TAP vs WMT: Correlation
Molson Coors Beverage Company (TAP) and Walmart (WMT) show a weak relationship: their 3-year correlation of weekly returns is 0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TAP and WMT?
Across a 3-year window, the weekly returns of TAP and WMT correlate at 0.20, weak. Lately the two have moved closer together, with the 1-year correlation at 0.35 versus 0.20 over 3 years. Stretching to 5 years gives 0.28, with an annualized covariance of 107.9 %².
By 3-year correlation, WMT places #25 of the 38 assets tracked against TAP. Correlation aside, the last 12 months split them widely, with WMT ahead by 22.7 points (-15.0% versus +7.7%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.06 to 0.48.
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.
TAP vs WMT: side by side
| TAP (Molson Coors Beverage Company) | WMT (Walmart) | |
|---|---|---|
| 1-year return | -15.0% | +7.7% |
| 5-year return | +3.9% | +121.9% |
| Volatility (ann.) | 23.9% | 23.0% |
| Beta vs S&P 500 | 0.15 | 0.53 |
| Max drawdown (3Y) | -38.8% | -23.3% |
| Market cap | $7.8B | $816.7B |
| P/E (trailing) | – | 37.1 |
| Dividend yield | 4.51% | 0.92% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | TAP | WMT |
|---|---|---|
| 2022 | +14.4% | -0.5% |
| 2023 | +22.2% | +12.9% |
| 2024 | -3.4% | +74.0% |
| 2025 | -15.5% | +24.5% |
| 2026 | -8.8% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TAP and WMT good diversifiers for each other?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between TAP and WMT?
The TAP/WMT correlation stands at 0.20 on a 3-year window (1 year: 0.35, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is WMT a good diversifier for TAP?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.20 mean?
On the −1 to +1 scale, 0.20 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: TAP correlations · WMT correlations
