 110.57 | 140.32 | -0.86 | UAL ahead |
| 2025-10-14 | 109.80 | 139.11 | -0.83 | UAL ahead |
| 2025-10-13 | 105.23 | 133.85 | -0.88 | UAL ahead |
| 2025-10-10 | 103.01 | 130.37 | -0.81 | UAL ahead |
| 2025-10-09 | 106.76 | 136.67 | -0.95 | UAL ahead |
| 2025-10-08 | 102.37 | 132.29 | -1.07 | UAL ahead |
| 2025-10-07 | 101.49 | 130.34 | -0.98 | UAL ahead |
| 2025-10-06 | 104.41 | 130.91 | -0.69 | UAL ahead |
| 2025-10-03 | 102.62 | 128.56 | -0.68 | UAL ahead |
| 2025-10-02 | 102.29 | 127.89 | -0.65 | UAL ahead |
| 2025-10-01 | 100.56 | 125.62 | -0.64 | UAL ahead |
| 2025-09-30 | 101.70 | 130.14 | -0.90 | UAL ahead |
| 2025-09-29 | 103.33 | 133.03 | -0.96 | UAL ahead |
| 2025-09-26 | 102.51 | 132.04 | -0.97 | UAL ahead |
| 2025-09-25 | 101.68 | 133.72 | -1.17 | UAL ahead |
| 2025-09-24 | 103.42 | 136.74 | -1.22 | UAL ahead |
| 2025-09-23 | 105.29 | 140.43 | -1.30 | UAL ahead |
| 2025-09-22 | 105.54 | 140.50 | -1.28 | UAL ahead |
| 2025-09-19 | 107.10 | 143.37 | -1.33 | UAL ahead |
| 2025-09-18 | 106.58 | 142.12 | -1.30 | UAL ahead |
| 2025-09-17 | 105.41 | 142.29 | -1.41 | UAL ahead |
| 2025-09-16 | 103.69 | 140.53 | -1.44 | UAL ahead |
| 2025-09-15 | 104.70 | 141.00 | -1.38 | UAL ahead |
| 2025-09-12 | 107.29 | 143.74 | -1.34 | UAL ahead |
| 2025-09-11 | 108.32 | 147.48 | -1.48 | UAL ahead |
| 2025-09-10 | 110.02 | 144.99 | -1.20 | UAL ahead |
| 2025-09-09 | 108.75 | 142.48 | -1.15 | UAL ahead |
| 2025-09-08 | 110.68 | 145.34 | -1.16 | UAL ahead |
| 2025-09-05 | 109.64 | 143.75 | -1.15 | UAL ahead |
| 2025-09-04 | 108.51 | 143.02 | -1.19 | UAL ahead |
| 2025-09-03 | 109.80 | 143.17 | -1.10 | UAL ahead |
| 2025-09-02 | 109.55 | 141.17 | -1.01 | UAL ahead |
| 2025-08-29 | 110.72 | 141.60 | -0.95 | UAL ahead |
| 2025-08-28 | 111.06 | 141.71 | -0.93 | UAL ahead |
| 2025-08-27 | 109.78 | 140.54 | -0.96 | UAL ahead |
| 2025-08-26 | 109.59 | 140.43 | -0.97 | UAL ahead |
| 2025-08-25 | 108.26 | 138.02 | -0.93 | UAL ahead |
| 2025-08-22 | 110.56 | 138.88 | -0.83 | UAL ahead |
| 2025-08-21 | 103.66 | 131.07 | -0.88 | UAL ahead |
| 2025-08-20 | 105.82 | 134.65 | -0.93 | UAL ahead |
| 2025-08-19 | 108.42 | 137.82 | -0.93 | UAL ahead |
| 2025-08-18 | 109.48 | 138.06 | -0.87 | UAL ahead |
| 2025-08-15 | 107.96 | 136.12 | -0.88 | UAL ahead |
| 2025-08-14 | 105.66 | 133.70 | -0.91 | UAL ahead |
| 2025-08-13 | 106.49 | 134.58 | -0.90 | UAL ahead |
| 2025-08-12 | 104.73 | 132.80 | -0.93 | UAL ahead |
| 2025-08-11 | 95.88 | 120.47 | -0.87 | UAL ahead |
| 2025-08-08 | 96.13 | 120.42 | -0.86 | UAL ahead |
| 2025-08-07 | 96.11 | 118.65 | -0.77 | UAL ahead |
