LOW vs ULTA: Correlation
Measured on weekly returns over the past three years, Lowe's (LOW) and Ulta Beauty (ULTA) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOW and ULTA?
Across a 3-year window, the weekly returns of LOW and ULTA correlate at 0.36, moderate. Little has changed lately, as the 1-year reading of 0.39 lands near the 3-year figure. Stretching to 5 years gives 0.39, with an annualized covariance of 317.4 %².
By 3-year correlation, ULTA places #36 of the 46 assets tracked against LOW. The last year tells two different stories: ULTA led by 19.6 percentage points, -18.4% for LOW against +1.2% for ULTA. The link looks structural: the rolling one-year correlation barely moved, holding between 0.21 and 0.43.
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 ULTA: side by side
| LOW (Lowe's) | ULTA (Ulta Beauty) | |
|---|---|---|
| 1-year return | -18.4% | +1.2% |
| 5-year return | +11.1% | +41.0% |
| Volatility (ann.) | 24.8% | 35.3% |
| Beta vs S&P 500 | 0.83 | 0.75 |
| Max drawdown (3Y) | -29.0% | -44.6% |
| Market cap | – | $23.2B |
| P/E (trailing) | 17.8 | 20.4 |
| Dividend yield | 2.31% | 0.00% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | LOW | ULTA |
|---|---|---|
| 2022 | -21.5% | +13.8% |
| 2023 | +14.0% | +4.5% |
| 2024 | +13.0% | -11.2% |
| 2025 | -0.3% | +39.1% |
| 2026 | -12.9% | -10.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOW and ULTA good diversifiers for each other?
Reasonably. At 0.36, LOW and ULTA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LOW and ULTA?
The LOW/ULTA correlation stands at 0.36 on a 3-year window (1 year: 0.39, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is ULTA a good diversifier for LOW?
Reasonably. At 0.36, LOW and ULTA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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/low-vs-ulta.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/low-vs-ulta/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LOW correlations · ULTA correlations
