MI vs WMT: Correlation
Measured on weekly returns over the past three years, NFT Limited Class A (MI) and Walmart (WMT) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MI and WMT?
Over the past 3 years, MI and WMT moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.33) than the 3-year average (-0.22). Over 5 years the correlation is -0.17, and the annualized covariance of weekly returns is -22749.4 %².
Among the 32 assets we track against MI, WMT ranks #22 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WMT ahead by 18.0 points (-10.3% versus +7.7%). One caveat on sizing: MI is 193.2 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.
MI vs WMT: side by side
| MI (NFT Limited Class A) | WMT (Walmart) | |
|---|---|---|
| 1-year return | -10.3% | +7.7% |
| 5-year return | -99.5% | +121.9% |
| Volatility (ann.) | 4443.9% | 23.0% |
| Beta vs S&P 500 | 8.21 | 0.53 |
| Max drawdown (3Y) | -98.5% | -23.3% |
| Market cap | – | $816.7B |
| P/E (trailing) | – | 37.1 |
| Dividend yield | 0.00% | 0.92% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | MI | WMT |
|---|---|---|
| 2022 | -86.4% | -0.5% |
| 2023 | -66.2% | +12.9% |
| 2024 | -61.9% | +74.0% |
| 2025 | +13.3% | +24.5% |
| 2026 | -28.9% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MI and WMT good diversifiers for each other?
Yes. With a correlation of -0.22, MI and WMT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MI and WMT?
The MI/WMT correlation stands at -0.22 on a 3-year window (1 year: -0.33, 5 years: -0.17), computed from weekly returns as of 2026-08-27.
Is WMT a good diversifier for MI?
Yes. With a correlation of -0.22, MI and WMT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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: MI correlations · WMT correlations
