JCI vs WMT: Correlation
Johnson Controls (JCI) and Walmart (WMT) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JCI and WMT?
On 3 years of weekly data the JCI/WMT correlation comes out at 0.39, moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.39 over 3. The 5-year figure is 0.38, and annualized covariance runs at 251.5 %².
Within JCI's tracked universe of 32 assets, WMT comes in at #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with JCI ahead by 23.2 points (+30.9% versus +7.7%). The rolling one-year correlation moved between 0.10 and 0.51 over the past three years, a moderate range.
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.
JCI vs WMT: side by side
| JCI (Johnson Controls) | WMT (Walmart) | |
|---|---|---|
| 1-year return | +30.9% | +7.7% |
| 5-year return | +108.2% | +121.9% |
| Volatility (ann.) | 28.1% | 23.0% |
| Beta vs S&P 500 | 0.98 | 0.53 |
| Max drawdown (3Y) | -21.1% | -23.3% |
| Market cap | $86.1B | $816.7B |
| P/E (trailing) | 40.1 | 37.1 |
| Dividend yield | 1.11% | 0.92% |
| Sector / category | Industrials | Consumer Staples |
Year-by-year returns
| Year | JCI | WMT |
|---|---|---|
| 2022 | -19.3% | -0.5% |
| 2023 | -7.6% | +12.9% |
| 2024 | +39.8% | +74.0% |
| 2025 | +53.0% | +24.5% |
| 2026 | +19.5% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JCI and WMT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between JCI and WMT?
As of 2026-08-27, the correlation of weekly returns between JCI and WMT is 0.39 over 3 years, 0.40 over 1 year and 0.38 over 5 years.
Is WMT a good diversifier for JCI?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: JCI correlations · WMT correlations
