SU vs ULTA: Correlation
How closely do Suncor Energy Inc. (SU) and Ulta Beauty (ULTA) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SU and ULTA?
Across a 3-year window, the weekly returns of SU and ULTA correlate at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.31 versus -0.19 over 3 years. Stretching to 5 years gives -0.05, with an annualized covariance of -195.9 %².
By 3-year correlation, ULTA places #18 of the 24 assets tracked against SU. Their recent paths diverged sharply: over the last 12 months SU outperformed by 63.1 percentage points (+64.3% for SU 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.
SU vs ULTA: side by side
| SU (Suncor Energy Inc.) | ULTA (Ulta Beauty) | |
|---|---|---|
| 1-year return | +64.3% | +1.2% |
| 5-year return | +325.4% | +41.0% |
| Volatility (ann.) | 29.1% | 35.3% |
| Beta vs S&P 500 | 0.13 | 0.75 |
| Max drawdown (3Y) | -22.7% | -44.6% |
| Market cap | $78.4B | $23.2B |
| P/E (trailing) | 12.1 | 20.4 |
| Dividend yield | 3.61% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | SU | ULTA |
|---|---|---|
| 2022 | +32.3% | +13.8% |
| 2023 | +6.0% | +4.5% |
| 2024 | +16.2% | -11.2% |
| 2025 | +27.1% | +39.1% |
| 2026 | +51.9% | -10.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SU and ULTA good diversifiers for each other?
Yes. With a correlation of -0.19, SU and ULTA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SU and ULTA?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.31 over the last year and -0.05 over 5 years.
Is ULTA a good diversifier for SU?
Yes. With a correlation of -0.19, SU and ULTA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
A reading of -0.19 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/su-vs-ulta.json
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Related comparisons
Hubs: SU correlations · ULTA correlations
