ULTA vs VSXY: Correlation
Measured on weekly returns over the past three years, Ulta Beauty (ULTA) and Victorias Secret & Co. (VSXY) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ULTA and VSXY?
Over the past 3 years, ULTA and VSXY moved with a correlation of 0.39, which is moderate. Recent behaviour matches the longer record: 0.42 over 1 year against 0.39 over 3. Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 1025.3 %².
By 3-year correlation, VSXY places #15 of the 31 assets tracked against ULTA. The last year tells two different stories: VSXY led by 292.6 percentage points, +1.2% for ULTA against +293.8% for VSXY. Note the risk asymmetry: VSXY runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ULTA vs VSXY: side by side
| ULTA (Ulta Beauty) | VSXY (Victorias Secret & Co.) | |
|---|---|---|
| 1-year return | +1.2% | +293.8% |
| 5-year return | +41.0% | +34.1% |
| Volatility (ann.) | 35.3% | 74.0% |
| Beta vs S&P 500 | 0.75 | 1.73 |
| Max drawdown (3Y) | -44.6% | -69.5% |
| Market cap | $23.2B | $7.1B |
| P/E (trailing) | 20.4 | 35.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | ULTA | VSXY |
|---|---|---|
| 2022 | +13.8% | -35.6% |
| 2023 | +4.5% | -25.8% |
| 2024 | -11.2% | +56.1% |
| 2025 | +39.1% | +30.8% |
| 2026 | -10.7% | +65.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ULTA and VSXY good diversifiers for each other?
Reasonably. At 0.39, ULTA and VSXY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ULTA and VSXY?
The ULTA/VSXY correlation stands at 0.39 on a 3-year window (1 year: 0.42, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is VSXY a good diversifier for ULTA?
Reasonably. At 0.39, ULTA and VSXY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 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/ulta-vs-vsxy.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ulta-vs-vsxy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ULTA correlations · VSXY correlations
