FIVE vs ULTA: Correlation
Five Below, Inc. (FIVE) and Ulta Beauty (ULTA) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIVE and ULTA?
On 3 years of weekly data the FIVE/ULTA correlation comes out at 0.47, moderate. Recent behaviour matches the longer record: 0.47 over 1 year against 0.47 over 3. The 5-year figure is 0.54, and annualized covariance runs at 836.8 %².
Among the 13 assets we track against FIVE, ULTA ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FIVE ahead by 69.8 points (+71.0% versus +1.2%).
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.
FIVE vs ULTA: side by side
| FIVE (Five Below, Inc.) | ULTA (Ulta Beauty) | |
|---|---|---|
| 1-year return | +71.0% | +1.2% |
| 5-year return | +15.1% | +41.0% |
| Volatility (ann.) | 50.8% | 35.3% |
| Beta vs S&P 500 | 1.42 | 0.75 |
| Max drawdown (3Y) | -74.1% | -44.6% |
| Market cap | $13.7B | $23.2B |
| P/E (trailing) | 31.2 | 20.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | FIVE | ULTA |
|---|---|---|
| 2022 | -14.5% | +13.8% |
| 2023 | +20.5% | +4.5% |
| 2024 | -50.8% | -11.2% |
| 2025 | +79.5% | +39.1% |
| 2026 | +31.1% | -10.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIVE and ULTA good diversifiers for each other?
Reasonably. At 0.47, FIVE and ULTA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FIVE and ULTA?
The FIVE/ULTA correlation stands at 0.47 on a 3-year window (1 year: 0.47, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is ULTA a good diversifier for FIVE?
Reasonably. At 0.47, FIVE and ULTA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 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: FIVE correlations · ULTA correlations
