AGRO vs WMT: Correlation
Measured on weekly returns over the past three years, Adecoagro S.A. (AGRO) and Walmart (WMT) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGRO and WMT?
Across a 3-year window, the weekly returns of AGRO and WMT correlate at -0.21, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.34 versus -0.21 over 3 years. Stretching to 5 years gives -0.07, with an annualized covariance of -200.1 %².
By 3-year correlation, WMT places #22 of the 36 assets tracked against AGRO. Their recent paths diverged sharply: over the last 12 months AGRO outperformed by 20.4 percentage points (+28.1% for AGRO against +7.7% for WMT). Risk is not evenly split, since AGRO carries 1.8 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.
AGRO vs WMT: side by side
| AGRO (Adecoagro S.A.) | WMT (Walmart) | |
|---|---|---|
| 1-year return | +28.1% | +7.7% |
| 5-year return | +29.1% | +121.9% |
| Volatility (ann.) | 41.7% | 23.0% |
| Beta vs S&P 500 | -0.27 | 0.53 |
| Max drawdown (3Y) | -41.3% | -23.3% |
| Market cap | $1.5B | $816.7B |
| P/E (trailing) | 28.9 | 37.1 |
| Dividend yield | 0.00% | 0.92% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | AGRO | WMT |
|---|---|---|
| 2022 | +11.5% | -0.5% |
| 2023 | +38.6% | +12.9% |
| 2024 | -12.4% | +74.0% |
| 2025 | -14.3% | +24.5% |
| 2026 | +36.0% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGRO and WMT good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between AGRO and WMT?
As of 2026-08-27, the correlation of weekly returns between AGRO and WMT is -0.21 over 3 years, -0.34 over 1 year and -0.07 over 5 years.
Is WMT a good diversifier for AGRO?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AGRO correlations · WMT correlations
