AZZ vs WMT: Correlation
AZZ Inc. (AZZ) and Walmart (WMT) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZZ and WMT?
Over the past 3 years, AZZ and WMT moved with a correlation of 0.39, which is moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 290.8 %².
Out of 11 assets tracked against AZZ, WMT lands near the bottom at #8. The trailing year gives AZZ the advantage: +20.8% versus +7.7%, a 13.1-point spread.
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.
AZZ vs WMT: side by side
| AZZ (AZZ Inc.) | WMT (Walmart) | |
|---|---|---|
| 1-year return | +20.8% | +7.7% |
| 5-year return | +177.7% | +121.9% |
| Volatility (ann.) | 32.5% | 23.0% |
| Beta vs S&P 500 | 1.09 | 0.53 |
| Max drawdown (3Y) | -23.7% | -23.3% |
| Market cap | $4.2B | $816.7B |
| P/E (trailing) | 21.5 | 37.1 |
| Dividend yield | 0.57% | 0.92% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | AZZ | WMT |
|---|---|---|
| 2022 | -26.1% | -0.5% |
| 2023 | +46.8% | +12.9% |
| 2024 | +42.3% | +74.0% |
| 2025 | +31.9% | +24.5% |
| 2026 | +31.0% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZZ and WMT good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AZZ and WMT?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.43 over the last year and 0.35 over 5 years.
Is WMT a good diversifier for AZZ?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 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: AZZ correlations · WMT correlations
