UAA vs. LULU

Last updated Jun 3, 2026

UAA (Under Armour, Inc.) and LULU (Lululemon Athletica Inc.) are both stocks. Both are in the Consumer Cyclical sector — UAA in Apparel Manufacturing, LULU in Apparel Retail. Over the past 10 years, UAA returned -17.33%/yr vs 6.52%/yr for LULU. At a 0.48 correlation, their price movements are largely independent.

Performance

UAA vs. LULU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Under Armour, Inc. (UAA) and Lululemon Athletica Inc. (LULU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UAA achieves a 9.26% return, which is significantly higher than LULU's -39.14% return. Over the past 10 years, UAA has underperformed LULU with an annualized return of -17.33%, while LULU has yielded a comparatively higher 6.52% annualized return.

UAA

• 1D: -1.99%
• 1M: -13.67%
• YTD: 9.26%
• 6M: 19.08%
• 1Y: -16.59%
• 3Y*: -11.52%
• 5Y*: -24.51%
• 10Y*: -17.33%

LULU

• 1D: -4.25%
• 1M: -5.32%
• YTD: -39.14%
• 6M: -30.66%
• 1Y: -60.84%
• 3Y*: -29.79%
• 5Y*: -16.81%
• 10Y*: 6.52%

*Multi-year figures are annualized to reflect compound growth (CAGR)

UAA vs. LULU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UAA Under Armour, Inc.	9.26%	-39.98%	-5.80%	-13.48%	-52.05%	23.41%	-20.51%	22.24%	22.45%	-50.33%
LULU Lululemon Athletica Inc.	-39.14%	-45.66%	-25.21%	59.59%	-18.16%	12.48%	50.23%	90.50%	54.74%	20.93%

Correlation

The correlation between UAA and LULU is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jul 30, 2007	0.48

The correlation between UAA and LULU shifts across timeframes, from 0.43 (3 years) to 0.53 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS UAA : -$1.16 LULU : $14.61
PS Ratio UAA : 0.47 LULU : 1.36
Total Revenue (TTM) UAA : $4.97B LULU : $11.07B
Gross Profit (TTM) UAA : $2.26B LULU : $6.47B
EBITDA (TTM) UAA : -$36.44M LULU : $2.95B

Return for Risk

UAA vs. LULU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UAA

UAA Risk / Return Rank: 27
UAA Sharpe Ratio Rank: 27
UAA Sortino Ratio Rank: 28
UAA Omega Ratio Rank: 28
UAA Calmar Ratio Rank: 25
UAA Martin Ratio Rank: 27

LULU

LULU Risk / Return Rank: 4
LULU Sharpe Ratio Rank: 1
LULU Sortino Ratio Rank: 2
LULU Omega Ratio Rank: 2
LULU Calmar Ratio Rank: 4
LULU Martin Ratio Rank: 10

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UAA vs. LULU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Under Armour, Inc. (UAA) and Lululemon Athletica Inc. (LULU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	UAA	LULU	Difference
Sharpe ratio Return per unit of total volatility	-0.30	-1.28	+0.97
Sortino ratio Return per unit of downside risk	-0.08	-2.02	+1.94
Omega ratio Gain probability vs. loss probability	0.99	0.72	+0.27
Calmar ratio Return relative to maximum drawdown	-0.44	-0.93	+0.49
Martin ratio Return relative to average drawdown	-0.71	-1.30	+0.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UAA vs. LULU - Sharpe Ratio Comparison

The current UAA Sharpe Ratio is -0.30, which is higher than the LULU Sharpe Ratio of -1.28. The chart below compares the historical Sharpe Ratios of UAA and LULU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UAA	LULU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.30	-1.28	+0.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.47	-0.40	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.33	0.16	-0.49
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	0.25	-0.20

Drawdowns

UAA vs. LULU - Drawdown Comparison

The maximum UAA drawdown since its inception was -91.99%, roughly equal to the maximum LULU drawdown of -92.26%. Use the drawdown chart below to compare losses from any high point for UAA and LULU.

Drawdown Indicators

	UAA	LULU	Difference
Max Drawdown Largest peak-to-trough decline	-91.99%	-92.26%	+0.27%
Max Drawdown (1Y) Largest decline over 1 year	-43.42%	-64.46%	+21.04%
Max Drawdown (3Y) Largest decline over 3 years	-62.53%	-76.70%	+14.17%
Max Drawdown (5Y) Largest decline over 5 years	-84.53%	-76.70%	-7.83%
Max Drawdown (10Y) Largest decline over 10 years	-90.43%	-76.70%	-13.73%
Current Drawdown Current decline from peak	-89.57%	-75.26%	-14.31%
Average Drawdown Average peak-to-trough decline	-45.70%	-27.53%	-18.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.93%	46.08%	-19.15%

Volatility

UAA vs. LULU - Volatility Comparison

Under Armour, Inc. (UAA) has a higher volatility of 23.01% compared to Lululemon Athletica Inc. (LULU) at 10.29%. This indicates that UAA's price experiences larger fluctuations and is considered to be riskier than LULU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UAA	LULU	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.01%	10.29%	+12.72%
Volatility (6M) Calculated over the trailing 6-month period	43.30%	31.59%	+11.71%
Volatility (1Y) Calculated over the trailing 1-year period	54.68%	47.80%	+6.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.73%	42.04%	+10.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.12%	40.54%	+11.58%

Dividends

UAA vs. LULU - Dividend Comparison

Neither UAA nor LULU has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

UAA vs. LULU - Profitability Comparison

The chart below illustrates the profitability comparison between Under Armour, Inc. and Lululemon Athletica Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

UAA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Under Armour, Inc. reported a gross profit of 492.04M and revenue of 1.17B. Therefore, the gross margin over that period was 42.0%.

LULU - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Lululemon Athletica Inc. reported a gross profit of 1.43B and revenue of 2.57B. Therefore, the gross margin over that period was 55.6%.

UAA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Under Armour, Inc. reported an operating income of -33.70M and revenue of 1.17B, resulting in an operating margin of -2.9%.

LULU - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Lululemon Athletica Inc. reported an operating income of 444.69M and revenue of 2.57B, resulting in an operating margin of 17.3%.

UAA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Under Armour, Inc. reported a net income of -43.39M and revenue of 1.17B, resulting in a net margin of -3.7%.

LULU - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Lululemon Athletica Inc. reported a net income of 306.84M and revenue of 2.57B, resulting in a net margin of 12.0%.

Frequently Asked Questions

Can I hold both UAA and LULU in my portfolio?

UAA and LULU have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UAA or LULU?

UAA has higher volatility (23.01%) compared to LULU (10.29%). In terms of maximum drawdown, UAA dropped -91.99% vs LULU's -92.26%.

Which has better risk-adjusted returns?

UAA currently has the higher Sharpe Ratio (-0.30 vs -1.28), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.