ULTA vs VXX: Correlation
Measured on weekly returns over the past three years, Ulta Beauty (ULTA) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ULTA and VXX?
On 3 years of weekly data the ULTA/VXX correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.22) sits close to the 3-year figure. The 5-year figure is -0.31, and annualized covariance runs at -612.9 %².
Among the 31 assets we track against ULTA, VXX sits near the bottom by co-movement, at rank #31. The last year tells two different stories: ULTA led by 50.9 percentage points, +1.2% for ULTA against -49.7% for VXX. Risk is not evenly split, since VXX carries 1.7 times the volatility of the other side.
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 VXX: side by side
| ULTA (Ulta Beauty) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +1.2% | -49.7% |
| 5-year return | +41.0% | -95.6% |
| Volatility (ann.) | 35.3% | 60.9% |
| Beta vs S&P 500 | 0.75 | -3.31 |
| Max drawdown (3Y) | -44.6% | -83.3% |
| Market cap | $23.2B | – |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | ULTA | VXX |
|---|---|---|
| 2022 | +13.8% | -23.8% |
| 2023 | +4.5% | -72.5% |
| 2024 | -11.2% | -26.2% |
| 2025 | +39.1% | -42.2% |
| 2026 | -10.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ULTA and VXX good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ULTA and VXX?
As of 2026-08-27, the correlation of weekly returns between ULTA and VXX is -0.29 over 3 years, -0.22 over 1 year and -0.31 over 5 years.
Is VXX a good diversifier for ULTA?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 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-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ulta-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ULTA correlations · VXX correlations
