Tax-loss harvesting alternatives for LUV

Among the 7 Passenger Airlines peers screened, ALGT (Allegiant Travel) has tracked LUV most closely over the past year, with a return correlation of 0.73. The strongest fund stand-in is JETS (US Global Jets ETF) at 0.84 over the past year. Correlations are computed from daily closing-price returns aligned by trading day.

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STOCKS

Single-name peers

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
ALGT	Allegiant Travel	Passenger Airlines	0.73	0.63	0.66	0.66
DAL	Delta Air Lines	Passenger Airlines	0.73	0.64	0.70	0.75
ALK	Alaska Air Group	Passenger Airlines	0.72	0.61	0.68	0.73
UAL	United Airlines	Passenger Airlines	0.71	0.63	0.68	0.72
AAL	American Airlines	Passenger Airlines	0.70	0.66	0.69	0.70
SKYW	SkyWest Inc.	Passenger Airlines	0.66	0.54	0.55	0.57
JBLU	JetBlue Airways	Passenger Airlines	0.64	0.55	0.60	0.65

ETFS

Fund stand-ins

An ETF is generally not 'substantially identical' to a single stock, which is why funds are the standard wash-sale-aware replacement.

Ticker	Name	Focus	Match	1Y	3Y	5Y	10Y
JETS	US Global Jets ETF	Airlines	SUB-IND	0.84	0.78	0.81	0.83
XTN	SPDR S&P Transportation ETF	Transportation	INDUSTRY	0.65	0.62	0.66	0.69
IYT	iShares Transportation Average	Transportation	INDUSTRY	0.61	0.58	0.62	0.64
IYJ	iShares US Industrials ETF	Industrials Sector	SECTOR	0.57	0.54	0.56	0.58
VIS	Vanguard Industrials ETF	Industrials Sector	SECTOR	0.53	0.52	0.55	0.61
XLI	Industrial Select Sector SPDR	Industrials Sector	SECTOR	0.51	0.52	0.54	0.60
FIDU	Fidelity MSCI Industrials ETF	Industrials Sector	SECTOR	0.51	0.51	0.54	0.59
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.50	0.49	0.52	0.56
ITA	iShares Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.38	0.41	0.45	0.56
BOTZ	Global X Robotics & AI	Robotics & AI	SECTOR	0.38	0.41	0.45	0.46
PPA	Invesco Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.37	0.42	0.46	0.55
XAR	SPDR S&P Aerospace & Defense	Aerospace & Defense (Equal Wt)	INDUSTRY	0.36	0.42	0.47	0.56

NEXT STEPS

Harvesting a loss in LUV?

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Replacement research for LUV's peers

ALGT DAL ALK UAL AAL SKYW JBLU

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Method: Pearson correlation of daily closing-price returns, Yahoo Finance data, series aligned by trading day, refreshed weekly. A cell is blank when overlapping history covers less than 60% of its window. Correlation is descriptive, not predictive. Wash-sale treatment depends on facts and circumstances — confirm with a tax professional. Not investment advice.