ELF vs KR: Correlation
e.l.f. Beauty, Inc. (ELF) and Kroger (KR) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELF and KR?
Over the past 3 years, ELF and KR moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.26 over 1 year against -0.26 over 3. Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -414.0 %².
Among the 14 assets we track against ELF, KR sits near the bottom by co-movement, at rank #11. Their 12-month results are close: -15.0% for ELF against -14.4% for KR. One caveat on sizing: ELF is 2.9 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.
ELF vs KR: side by side
| ELF (e.l.f. Beauty, Inc.) | KR (Kroger) | |
|---|---|---|
| 1-year return | -15.0% | -14.4% |
| 5-year return | +244.4% | +37.3% |
| Volatility (ann.) | 67.7% | 23.4% |
| Beta vs S&P 500 | 2.00 | -0.16 |
| Max drawdown (3Y) | -77.3% | -26.2% |
| Market cap | $6.3B | – |
| P/E (trailing) | 108.3 | 33.3 |
| Dividend yield | 0.00% | 1.79% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | ELF | KR |
|---|---|---|
| 2022 | +66.5% | +0.4% |
| 2023 | +161.0% | +5.0% |
| 2024 | -13.0% | +36.9% |
| 2025 | -39.4% | +4.3% |
| 2026 | +39.6% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELF and KR good diversifiers for each other?
Yes. With a correlation of -0.26, ELF and KR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ELF and KR?
The ELF/KR correlation stands at -0.26 on a 3-year window (1 year: -0.26, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is KR a good diversifier for ELF?
Yes. With a correlation of -0.26, ELF and KR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/elf-vs-kr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/elf-vs-kr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ELF correlations · KR correlations
