TJX vs WMT: Correlation
TJX Companies (TJX) and Walmart (WMT) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TJX and WMT?
Across a 3-year window, the weekly returns of TJX and WMT correlate at 0.40, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.26 versus 0.40 over 3 years. Stretching to 5 years gives 0.40, with an annualized covariance of 169.4 %².
By 3-year correlation, WMT places #18 of the 35 assets tracked against TJX. On 12-month performance WMT holds a 8.7-point edge, -1.0% against +7.7%. The relationship is regime-dependent: the rolling one-year correlation swung between 0.13 and 0.74 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.
TJX vs WMT: side by side
| TJX (TJX Companies) | WMT (Walmart) | |
|---|---|---|
| 1-year return | -1.0% | +7.7% |
| 5-year return | +98.2% | +121.9% |
| Volatility (ann.) | 18.3% | 23.0% |
| Beta vs S&P 500 | 0.45 | 0.53 |
| Max drawdown (3Y) | -20.1% | -23.3% |
| Market cap | $148.3B | $816.7B |
| P/E (trailing) | 24.9 | 37.1 |
| Dividend yield | 1.32% | 0.92% |
| Sector / category | Consumer Discretionary | Consumer Staples |
Year-by-year returns
| Year | TJX | WMT |
|---|---|---|
| 2022 | +6.7% | -0.5% |
| 2023 | +19.7% | +12.9% |
| 2024 | +30.6% | +74.0% |
| 2025 | +28.7% | +24.5% |
| 2026 | -11.8% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TJX and WMT good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between TJX and WMT?
As of 2026-08-27, the correlation of weekly returns between TJX and WMT is 0.40 over 3 years, 0.26 over 1 year and 0.40 over 5 years.
Is WMT a good diversifier for TJX?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 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: TJX correlations · WMT correlations
