ASO vs SIG: Correlation
How closely do Academy Sports and Outdoors, Inc. (ASO) and Signet Jewelers Limited (SIG) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASO and SIG?
Across a 3-year window, the weekly returns of ASO and SIG correlate at 0.52, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.31 versus 0.52 over 3 years. Stretching to 5 years gives 0.58, with an annualized covariance of 985.0 %².
By 3-year correlation, SIG places #8 of the 16 assets tracked against ASO. The trailing year gives SIG the advantage: -23.5% versus -11.7%, a 11.8-point spread.
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 SIG: side by side
| ASO (Academy Sports and Outdoors, Inc.) | SIG (Signet Jewelers Limited) | |
|---|---|---|
| 1-year return | -23.5% | -11.7% |
| 5-year return | +2.0% | +8.4% |
| Volatility (ann.) | 39.7% | 47.9% |
| Beta vs S&P 500 | 1.26 | 1.19 |
| Max drawdown (3Y) | -54.2% | -57.1% |
| Market cap | $2.6B | – |
| P/E (trailing) | 7.7 | 11.6 |
| Dividend yield | 1.29% | 1.56% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASO | SIG |
|---|---|---|
| 2022 | +20.6% | -21.0% |
| 2023 | +26.4% | +59.6% |
| 2024 | -12.2% | -23.8% |
| 2025 | -12.2% | +4.1% |
| 2026 | -14.2% | -0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASO and SIG good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ASO and SIG?
The ASO/SIG correlation stands at 0.52 on a 3-year window (1 year: 0.31, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is SIG a good diversifier for ASO?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aso-vs-sig.json
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[](https://www.pairbook.io/pair/aso-vs-sig/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ASO correlations · SIG correlations
