HUBG vs SHOO: Correlation
How closely do Hub Group, Inc. (HUBG) and Steven Madden, Ltd. (SHOO) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HUBG and SHOO?
On 3 years of weekly data the HUBG/SHOO correlation comes out at 0.53, moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. The 5-year figure is 0.52, and annualized covariance runs at 694.7 %².
Within HUBG's tracked universe of 21 assets, SHOO comes in at #7 by 3-year correlation. The last year tells two different stories: SHOO led by 45.4 percentage points, +10.1% for HUBG against +55.5% for SHOO.
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.
HUBG vs SHOO: side by side
| HUBG (Hub Group, Inc.) | SHOO (Steven Madden, Ltd.) | |
|---|---|---|
| 1-year return | +10.1% | +55.5% |
| 5-year return | +17.3% | +22.4% |
| Volatility (ann.) | 34.2% | 38.3% |
| Beta vs S&P 500 | 1.10 | 1.13 |
| Max drawdown (3Y) | -40.8% | -60.2% |
| Market cap | $2.4B | $3.3B |
| P/E (trailing) | 23.0 | 22.6 |
| Dividend yield | 1.25% | 1.86% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HUBG | SHOO |
|---|---|---|
| 2022 | -5.6% | -29.5% |
| 2023 | +15.7% | +34.6% |
| 2024 | -2.0% | +3.2% |
| 2025 | -3.1% | +0.6% |
| 2026 | -5.6% | +8.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HUBG and SHOO good diversifiers for each other?
Only partially. A correlation of 0.53 means HUBG and SHOO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between HUBG and SHOO?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.49 over the last year and 0.52 over 5 years.
Is SHOO a good diversifier for HUBG?
Only partially. A correlation of 0.53 means HUBG and SHOO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
A reading of 0.53 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hubg-vs-shoo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hubg-vs-shoo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HUBG correlations · SHOO correlations
