BBY vs TGT: Correlation
How closely do Best Buy (BBY) and Target Corporation (TGT) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBY and TGT?
Over the past 3 years, BBY and TGT moved with a correlation of 0.49, which is moderate. Little has changed lately, as the 1-year reading of 0.45 lands near the 3-year figure. Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 586.0 %².
Few assets follow BBY as closely as TGT, which ranks #2 of 33 tracked partners. The last year tells two different stories: TGT led by 59.3 percentage points, +16.9% for BBY against +76.2% for TGT. On a rolling one-year basis the correlation drifted between 0.36 and 0.72, a moderate band.
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.
BBY vs TGT: side by side
| BBY (Best Buy) | TGT (Target Corporation) | |
|---|---|---|
| 1-year return | +16.9% | +76.2% |
| 5-year return | -11.2% | -22.2% |
| Volatility (ann.) | 37.6% | 32.0% |
| Beta vs S&P 500 | 0.97 | 0.62 |
| Max drawdown (3Y) | -44.3% | -49.8% |
| Market cap | – | $75.4B |
| P/E (trailing) | 16.2 | 17.2 |
| Dividend yield | 0.00% | 2.78% |
| Sector / category | Consumer Discretionary | Consumer Staples |
Year-by-year returns
| Year | BBY | TGT |
|---|---|---|
| 2022 | -17.5% | -34.2% |
| 2023 | +2.5% | -1.4% |
| 2024 | +14.4% | -2.3% |
| 2025 | -17.8% | -24.5% |
| 2026 | +28.4% | +74.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBY and TGT good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BBY and TGT?
As of 2026-08-27, the correlation of weekly returns between BBY and TGT is 0.49 over 3 years, 0.45 over 1 year and 0.58 over 5 years.
Is TGT a good diversifier for BBY?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 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: BBY correlations · TGT correlations
