SHOE vs ULTA: Correlation
Measured on weekly returns over the past three years, Shoe Station Group, Inc. (SHOE) and Ulta Beauty (ULTA) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SHOE and ULTA?
Across a 3-year window, the weekly returns of SHOE and ULTA correlate at 0.42, moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 641.0 %².
Among the 17 assets we track against SHOE, ULTA ranks #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ULTA outperformed by 35.9 percentage points (-34.7% for SHOE against +1.2% for ULTA).
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.
SHOE vs ULTA: side by side
| SHOE (Shoe Station Group, Inc.) | ULTA (Ulta Beauty) | |
|---|---|---|
| 1-year return | -34.7% | +1.2% |
| 5-year return | -59.3% | +41.0% |
| Volatility (ann.) | 43.2% | 35.3% |
| Beta vs S&P 500 | 1.24 | 0.75 |
| Max drawdown (3Y) | -68.0% | -44.6% |
| Market cap | $0.4B | $23.2B |
| P/E (trailing) | 10.3 | 20.4 |
| Dividend yield | 4.30% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | SHOE | ULTA |
|---|---|---|
| 2022 | -38.0% | +13.8% |
| 2023 | +28.5% | +4.5% |
| 2024 | +11.2% | -11.2% |
| 2025 | -47.6% | +39.1% |
| 2026 | -15.5% | -10.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SHOE and ULTA good diversifiers for each other?
Reasonably. At 0.42, SHOE and ULTA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SHOE and ULTA?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.43 over the last year and 0.47 over 5 years.
Is ULTA a good diversifier for SHOE?
Reasonably. At 0.42, SHOE and ULTA keep a meaningful degree of independence, and combining them has historically reduced portfolio 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.
Use this data
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Related comparisons
Hubs: SHOE correlations · ULTA correlations
