BJ vs XPON: Correlation
BJ's Wholesale Club Holdings, Inc. (BJ) and Expion360 Inc. (XPON) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BJ and XPON?
On 3 years of weekly data the BJ/XPON correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. The 5-year figure is -0.10, and annualized covariance runs at -931.2 %².
Among the 43 assets we track against BJ, XPON ranks #36 by 3-year correlation. The last year tells two different stories: BJ led by 53.1 percentage points, -6.9% for BJ against -60.0% for XPON. One caveat on sizing: XPON is 5.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 XPON: side by side
| BJ (BJ's Wholesale Club Holdings, Inc.) | XPON (Expion360 Inc.) | |
|---|---|---|
| 1-year return | -6.9% | -60.0% |
| 5-year return | +59.5% | -99.9% |
| Volatility (ann.) | 26.4% | 144.0% |
| Beta vs S&P 500 | -0.14 | 1.37 |
| Max drawdown (3Y) | -30.1% | -100.0% |
| Market cap | $11.4B | – |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BJ | XPON |
|---|---|---|
| 2022 | -1.2% | – |
| 2023 | +0.8% | +134.3% |
| 2024 | +34.0% | -99.6% |
| 2025 | +0.8% | -71.6% |
| 2026 | +0.5% | -2.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BJ and XPON good diversifiers for each other?
Yes. With a correlation of -0.25, BJ and XPON have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BJ and XPON?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.21 over the last year and -0.10 over 5 years.
Is XPON a good diversifier for BJ?
Yes. With a correlation of -0.25, BJ and XPON have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bj-vs-xpon.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bj-vs-xpon/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BJ correlations · XPON correlations
