BF.B vs WMT: Correlation
Brown–Forman (BF.B) and Walmart (WMT) show a weak relationship: their 3-year correlation of weekly returns is 0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BF.B and WMT?
Over the past 3 years, BF.B and WMT moved with a correlation of 0.20, which is weak. Recent behaviour matches the longer record: 0.29 over 1 year against 0.20 over 3. Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 153.6 %².
By 3-year correlation, WMT places #25 of the 36 assets tracked against BF.B. Correlation aside, the last 12 months split them widely, with WMT ahead by 15.1 points (-7.4% versus +7.7%). This link changes with the market regime, having swung between -0.07 and 0.51 on a rolling one-year basis.
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.
BF.B vs WMT: side by side
| BF.B (Brown–Forman) | WMT (Walmart) | |
|---|---|---|
| 1-year return | -7.4% | +7.7% |
| 5-year return | -56.8% | +121.9% |
| Volatility (ann.) | 34.0% | 23.0% |
| Beta vs S&P 500 | 0.51 | 0.53 |
| Max drawdown (3Y) | -64.8% | -23.3% |
| Market cap | $12.5B | $816.7B |
| P/E (trailing) | 18.3 | 37.1 |
| Dividend yield | 3.26% | 0.92% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | BF.B | WMT |
|---|---|---|
| 2022 | -8.9% | -0.5% |
| 2023 | -11.9% | +12.9% |
| 2024 | -32.2% | +74.0% |
| 2025 | -29.3% | +24.5% |
| 2026 | +6.6% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BF.B and WMT good diversifiers for each other?
Reasonably. At 0.20, BF.B and WMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BF.B and WMT?
The BF.B/WMT correlation stands at 0.20 on a 3-year window (1 year: 0.29, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is WMT a good diversifier for BF.B?
Reasonably. At 0.20, BF.B and WMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.20 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: BF.B correlations · WMT correlations
