BJ vs WMT: Correlation
BJ's Wholesale Club Holdings, Inc. (BJ) 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 BJ and WMT?
Over the past 3 years, BJ and WMT moved with a correlation of 0.38, which is moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 227.3 %².
In BJ's tracked universe of 43 assets, WMT sits right near the top at #1. Over the last 12 months WMT came out ahead by 14.6 percentage points (-6.9% against +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.
BJ vs WMT: side by side
| BJ (BJ's Wholesale Club Holdings, Inc.) | WMT (Walmart) | |
|---|---|---|
| 1-year return | -6.9% | +7.7% |
| 5-year return | +59.5% | +121.9% |
| Volatility (ann.) | 26.4% | 23.0% |
| Beta vs S&P 500 | -0.14 | 0.53 |
| Max drawdown (3Y) | -30.1% | -23.3% |
| Market cap | $11.4B | $816.7B |
| P/E (trailing) | 20.4 | 37.1 |
| Dividend yield | 0.00% | 0.92% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | BJ | WMT |
|---|---|---|
| 2022 | -1.2% | -0.5% |
| 2023 | +0.8% | +12.9% |
| 2024 | +34.0% | +74.0% |
| 2025 | +0.8% | +24.5% |
| 2026 | +0.5% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BJ and WMT good diversifiers for each other?
Reasonably. At 0.38, BJ and WMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BJ and WMT?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.46 over the last year and 0.42 over 5 years.
Is WMT a good diversifier for BJ?
Reasonably. At 0.38, BJ and WMT keep a meaningful degree of independence, and combining them has historically reduced portfolio 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: BJ correlations · WMT correlations
