SHOE vs ZUMZ: Correlation
Shoe Station Group, Inc. (SHOE) and Zumiez Inc. (ZUMZ) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SHOE and ZUMZ?
Across a 3-year window, the weekly returns of SHOE and ZUMZ correlate at 0.54, moderate. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. Stretching to 5 years gives 0.56, with an annualized covariance of 1165.7 %².
Among the 17 assets we track against SHOE, ZUMZ ranks #7 by 3-year correlation. The last year tells two different stories: ZUMZ led by 31.4 percentage points, -34.7% for SHOE against -3.3% for ZUMZ.
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 ZUMZ: side by side
| SHOE (Shoe Station Group, Inc.) | ZUMZ (Zumiez Inc.) | |
|---|---|---|
| 1-year return | -34.7% | -3.3% |
| 5-year return | -59.3% | -57.5% |
| Volatility (ann.) | 43.2% | 50.2% |
| Beta vs S&P 500 | 1.24 | 1.20 |
| Max drawdown (3Y) | -68.0% | -60.2% |
| Market cap | $0.4B | $0.3B |
| P/E (trailing) | 10.3 | 24.5 |
| Dividend yield | 4.30% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SHOE | ZUMZ |
|---|---|---|
| 2022 | -38.0% | -54.7% |
| 2023 | +28.5% | -6.4% |
| 2024 | +11.2% | -5.8% |
| 2025 | -47.6% | +35.9% |
| 2026 | -15.5% | -32.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SHOE and ZUMZ good diversifiers for each other?
Only partially. A correlation of 0.54 means SHOE and ZUMZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between SHOE and ZUMZ?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.61 over the last year and 0.56 over 5 years.
Is ZUMZ a good diversifier for SHOE?
Only partially. A correlation of 0.54 means SHOE and ZUMZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
A reading of 0.54 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 · ZUMZ correlations
