ULBI vs ULH: Correlation
How closely do Ultralife Corporation (ULBI) and Universal Logistics Holdings, Inc. (ULH) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ULBI and ULH?
Across a 3-year window, the weekly returns of ULBI and ULH correlate at 0.48, moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.48 over 3. Stretching to 5 years gives 0.37, with an annualized covariance of 1944.0 %².
In ULBI's tracked universe of 13 assets, ULH sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months ULBI outperformed by 20.3 percentage points (-5.7% for ULBI against -26.0% for ULH).
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.
ULBI vs ULH: side by side
| ULBI (Ultralife Corporation) | ULH (Universal Logistics Holdings, Inc.) | |
|---|---|---|
| 1-year return | -5.7% | -26.0% |
| 5-year return | -19.1% | -5.6% |
| Volatility (ann.) | 59.1% | 68.3% |
| Beta vs S&P 500 | 1.74 | 1.46 |
| Max drawdown (3Y) | -68.8% | -76.1% |
| Market cap | $0.1B | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ULBI | ULH |
|---|---|---|
| 2022 | -36.1% | +79.9% |
| 2023 | +76.7% | -14.9% |
| 2024 | +9.2% | +65.6% |
| 2025 | -23.2% | -66.3% |
| 2026 | +13.8% | +26.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ULBI and ULH good diversifiers for each other?
Reasonably. At 0.48, ULBI and ULH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ULBI and ULH?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.43 over the last year and 0.37 over 5 years.
Is ULH a good diversifier for ULBI?
Reasonably. At 0.48, ULBI and ULH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ulbi-vs-ulh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ulbi-vs-ulh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ULBI correlations · ULH correlations
