EL vs NKE: Correlation
Estée Lauder Companies (The) (EL) and Nike, Inc. (NKE) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EL and NKE?
Across a 3-year window, the weekly returns of EL and NKE correlate at 0.40, moderate. The relationship has been stable: the 1-year correlation (0.34) sits close to the 3-year figure. Stretching to 5 years gives 0.48, with an annualized covariance of 694.6 %².
Among the 35 assets we track against EL, NKE ranks #17 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months EL outperformed by 65.8 percentage points (+16.4% for EL against -49.4% for NKE). The rolling one-year correlation moved between 0.31 and 0.60 over the past three years, a moderate range.
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.
EL vs NKE: side by side
| EL (Estée Lauder Companies (The)) | NKE (Nike, Inc.) | |
|---|---|---|
| 1-year return | +16.4% | -49.4% |
| 5-year return | -66.7% | -75.2% |
| Volatility (ann.) | 47.0% | 36.6% |
| Beta vs S&P 500 | 1.28 | 0.93 |
| Max drawdown (3Y) | -68.4% | -66.9% |
| Market cap | $38.4B | $57.0B |
| P/E (trailing) | 208.3 | 18.4 |
| Dividend yield | 1.33% | 4.22% |
| Sector / category | Consumer Staples | Consumer Discretionary |
Year-by-year returns
| Year | EL | NKE |
|---|---|---|
| 2022 | -32.3% | -29.0% |
| 2023 | -40.1% | -6.0% |
| 2024 | -47.6% | -29.1% |
| 2025 | +42.1% | -13.8% |
| 2026 | +2.1% | -38.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EL and NKE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EL and NKE?
As of 2026-08-27, the correlation of weekly returns between EL and NKE is 0.40 over 3 years, 0.34 over 1 year and 0.48 over 5 years.
Is NKE a good diversifier for EL?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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: EL correlations · NKE correlations
