ULTA vs. CBOE
ULTA (Ulta Beauty, Inc.) and CBOE (Cboe Global Markets, Inc.) are both stocks. ULTA operates in Specialty Retail (Consumer Cyclical), while CBOE operates in Financial Data & Stock Exchanges (Financial Services). Over the past 10 years, ULTA returned 6.79%/yr vs 17.38%/yr for CBOE. At a 0.17 correlation, their price movements are largely independent.
Performance
ULTA vs. CBOE - Performance Comparison
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Returns By Period
In the year-to-date period, ULTA achieves a -23.51% return, which is significantly lower than CBOE's 12.19% return. Over the past 10 years, ULTA has underperformed CBOE with an annualized return of 6.79%, while CBOE has yielded a comparatively higher 17.38% annualized return.
ULTA
- 1D
- -0.91%
- 1M
- -11.27%
- YTD
- -23.51%
- 6M
- -21.47%
- 1Y
- -0.61%
- 3Y*
- 2.99%
- 5Y*
- 6.83%
- 10Y*
- 6.79%
CBOE
- 1D
- -0.56%
- 1M
- -19.41%
- YTD
- 12.19%
- 6M
- 11.21%
- 1Y
- 27.25%
- 3Y*
- 27.99%
- 5Y*
- 21.30%
- 10Y*
- 17.38%
ULTA vs. CBOE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ULTA Ulta Beauty, Inc. | -23.51% | 39.11% | -11.24% | 4.46% | 13.76% | 43.59% | 13.44% | 3.39% | 9.47% | -12.27% |
CBOE Cboe Global Markets, Inc. | 12.19% | 29.96% | 10.74% | 44.37% | -2.16% | 42.23% | -21.17% | 24.16% | -20.60% | 70.49% |
Correlation
The correlation between ULTA and CBOE is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2010 | 0.17 |
The correlation between ULTA and CBOE shifts across timeframes, from -0.06 (3 years) to 0.17 (all time), reflecting how their relationship changes across market environments.
Fundamentals
ULTA:
$20.35B
CBOE:
$29.43B
ULTA:
$26.57
CBOE:
$11.77
ULTA:
17.42
CBOE:
23.83
ULTA:
1.73
CBOE:
0.44
ULTA:
1.63
CBOE:
6.14
ULTA:
7.88
CBOE:
5.48
ULTA:
$12.71B
CBOE:
$4.79B
ULTA:
$5.00B
CBOE:
$2.50B
ULTA:
$1.81B
CBOE:
$1.87B
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Return for Risk
ULTA vs. CBOE — Risk / Return Rank
ULTA
CBOE
ULTA vs. CBOE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ulta Beauty, Inc. (ULTA) and Cboe Global Markets, Inc. (CBOE). 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.
| ULTA | CBOE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.20 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 1.11 | -1.13 |
| Martin ratioReturn relative to average drawdown | -0.05 | 5.44 | -5.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ULTA | CBOE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.02 | 1.01 | -1.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.92 | -0.72 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.18 | 0.69 | -0.51 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.66 | -0.31 |
Drawdowns
ULTA vs. CBOE - Drawdown Comparison
The maximum ULTA drawdown since its inception was -87.89%, which is greater than CBOE's maximum drawdown of -43.23%. Use the drawdown chart below to compare losses from any high point for ULTA and CBOE.
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Drawdown Indicators
| ULTA | CBOE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.89% | -43.23% | -44.66% |
Max Drawdown (1Y)Largest decline over 1 year | -34.56% | -24.69% | -9.87% |
Max Drawdown (3Y)Largest decline over 3 years | -44.56% | -24.69% | -19.87% |
Max Drawdown (5Y)Largest decline over 5 years | -44.56% | -24.69% | -19.87% |
Max Drawdown (10Y)Largest decline over 10 years | -64.92% | -43.23% | -21.69% |
Current DrawdownCurrent decline from peak | -34.52% | -23.40% | -11.12% |
Average DrawdownAverage peak-to-trough decline | -20.80% | -11.40% | -9.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.51% | 5.02% | +8.49% |
Volatility
ULTA vs. CBOE - Volatility Comparison
The current volatility for Ulta Beauty, Inc. (ULTA) is 9.07%, while Cboe Global Markets, Inc. (CBOE) has a volatility of 15.60%. This indicates that ULTA experiences smaller price fluctuations and is considered to be less risky than CBOE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ULTA | CBOE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.07% | 15.60% | -6.53% |
Volatility (6M)Calculated over the trailing 6-month period | 27.67% | 23.74% | +3.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.25% | 27.02% | +6.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.25% | 23.17% | +11.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.32% | 25.32% | +13.00% |
Dividends
ULTA vs. CBOE - Dividend Comparison
ULTA has not paid dividends to shareholders, while CBOE's dividend yield for the trailing twelve months is around 1.03%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBOE Cboe Global Markets, Inc. | 1.03% | 1.08% | 1.21% | 1.18% | 1.56% | 1.38% | 1.68% | 1.12% | 1.19% | 0.83% | 1.30% | 1.36% |
ULTA Ulta Beauty, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
ULTA vs. CBOE - Financials Comparison
This section allows you to compare key financial metrics between Ulta Beauty, Inc. and Cboe Global Markets, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
ULTA vs. CBOE - Profitability Comparison
ULTA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Ulta Beauty, Inc. reported a gross profit of 1.27B and revenue of 3.16B. Therefore, the gross margin over that period was 40.1%.
CBOE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Cboe Global Markets, Inc. reported a gross profit of 669.90M and revenue of 1.27B. Therefore, the gross margin over that period was 52.6%.
ULTA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Ulta Beauty, Inc. reported an operating income of 448.26M and revenue of 3.16B, resulting in an operating margin of 14.2%.
CBOE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Cboe Global Markets, Inc. reported an operating income of 505.60M and revenue of 1.27B, resulting in an operating margin of 39.7%.
ULTA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Ulta Beauty, Inc. reported a net income of 340.47M and revenue of 3.16B, resulting in a net margin of 10.8%.
CBOE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Cboe Global Markets, Inc. reported a net income of 385.70M and revenue of 1.27B, resulting in a net margin of 30.3%.
Frequently Asked Questions
ULTA and CBOE have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CBOE has higher volatility (15.60%) compared to ULTA (9.07%). In terms of maximum drawdown, ULTA dropped -87.89% vs CBOE's -43.23%.
CBOE currently has the higher Sharpe Ratio (1.01 vs -0.02), 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.
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