DBI vs SHOE: Correlation
Measured on weekly returns over the past three years, Designer Brands Inc. (DBI) and Shoe Station Group, Inc. (SHOE) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DBI and SHOE?
Across a 3-year window, the weekly returns of DBI and SHOE correlate at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. Stretching to 5 years gives 0.51, with an annualized covariance of 1726.3 %².
SHOE is one of the assets that tracks DBI most closely: it ranks #2 out of the 15 assets we track against DBI. Their recent paths diverged sharply: over the last 12 months DBI outperformed by 85.2 percentage points (+50.5% for DBI against -34.7% for SHOE). One caveat on sizing: DBI is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
DBI vs SHOE: side by side
| DBI (Designer Brands Inc.) | SHOE (Shoe Station Group, Inc.) | |
|---|---|---|
| 1-year return | +50.5% | -34.7% |
| 5-year return | -60.6% | -59.3% |
| Volatility (ann.) | 82.9% | 43.2% |
| Beta vs S&P 500 | 1.72 | 1.24 |
| Max drawdown (3Y) | -81.7% | -68.0% |
| Market cap | $0.3B | $0.4B |
| P/E (trailing) | 26.0 | 10.3 |
| Dividend yield | 3.50% | 4.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DBI | SHOE |
|---|---|---|
| 2022 | -30.1% | -38.0% |
| 2023 | -7.7% | +28.5% |
| 2024 | -38.0% | +11.2% |
| 2025 | +46.5% | -47.6% |
| 2026 | -25.1% | -15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DBI and SHOE good diversifiers for each other?
Reasonably. At 0.48, DBI and SHOE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DBI and SHOE?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.51 over the last year and 0.51 over 5 years.
Is SHOE a good diversifier for DBI?
Reasonably. At 0.48, DBI and SHOE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dbi-vs-shoe.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dbi-vs-shoe/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DBI correlations · SHOE correlations
