AMZN vs WMT: Correlation
Amazon (AMZN) and Walmart (WMT) show a weak relationship: their 3-year correlation of weekly returns is 0.11.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMZN and WMT?
Across a 3-year window, the weekly returns of AMZN and WMT correlate at 0.11, weak. Lately the two have drifted apart, with the 1-year correlation at -0.24 versus 0.11 over 3 years. Stretching to 5 years gives 0.17, with an annualized covariance of 75.4 %².
By 3-year correlation, WMT places #26 of the 38 assets tracked against AMZN. Twelve-month performance is nearly a tie, at +11.8% for AMZN and +7.7% for WMT. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.35 to 0.48.
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.
AMZN vs WMT: side by side
| AMZN (Amazon) | WMT (Walmart) | |
|---|---|---|
| 1-year return | +11.8% | +7.7% |
| 5-year return | +49.8% | +121.9% |
| Volatility (ann.) | 31.0% | 23.0% |
| Beta vs S&P 500 | 1.48 | 0.53 |
| Max drawdown (3Y) | -30.9% | -23.3% |
| Market cap | $2,764.1B | $816.7B |
| P/E (trailing) | 20.9 | 37.1 |
| Dividend yield | 0.00% | 0.92% |
| Sector / category | Consumer Discretionary | Consumer Staples |
Year-by-year returns
| Year | AMZN | WMT |
|---|---|---|
| 2022 | -49.6% | -0.5% |
| 2023 | +80.9% | +12.9% |
| 2024 | +44.4% | +74.0% |
| 2025 | +5.2% | +24.5% |
| 2026 | +11.0% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMZN and WMT good diversifiers for each other?
Yes: at 0.11, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AMZN and WMT?
As of 2026-08-27, the correlation of weekly returns between AMZN and WMT is 0.11 over 3 years, -0.24 over 1 year and 0.17 over 5 years.
Is WMT a good diversifier for AMZN?
Yes: at 0.11, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.11 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: AMZN correlations · WMT correlations