| 2025-08-06 | 96.99 | 119.85 | -0.78 | UAL ahead |
| 2025-08-05 | 94.75 | 118.22 | -0.85 | UAL ahead |
| 2025-08-04 | 94.12 | 117.34 | -0.85 | UAL ahead |
| 2025-08-01 | 91.67 | 114.05 | -0.84 | UAL ahead |
| 2025-07-31 | 95.36 | 119.10 | -0.87 | UAL ahead |
| 2025-07-30 | 96.06 | 121.70 | -0.97 | UAL ahead |
| 2025-07-29 | 97.67 | 122.25 | -0.90 | UAL ahead |
| 2025-07-28 | 99.66 | 124.65 | -0.90 | UAL ahead |
| 2025-07-25 | 98.32 | 122.87 | -0.90 | UAL ahead |
| 2025-07-24 | 98.05 | 121.01 | -0.83 | UAL ahead |
| 2025-07-23 | 100.32 | 121.96 | -0.74 | UAL ahead |
| 2025-07-22 | 99.77 | 122.43 | -0.81 | UAL ahead |
| 2025-07-21 | 100.43 | 124.54 | -0.88 | UAL ahead |
| 2025-07-18 | 100.88 | 124.41 | -0.85 | UAL ahead |
| 2025-07-17 | 100.97 | 123.02 | -0.78 | UAL ahead |
| 2025-07-16 | 99.57 | 119.31 | -0.69 | UAL ahead |
| 2025-07-15 | 99.84 | 116.49 | -0.54 | UAL ahead |
| 2025-07-14 | 104.14 | 119.95 | -0.47 | near the usual relationship |
| 2025-07-11 | 101.52 | 118.26 | -0.54 | UAL ahead |
| 2025-07-10 | 101.76 | 123.63 | -0.79 | UAL ahead |
| 2025-07-09 | 90.86 | 108.13 | -0.68 | UAL ahead |
| 2025-07-08 | 90.54 | 109.52 | -0.78 | UAL ahead |
| 2025-07-07 | 89.61 | 109.39 | -0.83 | UAL ahead |
| 2025-07-03 | 91.15 | 111.07 | -0.83 | UAL ahead |
| 2025-07-02 | 89.84 | 109.25 | -0.83 | UAL ahead |
| 2025-07-01 | 87.81 | 107.96 | -0.89 | UAL ahead |
| 2025-06-30 | 88.14 | 107.39 | -0.85 | UAL ahead |
| 2025-06-27 | 88.87 | 106.78 | -0.78 | UAL ahead |
| 2025-06-26 | 87.76 | 104.59 | -0.74 | UAL ahead |
| 2025-06-25 | 86.58 | 103.48 | -0.76 | UAL ahead |
| 2025-06-24 | 88.82 | 106.57 | -0.79 | UAL ahead |
| 2025-06-23 | 86.47 | 103.80 | -0.80 | UAL ahead |
| 2025-06-20 | 84.59 | 100.16 | -0.73 | UAL ahead |
| 2025-06-18 | 85.23 | 100.20 | -0.70 | UAL ahead |
| 2025-06-17 | 84.80 | 99.35 | -0.68 | UAL ahead |
| 2025-06-16 | 88.64 | 105.89 | -0.80 | UAL ahead |
| 2025-06-13 | 84.30 | 99.80 | -0.75 | UAL ahead |
| 2025-06-12 | 87.60 | 104.42 | -0.80 | UAL ahead |
| 2025-06-11 | 88.12 | 106.04 | -0.85 | UAL ahead |
| 2025-06-10 | 92.62 | 112.20 | -0.90 | UAL ahead |
| 2025-06-09 | 91.76 | 112.57 | -0.97 | UAL ahead |
| 2025-06-06 | 91.31 | 113.59 | -1.05 | UAL ahead |
| 2025-06-05 | 87.53 | 108.36 | -1.03 | UAL ahead |
| 2025-06-04 | 87.78 | 110.07 | -1.11 | UAL ahead |
| 2025-06-03 | 87.51 | 109.35 | -1.10 | UAL ahead |
| 2025-06-02 | 86.92 | 109.55 | -1.15 | UAL ahead |
| 2025-05-30 | 86.72 | 107.14 | -1.06 | UAL ahead |
| 2025-05-29 | 86.92 | 105.96 | -0.99 | UAL ahead |
| 2025-05-28 | 87.10 | 104.52 | -0.92 | UAL ahead |
