COLM vs NKE: Correlation
How closely do Columbia Sportswear Company (COLM) and Nike, Inc. (NKE) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COLM and NKE?
On 3 years of weekly data the COLM/NKE correlation comes out at 0.48, moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. The 5-year figure is 0.54, and annualized covariance runs at 549.9 %².
By 3-year correlation, NKE places #8 of the 17 assets tracked against COLM. Correlation aside, the last 12 months split them widely, with COLM ahead by 54.6 points (+5.2% 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.
COLM vs NKE: side by side
| COLM (Columbia Sportswear Company) | NKE (Nike, Inc.) | |
|---|---|---|
| 1-year return | +5.2% | -49.4% |
| 5-year return | -40.1% | -75.2% |
| Volatility (ann.) | 31.1% | 36.6% |
| Beta vs S&P 500 | 0.58 | 0.93 |
| Max drawdown (3Y) | -46.1% | -66.9% |
| Market cap | $2.9B | $57.0B |
| P/E (trailing) | 15.2 | 18.4 |
| Dividend yield | 2.06% | 4.22% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | COLM | NKE |
|---|---|---|
| 2022 | -8.8% | -29.0% |
| 2023 | -7.8% | -6.0% |
| 2024 | +7.1% | -29.1% |
| 2025 | -33.1% | -13.8% |
| 2026 | +4.7% | -38.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COLM and NKE good diversifiers for each other?
Reasonably. At 0.48, COLM and NKE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between COLM and NKE?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.56 over the last year and 0.54 over 5 years.
Is NKE a good diversifier for COLM?
Reasonably. At 0.48, COLM and NKE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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.
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Related comparisons
Hubs: COLM correlations · NKE correlations
