BIRK vs NKE: Correlation
How closely do Birkenstock Holding plc (BIRK) and Nike, Inc. (NKE) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIRK and NKE?
Over the past 3 years, BIRK and NKE moved with a correlation of 0.44, which is moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 737.7 %².
Among the 15 assets we track against BIRK, NKE ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BIRK ahead by 17.1 points (-32.3% versus -49.4%).
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.
BIRK vs NKE: side by side
| BIRK (Birkenstock Holding plc) | NKE (Nike, Inc.) | |
|---|---|---|
| 1-year return | -32.3% | -49.4% |
| 5-year return | n/a | -75.2% |
| Volatility (ann.) | 45.5% | 36.6% |
| Beta vs S&P 500 | 1.18 | 0.93 |
| Max drawdown (3Y) | -50.9% | -66.9% |
| Market cap | $5.8B | $57.0B |
| P/E (trailing) | 17.0 | 18.4 |
| Dividend yield | 0.00% | 4.22% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | BIRK | NKE |
|---|---|---|
| 2022 | – | -29.0% |
| 2023 | – | -6.0% |
| 2024 | +16.3% | -29.1% |
| 2025 | -27.8% | -13.8% |
| 2026 | -13.7% | -38.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIRK and NKE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BIRK and NKE?
As of 2026-08-27, the correlation of weekly returns between BIRK and NKE is 0.44 over 3 years, 0.51 over 1 year and n/a over 5 years.
Is NKE a good diversifier for BIRK?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BIRK correlations · NKE correlations
