LULU vs ULTA: Correlation
Measured on weekly returns over the past three years, Lululemon Athletica (LULU) and Ulta Beauty (ULTA) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LULU and ULTA?
Across a 3-year window, the weekly returns of LULU and ULTA correlate at 0.43, moderate. Little has changed lately, as the 1-year reading of 0.44 lands near the 3-year figure. Stretching to 5 years gives 0.43, with an annualized covariance of 626.9 %².
Among the 34 assets we track against LULU, ULTA ranks #7 by 3-year correlation. The last year tells two different stories: ULTA led by 45.3 percentage points, -44.1% for LULU against +1.2% for ULTA. Across three years, the rolling one-year figure varied moderately, from 0.25 to 0.55.
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 ULTA: side by side
| LULU (Lululemon Athletica) | ULTA (Ulta Beauty) | |
|---|---|---|
| 1-year return | -44.1% | +1.2% |
| 5-year return | -72.3% | +41.0% |
| Volatility (ann.) | 41.8% | 35.3% |
| Beta vs S&P 500 | 0.98 | 0.75 |
| Max drawdown (3Y) | -79.4% | -44.6% |
| Market cap | $13.1B | $23.2B |
| P/E (trailing) | 9.4 | 20.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | LULU | ULTA |
|---|---|---|
| 2022 | -18.2% | +13.8% |
| 2023 | +59.6% | +4.5% |
| 2024 | -25.2% | -11.2% |
| 2025 | -45.7% | +39.1% |
| 2026 | -44.7% | -10.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LULU and ULTA good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LULU and ULTA?
As of 2026-08-27, the correlation of weekly returns between LULU and ULTA is 0.43 over 3 years, 0.44 over 1 year and 0.43 over 5 years.
Is ULTA a good diversifier for LULU?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
A reading of 0.43 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/lulu-vs-ulta.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lulu-vs-ulta/)
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Related comparisons
Hubs: LULU correlations · ULTA correlations
