ASO vs LULU: Correlation
Measured on weekly returns over the past three years, Academy Sports and Outdoors, Inc. (ASO) and Lululemon Athletica (LULU) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASO and LULU?
Over the past 3 years, ASO and LULU moved with a correlation of 0.41, which is moderate. Little has changed lately, as the 1-year reading of 0.37 lands near the 3-year figure. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 679.5 %².
Within ASO's tracked universe of 16 assets, LULU comes in at #11 by 3-year correlation. The last year tells two different stories: ASO led by 20.6 percentage points, -23.5% for ASO against -44.1% for LULU.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ASO vs LULU: side by side
| ASO (Academy Sports and Outdoors, Inc.) | LULU (Lululemon Athletica) | |
|---|---|---|
| 1-year return | -23.5% | -44.1% |
| 5-year return | +2.0% | -72.3% |
| Volatility (ann.) | 39.7% | 41.8% |
| Beta vs S&P 500 | 1.26 | 0.98 |
| Max drawdown (3Y) | -54.2% | -79.4% |
| Market cap | $2.6B | $13.1B |
| P/E (trailing) | 7.7 | 9.4 |
| Dividend yield | 1.29% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | ASO | LULU |
|---|---|---|
| 2022 | +20.6% | -18.2% |
| 2023 | +26.4% | +59.6% |
| 2024 | -12.2% | -25.2% |
| 2025 | -12.2% | -45.7% |
| 2026 | -14.2% | -44.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASO and LULU good diversifiers for each other?
Reasonably. At 0.41, ASO and LULU keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ASO and LULU?
As of 2026-08-27, the correlation of weekly returns between ASO and LULU is 0.41 over 3 years, 0.37 over 1 year and 0.44 over 5 years.
Is LULU a good diversifier for ASO?
Reasonably. At 0.41, ASO and LULU keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
A reading of 0.41 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aso-vs-lulu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aso-vs-lulu/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASO correlations · LULU correlations
