GRMN vs LULU: Correlation
How closely do Garmin (GRMN) and Lululemon Athletica (LULU) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRMN and LULU?
Across a 3-year window, the weekly returns of GRMN and LULU correlate at 0.35, moderate. The link has tightened recently: the 1-year correlation (0.45) runs above the 3-year figure (0.35). Stretching to 5 years gives 0.37, with an annualized covariance of 514.3 %².
Among the 36 assets we track against GRMN, LULU ranks #25 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GRMN ahead by 69.2 points (+25.1% versus -44.1%). The rolling one-year correlation moved between 0.14 and 0.59 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.
GRMN vs LULU: side by side
| GRMN (Garmin) | LULU (Lululemon Athletica) | |
|---|---|---|
| 1-year return | +25.1% | -44.1% |
| 5-year return | +80.9% | -72.3% |
| Volatility (ann.) | 34.7% | 41.8% |
| Beta vs S&P 500 | 1.06 | 0.98 |
| Max drawdown (3Y) | -28.0% | -79.4% |
| Market cap | $55.9B | $13.1B |
| P/E (trailing) | 29.9 | 9.4 |
| Dividend yield | 1.45% | 0.00% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | GRMN | LULU |
|---|---|---|
| 2022 | -30.2% | -18.2% |
| 2023 | +43.1% | +59.6% |
| 2024 | +63.3% | -25.2% |
| 2025 | -0.1% | -45.7% |
| 2026 | +44.1% | -44.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRMN and LULU good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GRMN and LULU?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.45 over the last year and 0.37 over 5 years.
Is LULU a good diversifier for GRMN?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/grmn-vs-lulu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grmn-vs-lulu/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GRMN correlations · LULU correlations
