BLK vs NKE: Correlation
BlackRock (BLK) and Nike, Inc. (NKE) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLK and NKE?
Over the past 3 years, BLK and NKE moved with a correlation of 0.42, which is moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.42 over 3. Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 377.3 %².
Within BLK's tracked universe of 42 assets, NKE comes in at #32 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BLK outperformed by 54.7 percentage points (+5.3% for BLK against -49.4% for NKE). Across three years, the rolling one-year figure varied moderately, from 0.15 to 0.62.
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.
BLK vs NKE: side by side
| BLK (BlackRock) | NKE (Nike, Inc.) | |
|---|---|---|
| 1-year return | +5.3% | -49.4% |
| 5-year return | +38.9% | -75.2% |
| Volatility (ann.) | 24.7% | 36.6% |
| Beta vs S&P 500 | 1.19 | 0.93 |
| Max drawdown (3Y) | -23.7% | -66.9% |
| Market cap | $189.7B | $57.0B |
| P/E (trailing) | 28.1 | 18.4 |
| Dividend yield | 1.86% | 4.22% |
| Sector / category | Financials | Consumer Discretionary |
Year-by-year returns
| Year | BLK | NKE |
|---|---|---|
| 2022 | -20.4% | -29.0% |
| 2023 | +17.9% | -6.0% |
| 2024 | +29.3% | -29.1% |
| 2025 | +6.6% | -13.8% |
| 2026 | +10.3% | -38.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLK and NKE good diversifiers for each other?
Reasonably. At 0.42, BLK and NKE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BLK and NKE?
As of 2026-08-27, the correlation of weekly returns between BLK and NKE is 0.42 over 3 years, 0.36 over 1 year and 0.50 over 5 years.
Is NKE a good diversifier for BLK?
Reasonably. At 0.42, BLK and NKE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 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.
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Related comparisons
Hubs: BLK correlations · NKE correlations
