Correlation Analysis
Equinix, Inc. Common Stock REIT vs Walmart Inc. Common Stock
EQIX vs WMT
+0.609
Moderate positive
When one moves up, the other tends to follow.
Equinix, Inc. Common Stock REIT
↗EQIX
Equinix is one of the leading providers of cloud- and carrier-neutral data centers, offering colocation and interconnection services to hyperscalers and businesses. Equinix operates 270 properties in 77 metropolitan areas across 36 countries, serving over 10,000 customers. About 70% of Equinix's revenue comes from renting physical space, which allows hyperscalers and other clients to store servers, data storage, and networking equipment. The other 30% of revenue is generated primarily through interconnection services (20%) and other managed services (10%).
Market cap 100.2B · 13,716 employees
Walmart Inc. Common Stock
↗WMT
Since its founding in 1962, Walmart has become the world's largest retailer, operating over 10,700 stores globally (including 4,600 namesake locations on its home turf and another 600 Sam's Club outlets) and growing its e-commerce presence, attracting 270 million customers weekly. In aggregate, the firm posted more than $680 billion in fiscal 2025 sales. Its core operations span three reporting segments: Walmart US (68% of fiscal 2025 sales), Walmart International (18%), and Sam's Club (14%). Within the US, nearly 60% of its $465 billion in fiscal 2025 revenue came from its grocery offerings, with another quarter from general merchandise. Internationally, Walmart's operations are concentrated in Mexico, though it also has budding exposure to India.
Market cap 1T
Time Series
Relative Performance
Who Moves First
in sync
EQIX and WMT tend to move at the same time.
After testing 13 timing shifts, the strongest relationship was +0.609 (they moved in the same direction).
Do They Crash Together?
Correlation by Market Regime
How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.
Both Rising
+0.441
16 periods · Return correlation when both series rose
Both Falling
+0.535
6 periods · Return correlation when both series fell
Diverging
-0.650
13 periods · Return correlation when series moved apart
R-Squared
37.1%
Share of variance in one series explained by the other.
Trend Agreement
60.3%
How often both series moved in the same direction period-to-period.
Overlap Quality
1,254
Deep shared window — 1,254 usable pairs.
Significance
p < 0.001
95% CI: [0.573, 0.643]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,254 paired data points survived the daily window.
Raw input
1,254
1,254
Normalized
1,254
1,254
Prepared
1,254
1,254
Aligned
1,254
1,254
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
0
A: 0 / B: 0
Series A
Equinix, Inc. Common Stock REIT
EQIX
Market cap 100.2B · 13,716 employees
Stock · 1,254 raw → 1,254 prepared
Series B
Walmart Inc. Common Stock
WMT
Market cap 1T
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
41
Estimated crossover points between normalized spreads.
Slope
0.1701
Linear regression slope.
Intercept
-65.9262
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
EQIX
Equinix, Inc. Common Stock REIT
Highest
+0.649
NetFlix Inc
NFLX · 1,254 data points
Lowest
+0.111
Johnson & Johnson
JNJ · 1,254 data points
Saved 7 hours ago · ID: stock-eqix-vs-stock-wmt-daily