TGT vs WMT: Correlation
Target Corporation (TGT) and Walmart (WMT) show a near-zero relationship: their 3-year correlation of weekly returns is 0.09.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TGT and WMT?
On 3 years of weekly data the TGT/WMT correlation comes out at 0.09, near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.18 lands near the 3-year figure. The 5-year figure is 0.36, and annualized covariance runs at 69.4 %².
By 3-year correlation, WMT places #25 of the 35 assets tracked against TGT. Correlation aside, the last 12 months split them widely, with TGT ahead by 68.5 points (+76.2% versus +7.7%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.18 and 0.49 over the past three years, so this pair behaves very differently depending on the market environment.
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.
TGT vs WMT: side by side
| TGT (Target Corporation) | WMT (Walmart) | |
|---|---|---|
| 1-year return | +76.2% | +7.7% |
| 5-year return | -22.2% | +121.9% |
| Volatility (ann.) | 32.0% | 23.0% |
| Beta vs S&P 500 | 0.62 | 0.53 |
| Max drawdown (3Y) | -49.8% | -23.3% |
| Market cap | $75.4B | $816.7B |
| P/E (trailing) | 17.2 | 37.1 |
| Dividend yield | 2.78% | 0.92% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | TGT | WMT |
|---|---|---|
| 2022 | -34.2% | -0.5% |
| 2023 | -1.4% | +12.9% |
| 2024 | -2.3% | +74.0% |
| 2025 | -24.5% | +24.5% |
| 2026 | +74.4% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TGT and WMT good diversifiers for each other?
Yes. With a correlation of 0.09, TGT and WMT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TGT and WMT?
As of 2026-08-27, the correlation of weekly returns between TGT and WMT is 0.09 over 3 years, 0.18 over 1 year and 0.36 over 5 years.
Is WMT a good diversifier for TGT?
Yes. With a correlation of 0.09, TGT and WMT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.09 mean?
A reading of 0.09 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/tgt-vs-wmt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/tgt-vs-wmt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TGT correlations · WMT correlations
