BBY vs NKE: Correlation
Best Buy (BBY) and Nike, Inc. (NKE) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBY and NKE?
Across a 3-year window, the weekly returns of BBY and NKE correlate at 0.38, moderate. The relationship has been stable: the 1-year correlation (0.32) sits close to the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 524.6 %².
Among the 33 assets we track against BBY, NKE ranks #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BBY ahead by 66.3 points (+16.9% versus -49.4%). Across three years, the rolling one-year figure varied moderately, from 0.30 to 0.65.
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.
BBY vs NKE: side by side
| BBY (Best Buy) | NKE (Nike, Inc.) | |
|---|---|---|
| 1-year return | +16.9% | -49.4% |
| 5-year return | -11.2% | -75.2% |
| Volatility (ann.) | 37.6% | 36.6% |
| Beta vs S&P 500 | 0.97 | 0.93 |
| Max drawdown (3Y) | -44.3% | -66.9% |
| Market cap | – | $57.0B |
| P/E (trailing) | 16.2 | 18.4 |
| Dividend yield | 0.00% | 4.22% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | BBY | NKE |
|---|---|---|
| 2022 | -17.5% | -29.0% |
| 2023 | +2.5% | -6.0% |
| 2024 | +14.4% | -29.1% |
| 2025 | -17.8% | -13.8% |
| 2026 | +28.4% | -38.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBY and NKE good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BBY and NKE?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.32 over the last year and 0.45 over 5 years.
Is NKE a good diversifier for BBY?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bby-vs-nke.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bby-vs-nke/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BBY correlations · NKE correlations
