CASY vs WMT: Correlation
Measured on weekly returns over the past three years, Casey's (CASY) and Walmart (WMT) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CASY and WMT?
Over the past 3 years, CASY and WMT moved with a correlation of 0.37, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.37 over 3. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 243.0 %².
WMT is one of the assets that tracks CASY most closely: it ranks #2 out of the 30 assets we track against CASY. The last year tells two different stories: CASY led by 46.0 percentage points, +53.7% for CASY against +7.7% for WMT. Across three years, the rolling one-year figure varied moderately, from 0.06 to 0.49.
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.
CASY vs WMT: side by side
| CASY (Casey's) | WMT (Walmart) | |
|---|---|---|
| 1-year return | +53.7% | +7.7% |
| 5-year return | +284.3% | +121.9% |
| Volatility (ann.) | 28.9% | 23.0% |
| Beta vs S&P 500 | 0.39 | 0.53 |
| Max drawdown (3Y) | -16.6% | -23.3% |
| Market cap | $28.2B | $816.7B |
| P/E (trailing) | 42.2 | 37.1 |
| Dividend yield | 0.28% | 0.92% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | CASY | WMT |
|---|---|---|
| 2022 | +14.5% | -0.5% |
| 2023 | +23.3% | +12.9% |
| 2024 | +45.0% | +74.0% |
| 2025 | +40.1% | +24.5% |
| 2026 | +38.4% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CASY and WMT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CASY and WMT?
The CASY/WMT correlation stands at 0.37 on a 3-year window (1 year: 0.46, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is WMT a good diversifier for CASY?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 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: CASY correlations · WMT correlations