| 2025-05-27 | 88.53 | 105.43 | -0.89 | UAL ahead |
| 2025-05-23 | 85.88 | 100.67 | -0.81 | UAL ahead |
| 2025-05-22 | 86.92 | 102.49 | -0.85 | UAL ahead |
| 2025-05-21 | 86.51 | 98.89 | -0.70 | UAL ahead |
| 2025-05-20 | 89.57 | 102.94 | -0.73 | UAL ahead |
| 2025-05-19 | 91.74 | 106.03 | -0.76 | UAL ahead |
| 2025-05-16 | 91.25 | 105.10 | -0.75 | UAL ahead |
| 2025-05-15 | 90.11 | 103.22 | -0.73 | UAL ahead |
| 2025-05-14 | 90.65 | 106.53 | -0.87 | UAL ahead |
| 2025-05-13 | 94.96 | 111.40 | -0.87 | UAL ahead |
| 2025-05-12 | 91.65 | 106.03 | -0.80 | UAL ahead |
| 2025-05-09 | 86.63 | 104.21 | -1.01 | UAL ahead |
| 2025-05-08 | 86.99 | 107.09 | -1.13 | UAL ahead |
| 2025-05-07 | 81.18 | 101.62 | -1.23 | UAL ahead |
| 2025-05-06 | 80.30 | 99.15 | -1.17 | UAL ahead |
| 2025-05-05 | 81.56 | 100.96 | -1.19 | UAL ahead |
| 2025-05-02 | 79.21 | 99.89 | -1.29 | UAL ahead |
| 2025-05-01 | 74.37 | 93.27 | -1.27 | UAL ahead |
| 2025-04-30 | 74.61 | 92.81 | -1.24 | UAL ahead |
| 2025-04-29 | 75.41 | 92.96 | -1.21 | UAL ahead |
| 2025-04-28 | 75.20 | 92.84 | -1.23 | UAL ahead |
| 2025-04-25 | 74.52 | 91.98 | -1.23 | UAL ahead |
| 2025-04-24 | 75.30 | 93.12 | -1.25 | UAL ahead |
| 2025-04-23 | 74.19 | 91.75 | -1.27 | UAL ahead |
| 2025-04-22 | 72.29 | 90.32 | -1.33 | UAL ahead |
| 2025-04-21 | 70.73 | 88.06 | -1.32 | UAL ahead |
| 2025-04-17 | 73.21 | 89.41 | -1.23 | UAL ahead |
| 2025-04-16 | 72.74 | 90.34 | -1.32 | UAL ahead |
| 2025-04-15 | 73.17 | 90.36 | -1.30 | UAL ahead |
| 2025-04-14 | 72.22 | 88.59 | -1.28 | UAL ahead |
| 2025-04-11 | 73.26 | 88.47 | -1.21 | UAL ahead |
| 2025-04-10 | 70.54 | 84.63 | -1.18 | UAL ahead |
| 2025-04-09 | 79.34 | 95.52 | -1.21 | UAL ahead |
| 2025-04-08 | 64.30 | 75.72 | -1.11 | UAL ahead |
| 2025-04-07 | 66.83 | 79.26 | -1.15 | UAL ahead |
| 2025-04-04 | 66.76 | 77.77 | -1.07 | UAL ahead |
| 2025-04-03 | 69.37 | 81.23 | -1.11 | UAL ahead |
| 2025-04-02 | 77.72 | 96.25 | -1.40 | UAL ahead |
| 2025-04-01 | 76.02 | 91.98 | -1.29 | UAL ahead |
| 2025-03-31 | 78.14 | 93.12 | -1.23 | UAL ahead |
| 2025-03-28 | 78.57 | 94.71 | -1.29 | UAL ahead |
| 2025-03-27 | 82.71 | 99.16 | -1.28 | UAL ahead |
| 2025-03-26 | 86.15 | 105.02 | -1.37 | UAL ahead |
| 2025-03-25 | 87.22 | 106.41 | -1.39 | UAL ahead |
| 2025-03-24 | 87.60 | 108.19 | -1.46 | UAL ahead |
| 2025-03-21 | 83.82 | 100.97 | -1.35 | UAL ahead |
| 2025-03-20 | 84.14 | 99.85 | -1.28 | UAL ahead |
| 2025-03-19 | 85.57 | 100.38 | -1.23 | UAL ahead |
| 2025-03-18 | 82.29 | 96.21 | -1.23 | UAL ahead |
| 2025-03-17 | 84.03 | 99.69 | -1.31 | UAL ahead |
