TPR vs ULTA: Correlation
Tapestry, Inc. (TPR) and Ulta Beauty (ULTA) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TPR and ULTA?
On 3 years of weekly data the TPR/ULTA correlation comes out at 0.38, moderate. The link has tightened recently: the 1-year correlation (0.49) runs above the 3-year figure (0.38). The 5-year figure is 0.40, and annualized covariance runs at 503.6 %².
Within TPR's tracked universe of 36 assets, ULTA comes in at #24 by 3-year correlation. The last year tells two different stories: TPR led by 22.4 percentage points, +23.6% for TPR against +1.2% for ULTA. The relationship is regime-dependent: the rolling one-year correlation swung between 0.01 and 0.64 over the past three years, so this pair behaves very differently depending on the market environment.
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.
TPR vs ULTA: side by side
| TPR (Tapestry, Inc.) | ULTA (Ulta Beauty) | |
|---|---|---|
| 1-year return | +23.6% | +1.2% |
| 5-year return | +240.1% | +41.0% |
| Volatility (ann.) | 37.8% | 35.3% |
| Beta vs S&P 500 | 1.05 | 0.75 |
| Max drawdown (3Y) | -31.8% | -44.6% |
| Market cap | $24.6B | $23.2B |
| P/E (trailing) | 17.9 | 20.4 |
| Dividend yield | 1.23% | 0.00% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | TPR | ULTA |
|---|---|---|
| 2022 | -3.3% | +13.8% |
| 2023 | +0.2% | +4.5% |
| 2024 | +82.8% | -11.2% |
| 2025 | +98.7% | +39.1% |
| 2026 | -3.0% | -10.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TPR and ULTA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between TPR and ULTA?
The TPR/ULTA correlation stands at 0.38 on a 3-year window (1 year: 0.49, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is ULTA a good diversifier for TPR?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/tpr-vs-ulta.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/tpr-vs-ulta/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TPR correlations · ULTA correlations
