LOW vs NKE: Correlation
Measured on weekly returns over the past three years, Lowe's (LOW) and Nike, Inc. (NKE) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOW and NKE?
Across a 3-year window, the weekly returns of LOW and NKE correlate at 0.38, moderate. The relationship has been stable: the 1-year correlation (0.38) sits close to the 3-year figure. Stretching to 5 years gives 0.43, with an annualized covariance of 348.0 %².
Within LOW's tracked universe of 46 assets, NKE comes in at #33 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months LOW outperformed by 31.0 percentage points (-18.4% for LOW against -49.4% for NKE). Across three years, the rolling one-year figure varied moderately, from 0.15 to 0.57.
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.
LOW vs NKE: side by side
| LOW (Lowe's) | NKE (Nike, Inc.) | |
|---|---|---|
| 1-year return | -18.4% | -49.4% |
| 5-year return | +11.1% | -75.2% |
| Volatility (ann.) | 24.8% | 36.6% |
| Beta vs S&P 500 | 0.83 | 0.93 |
| Max drawdown (3Y) | -29.0% | -66.9% |
| Market cap | – | $57.0B |
| P/E (trailing) | 17.8 | 18.4 |
| Dividend yield | 2.31% | 4.22% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | LOW | NKE |
|---|---|---|
| 2022 | -21.5% | -29.0% |
| 2023 | +14.0% | -6.0% |
| 2024 | +13.0% | -29.1% |
| 2025 | -0.3% | -13.8% |
| 2026 | -12.9% | -38.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOW and NKE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LOW and NKE?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.38 over the last year and 0.43 over 5 years.
Is NKE a good diversifier for LOW?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 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: LOW correlations · NKE correlations
