ULTA vs XOM: Correlation
Ulta Beauty (ULTA) and ExxonMobil (XOM) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ULTA and XOM?
Over the past 3 years, ULTA and XOM moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.23 over 1 year against -0.18 over 3. Over 5 years the correlation is -0.05, and the annualized covariance of weekly returns is -151.2 %².
Within ULTA's tracked universe of 31 assets, XOM comes in at #23 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XOM outperformed by 41.6 percentage points (+1.2% for ULTA against +42.8% for XOM). On a rolling one-year basis the correlation drifted between -0.29 and 0.20, a moderate band.
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 XOM: side by side
| ULTA (Ulta Beauty) | XOM (ExxonMobil) | |
|---|---|---|
| 1-year return | +1.2% | +42.8% |
| 5-year return | +41.0% | +237.9% |
| Volatility (ann.) | 35.3% | 24.3% |
| Beta vs S&P 500 | 0.75 | 0.01 |
| Max drawdown (3Y) | -44.6% | -20.1% |
| Market cap | $23.2B | $643.3B |
| P/E (trailing) | 20.4 | 20.1 |
| Dividend yield | 0.00% | 2.58% |
| Sector / category | Consumer Discretionary | Energy |
Year-by-year returns
| Year | ULTA | XOM |
|---|---|---|
| 2022 | +13.8% | +87.4% |
| 2023 | +4.5% | -6.3% |
| 2024 | -11.2% | +11.3% |
| 2025 | +39.1% | +16.0% |
| 2026 | -10.7% | +32.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ULTA and XOM good diversifiers for each other?
Yes. With a correlation of -0.18, ULTA and XOM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ULTA and XOM?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.23 over the last year and -0.05 over 5 years.
Is XOM a good diversifier for ULTA?
Yes. With a correlation of -0.18, ULTA and XOM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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/ulta-vs-xom.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ulta-vs-xom/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ULTA correlations · XOM correlations