| 2025-03-14 | 83.78 | 99.35 | -1.32 | UAL ahead |
| 2025-03-13 | 78.71 | 94.27 | -1.38 | UAL ahead |
| 2025-03-12 | 81.18 | 97.72 | -1.42 | UAL ahead |
| 2025-03-11 | 83.66 | 102.58 | -1.53 | UAL ahead |
| 2025-03-10 | 90.20 | 104.68 | -1.26 | UAL ahead |
| 2025-03-07 | 95.48 | 111.77 | -1.31 | UAL ahead |
| 2025-03-06 | 98.49 | 116.35 | -1.37 | UAL ahead |
| 2025-03-05 | 101.74 | 123.09 | -1.51 | UAL ahead |
| 2025-03-04 | 98.01 | 116.26 | -1.42 | UAL ahead |
| 2025-03-03 | 104.75 | 123.63 | -1.41 | UAL ahead |
| 2025-02-28 | 107.74 | 126.51 | -1.39 | UAL ahead |
| 2025-02-27 | 107.08 | 124.30 | -1.34 | UAL ahead |
| 2025-02-26 | 110.57 | 131.36 | -1.48 | UAL ahead |
| 2025-02-25 | 110.73 | 130.25 | -1.44 | UAL ahead |
| 2025-02-24 | 110.20 | 131.85 | -1.54 | UAL ahead |
| 2025-02-21 | 107.53 | 129.32 | -1.59 | UAL ahead |
| 2025-02-20 | 114.25 | 138.22 | -1.63 | UAL ahead |
| 2025-02-19 | 116.56 | 143.64 | -1.75 | UAL ahead |
| 2025-02-18 | 115.30 | 139.24 | -1.66 | UAL ahead |
| 2025-02-14 | 117.19 | 140.61 | -1.64 | UAL ahead |
| 2025-02-13 | 114.80 | 136.06 | -1.59 | UAL ahead |
| 2025-02-12 | 118.87 | 140.50 | -1.59 | UAL ahead |
| 2025-02-11 | 116.04 | 139.33 | -1.69 | UAL ahead |
| 2025-02-10 | 118.62 | 143.06 | -1.74 | UAL ahead |
| 2025-02-07 | 122.11 | 147.00 | -1.74 | UAL ahead |
| 2025-02-06 | 121.72 | 147.20 | -1.79 | UAL ahead |
| 2025-02-05 | 123.76 | 145.41 | -1.64 | UAL ahead |
| 2025-02-04 | 123.76 | 146.55 | -1.71 | UAL ahead |
| 2025-02-03 | 119.14 | 141.38 | -1.74 | UAL ahead |
| 2025-01-31 | 120.56 | 142.74 | -1.74 | UAL ahead |
| 2025-01-30 | 122.89 | 147.54 | -1.84 | UAL ahead |
| 2025-01-29 | 122.63 | 146.00 | -1.81 | UAL ahead |
| 2025-01-28 | 121.24 | 143.41 | -1.80 | UAL ahead |
| 2025-01-27 | 121.45 | 143.95 | -1.83 | UAL ahead |
| 2025-01-24 | 120.39 | 141.60 | -1.80 | UAL ahead |
| 2025-01-23 | 120.88 | 138.91 | -1.68 | UAL ahead |
| 2025-01-22 | 121.47 | 145.61 | -1.95 | UAL ahead |
| 2025-01-21 | 122.47 | 149.05 | -2.07 | UAL ahead |
| 2025-01-17 | 117.96 | 144.81 | -2.15 | UAL ahead |
| 2025-01-16 | 118.60 | 143.10 | -2.07 | UAL ahead |
| 2025-01-15 | 117.38 | 141.55 | -2.10 | UAL ahead |
| 2025-01-14 | 118.80 | 145.21 | -2.21 | UAL ahead |
| 2025-01-13 | 116.67 | 141.21 | -2.18 | UAL ahead |
| 2025-01-10 | 119.98 | 144.45 | -2.18 | UAL ahead |
| 2025-01-08 | 110.07 | 139.88 | -2.56 | UAL ahead |
| 2025-01-07 | 109.64 | 136.49 | -2.47 | UAL ahead |
| 2025-01-06 | 107.60 | 132.93 | -2.46 | UAL ahead |
| 2025-01-03 | 105.73 | 129.02 | -2.42 | UAL ahead |
| 2025-01-02 | 105.86 | 128.70 | -2.43 | UAL ahead |
