DG vs ULTA: Correlation
Dollar General (DG) and Ulta Beauty (ULTA) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DG and ULTA?
Across a 3-year window, the weekly returns of DG and ULTA correlate at 0.36, moderate. The past 12 months show a tighter link (0.66) than the 3-year average (0.36). Stretching to 5 years gives 0.41, with an annualized covariance of 487.8 %².
Few assets follow DG as closely as ULTA, which ranks #2 of 32 tracked partners. Over the last 12 months DG came out ahead by 14.3 percentage points (+15.5% against +1.2%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.09 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.
DG vs ULTA: side by side
| DG (Dollar General) | ULTA (Ulta Beauty) | |
|---|---|---|
| 1-year return | +15.5% | +1.2% |
| 5-year return | -39.3% | +41.0% |
| Volatility (ann.) | 38.5% | 35.3% |
| Beta vs S&P 500 | 0.11 | 0.75 |
| Max drawdown (3Y) | -56.6% | -44.6% |
| Market cap | $27.8B | $23.2B |
| P/E (trailing) | 17.4 | 20.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Staples | Consumer Discretionary |
Year-by-year returns
| Year | DG | ULTA |
|---|---|---|
| 2022 | +5.6% | +13.8% |
| 2023 | -44.1% | +4.5% |
| 2024 | -43.1% | -11.2% |
| 2025 | +79.6% | +39.1% |
| 2026 | -3.8% | -10.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DG and ULTA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DG and ULTA?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.66 over the last year and 0.41 over 5 years.
Is ULTA a good diversifier for DG?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 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: DG correlations · ULTA correlations
