NKE vs TH: Correlation
Measured on weekly returns over the past three years, Nike, Inc. (NKE) and Target Hospitality Corp. (TH) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NKE and TH?
Over the past 3 years, NKE and TH moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -474.7 %².
Within NKE's tracked universe of 33 assets, TH comes in at #24 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TH ahead by 162.9 points (-49.4% versus +113.5%). One caveat on sizing: TH is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
NKE vs TH: side by side
| NKE (Nike, Inc.) | TH (Target Hospitality Corp.) | |
|---|---|---|
| 1-year return | -49.4% | +113.5% |
| 5-year return | -75.2% | +383.7% |
| Volatility (ann.) | 36.6% | 63.3% |
| Beta vs S&P 500 | 0.93 | 0.47 |
| Max drawdown (3Y) | -66.9% | -69.1% |
| Market cap | $57.0B | $1.9B |
| P/E (trailing) | 18.4 | – |
| Dividend yield | 4.22% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | NKE | TH |
|---|---|---|
| 2022 | -29.0% | +325.3% |
| 2023 | -6.0% | -35.7% |
| 2024 | -29.1% | -0.7% |
| 2025 | -13.8% | -17.1% |
| 2026 | -38.7% | +136.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NKE and TH good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between NKE and TH?
As of 2026-08-27, the correlation of weekly returns between NKE and TH is -0.20 over 3 years, -0.23 over 1 year and -0.12 over 5 years.
Is TH a good diversifier for NKE?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nke-vs-th.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nke-vs-th/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NKE correlations · TH correlations