| 2024-12-31 | 108.42 | 130.95 | -2.42 | UAL ahead |
| 2024-12-30 | 108.82 | 132.45 | -2.52 | UAL ahead |
| 2024-12-27 | 109.78 | 134.39 | -2.60 | UAL ahead |
| 2024-12-26 | 111.83 | 136.04 | -2.60 | UAL ahead |
| 2024-12-24 | 112.11 | 136.43 | -2.65 | UAL ahead |
| 2024-12-23 | 110.25 | 134.16 | -2.70 | UAL ahead |
| 2024-12-20 | 109.19 | 131.36 | -2.67 | UAL ahead |
| 2024-12-19 | 108.21 | 128.87 | -2.64 | UAL ahead |
| 2024-12-18 | 105.52 | 123.36 | -2.55 | UAL ahead |
| 2024-12-17 | 108.98 | 128.11 | -2.63 | UAL ahead |
| 2024-12-16 | 109.41 | 128.77 | -2.69 | UAL ahead |
| 2024-12-13 | 110.25 | 128.27 | -2.65 | UAL ahead |
| 2024-12-12 | 110.45 | 129.43 | -2.76 | UAL ahead |
| 2024-12-11 | 113.76 | 133.46 | -2.82 | UAL ahead |
| 2024-12-10 | 112.49 | 130.18 | -2.77 | UAL ahead |
| 2024-12-09 | 111.58 | 129.49 | -2.84 | UAL ahead |
| 2024-12-06 | 115.65 | 135.24 | -2.97 | UAL ahead |
| 2024-12-05 | 117.87 | 138.15 | -3.06 | UAL ahead |
| 2024-12-04 | 115.16 | 133.85 | -3.05 | UAL ahead |
| 2024-12-03 | 112.13 | 129.18 | -3.04 | UAL ahead |
| 2024-12-02 | 113.64 | 131.41 | -3.15 | UAL ahead |
| 2024-11-29 | 114.37 | 130.59 | -3.10 | UAL ahead |
| 2024-11-27 | 114.01 | 129.94 | -3.16 | UAL ahead |
| 2024-11-26 | 114.95 | 130.16 | -3.17 | UAL ahead |
| 2024-11-25 | 115.57 | 130.59 | -3.23 | UAL ahead |
| 2024-11-22 | 113.51 | 128.44 | -3.33 | UAL ahead |
| 2024-11-21 | 113.51 | 127.31 | -3.32 | UAL ahead |
| 2024-11-20 | 114.05 | 127.62 | -3.38 | UAL ahead |
| 2024-11-19 | 116.04 | 127.12 | -3.24 | UAL ahead |
| 2024-11-18 | 113.33 | 121.89 | -3.11 | UAL ahead |
| 2024-11-15 | 114.82 | 122.95 | -3.13 | UAL ahead |
| 2024-11-14 | 116.22 | 122.94 | -3.07 | UAL ahead |
| 2024-11-13 | 115.52 | 121.08 | -3.02 | UAL ahead |
| 2024-11-12 | 114.78 | 120.20 | -3.08 | UAL ahead |
| 2024-11-11 | 113.91 | 120.61 | -3.28 | UAL ahead |
| 2024-11-08 | 109.41 | 118.02 | -3.60 | UAL ahead |
| 2024-11-07 | 108.30 | 115.21 | -3.53 | UAL ahead |
| 2024-11-06 | 111.68 | 118.11 | -3.55 | UAL ahead |
| 2024-11-05 | 104.46 | 107.93 | -3.33 | UAL ahead |
| 2024-11-04 | 101.95 | 104.18 | -3.26 | UAL ahead |
| 2024-11-01 | 104.64 | 108.51 | -3.55 | UAL ahead |
| 2024-10-31 | 102.54 | 105.54 | -3.54 | UAL ahead |
| 2024-10-30 | 104.77 | 108.46 | -3.73 | UAL ahead |
| 2024-10-29 | 102.76 | 103.75 | -3.46 | UAL ahead |
| 2024-10-28 | 99.25 | 102.62 | -3.93 | UAL ahead |
| 2024-10-25 | 96.99 | 100.66 | -4.13 | UAL ahead |
| 2024-10-24 | 98.15 | 100.49 | -4.05 | UAL ahead |
| 2024-10-23 | 97.94 | 99.06 | -3.99 | UAL ahead |
| 2024-10-22 | 98.21 | 100.46 | -4.34 | UAL ahead |
