EDRY vs WMT: Correlation
Measured on weekly returns over the past three years, EuroDry Ltd. (EDRY) and Walmart (WMT) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDRY and WMT?
Across a 3-year window, the weekly returns of EDRY and WMT correlate at -0.24, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.40 versus -0.24 over 3 years. Stretching to 5 years gives -0.09, with an annualized covariance of -281.5 %².
WMT is close to the least connected end of EDRY's tracked universe, ranking #10 of 11. Their recent paths diverged sharply: over the last 12 months EDRY outperformed by 357.0 percentage points (+364.7% for EDRY against +7.7% for WMT). One caveat on sizing: EDRY is 2.2 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.
EDRY vs WMT: side by side
| EDRY (EuroDry Ltd.) | WMT (Walmart) | |
|---|---|---|
| 1-year return | +364.7% | +7.7% |
| 5-year return | +66.1% | +121.9% |
| Volatility (ann.) | 50.8% | 23.0% |
| Beta vs S&P 500 | 0.68 | 0.53 |
| Max drawdown (3Y) | -67.8% | -23.3% |
| Market cap | $0.1B | $816.7B |
| P/E (trailing) | 14.6 | 37.1 |
| Dividend yield | 0.00% | 0.92% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | EDRY | WMT |
|---|---|---|
| 2022 | -9.7% | -0.5% |
| 2023 | +10.9% | +12.9% |
| 2024 | -41.2% | +74.0% |
| 2025 | +14.6% | +24.5% |
| 2026 | +284.5% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDRY and WMT good diversifiers for each other?
Yes. With a correlation of -0.24, EDRY and WMT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EDRY and WMT?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.40 over the last year and -0.09 over 5 years.
Is WMT a good diversifier for EDRY?
Yes. With a correlation of -0.24, EDRY and WMT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 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: EDRY correlations · WMT correlations
