LULU vs NKE: Correlation
How closely do Lululemon Athletica (LULU) and Nike, Inc. (NKE) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LULU and NKE?
Across a 3-year window, the weekly returns of LULU and NKE correlate at 0.34, moderate. The relationship has been stable: the 1-year correlation (0.30) sits close to the 3-year figure. Stretching to 5 years gives 0.46, with an annualized covariance of 519.8 %².
Among the 34 assets we track against LULU, NKE ranks #22 by 3-year correlation. On 12-month performance LULU holds a 5.3-point edge, -44.1% against -49.4%. The rolling one-year correlation moved between 0.25 and 0.62 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.
LULU vs NKE: side by side
| LULU (Lululemon Athletica) | NKE (Nike, Inc.) | |
|---|---|---|
| 1-year return | -44.1% | -49.4% |
| 5-year return | -72.3% | -75.2% |
| Volatility (ann.) | 41.8% | 36.6% |
| Beta vs S&P 500 | 0.98 | 0.93 |
| Max drawdown (3Y) | -79.4% | -66.9% |
| Market cap | $13.1B | $57.0B |
| P/E (trailing) | 9.4 | 18.4 |
| Dividend yield | 0.00% | 4.22% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | LULU | NKE |
|---|---|---|
| 2022 | -18.2% | -29.0% |
| 2023 | +59.6% | -6.0% |
| 2024 | -25.2% | -29.1% |
| 2025 | -45.7% | -13.8% |
| 2026 | -44.7% | -38.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LULU and NKE good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LULU and NKE?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.30 over the last year and 0.46 over 5 years.
Is NKE a good diversifier for LULU?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
A reading of 0.34 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: LULU correlations · NKE correlations
