AIT vs WMT: Correlation
Applied Industrial Technologies, Inc. (AIT) and Walmart (WMT) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIT and WMT?
Across a 3-year window, the weekly returns of AIT and WMT correlate at 0.38, moderate. Little has changed lately, as the 1-year reading of 0.37 lands near the 3-year figure. Stretching to 5 years gives 0.36, with an annualized covariance of 225.4 %².
Among the 26 assets we track against AIT, WMT sits near the bottom by co-movement, at rank #22. Correlation aside, the last 12 months split them widely, with AIT ahead by 19.2 points (+26.9% versus +7.7%).
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.
AIT vs WMT: side by side
| AIT (Applied Industrial Technologies, Inc.) | WMT (Walmart) | |
|---|---|---|
| 1-year return | +26.9% | +7.7% |
| 5-year return | +291.4% | +121.9% |
| Volatility (ann.) | 26.0% | 23.0% |
| Beta vs S&P 500 | 1.03 | 0.53 |
| Max drawdown (3Y) | -26.4% | -23.3% |
| Market cap | $12.4B | $816.7B |
| P/E (trailing) | 31.2 | 37.1 |
| Dividend yield | 0.57% | 0.92% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | AIT | WMT |
|---|---|---|
| 2022 | +24.2% | -0.5% |
| 2023 | +38.4% | +12.9% |
| 2024 | +39.7% | +74.0% |
| 2025 | +8.0% | +24.5% |
| 2026 | +32.4% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIT and WMT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AIT and WMT?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.37 over the last year and 0.36 over 5 years.
Is WMT a good diversifier for AIT?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 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.
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Related comparisons
Hubs: AIT correlations · WMT correlations
