SBH vs ULTA: Correlation
Sally Beauty Holdings, Inc. Commo (SBH) and Ulta Beauty (ULTA) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SBH and ULTA?
Across a 3-year window, the weekly returns of SBH and ULTA correlate at 0.42, moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. Stretching to 5 years gives 0.44, with an annualized covariance of 663.8 %².
Among the 14 assets we track against SBH, ULTA ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SBH ahead by 15.3 points (+16.5% versus +1.2%).
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.
SBH vs ULTA: side by side
| SBH (Sally Beauty Holdings, Inc. Commo) | ULTA (Ulta Beauty) | |
|---|---|---|
| 1-year return | +16.5% | +1.2% |
| 5-year return | -12.3% | +41.0% |
| Volatility (ann.) | 45.3% | 35.3% |
| Beta vs S&P 500 | 1.15 | 0.75 |
| Max drawdown (3Y) | -45.2% | -44.6% |
| Market cap | $1.5B | $23.2B |
| P/E (trailing) | 8.6 | 20.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | SBH | ULTA |
|---|---|---|
| 2022 | -32.2% | +13.8% |
| 2023 | +6.1% | +4.5% |
| 2024 | -21.3% | -11.2% |
| 2025 | +36.5% | +39.1% |
| 2026 | +15.1% | -10.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SBH and ULTA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SBH and ULTA?
The SBH/ULTA correlation stands at 0.42 on a 3-year window (1 year: 0.47, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is ULTA a good diversifier for SBH?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 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: SBH correlations · ULTA correlations