| 2024-10-21 | 98.75 | 99.80 | -4.29 | UAL ahead |
| 2024-10-18 | 100.00 | 100.00 | -4.26 | UAL ahead |
No one-day company-specific move of 4+ standard deviations in this window.
Paired trades
The shared paper book and the replay, kept apart
Forward paper record
No paper position on this pair yet.
Historical simulation (a diagnostic, same rules)
4 simulated trades to Oct 20, 2026: +3.92% per trade on average after costs, 3 won.
| Legs | Entered | Exited | Why | Days | Before costs | Costs + borrow | After costs |
|---|---|---|---|---|---|---|---|
| Long DAL · Short UAL | Oct 4, 2024 | Oct 17, 2024 | divergence stop | 13 | -$1,113.03 | -$49.74 | -$1,160.92 (-11.61%) |
| Long DAL · Short UAL | Feb 3, 2023 | Jun 30, 2023 | converged | 147 | $1,379.22 | -$66.78 | $1,312.44 (+13.12%) |
| Long DAL · Short UAL | Oct 24, 2022 | Jan 3, 2023 | converged | 71 | $703.39 | -$53.28 | $650.12 (+6.50%) |
| Long DAL · Short UAL | Jun 23, 2022 | Aug 10, 2022 | converged | 48 | $797.38 | -$31.82 | $765.55 (+7.66%) |
Per $10,000 a leg. A replay on today's companies cannot prove an edge.
The companies
DAL and UAL at a glance
DAL Delta Air Lines Inc.
- Listing
- NYSE · SEC CIK 27904
- Industry
- Air Freight/Delivery Services · SIC 4512 Air Transportation, Scheduled
- Market value
- $49.1B
- Price history
- 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026
UAL United Airlines Holdings Inc.
- Listing
- Nasdaq · SEC CIK 100517
- Industry
- Air Freight/Delivery Services · SIC 4512 Air Transportation, Scheduled
- Market value
- $31.0B
- Price history
- 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026
Daily prices: Nasdaq.com. Filings and industry codes: SEC EDGAR. Earnings dates: Nasdaq earnings calendar.
Related
All pairs →Other rivals of DAL and UAL
| Pair | Status | Ahead now | Industry |
|---|---|---|---|
| DAL / RYAAY | Watchlist | DAL by 1.17 sd | SIC 4512 Air Transportation, Scheduled |
| FDX / UAL | Watchlist | FDX by 0.84 sd | Air Freight/Delivery Services |
| UAL / RYAAY | Watchlist | UAL by 0.71 sd | SIC 4512 Air Transportation, Scheduled |
| FDX / DAL | Watchlist | neither | Air Freight/Delivery Services |
Follow the research behind the paper book
Boostio is a research-first platform in private beta: crypto candidates, daily market stories, public paper trading and now rival stocks. Exploring these pages stays free and open.
Explore the private betaPaper only: hypothetical paired positions with modelled costs. No broker, no orders, no real money. A historical simulation is a diagnostic, not proof of an edge. Not investment advice.
