Correlation Analysis
EQT CORP vs Walmart Inc. Common Stock
EQT vs WMT
+0.760
Strong positive
When one moves up, the other tends to follow.
EQT CORP
↗EQT
EQT is an independent natural gas production company. It focuses its operations in the cores of the Marcellus and Utica shales, located in the Appalachian Basin in the Eastern United States. Its main customers include marketers, utilities, and industrial operators in the Appalachian Basin. The company has three reportable segments in production, gathering, and its transmission segment, which is now an operated joint venture with Blackstone. All the firm's operating revenue is generated in the US, with most revenue flowing from the Marcellus Shale field and through the sale of natural gas.
Market cap 37.7B · 1,523 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
WMT leads EQT by 6 days
WMT tends to move before EQT.
After testing 13 timing shifts, the strongest relationship was +0.762 (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
+0.296
16 periods · Return correlation when both series rose
Both Falling
+0.971
5 periods · Return correlation when both series fell
Diverging
-0.781
14 periods · Return correlation when series moved apart
R-Squared
57.8%
Share of variance in one series explained by the other.
Trend Agreement
52.1%
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: [0.736, 0.783]
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
EQT CORP
EQT
Market cap 37.7B · 1,523 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
22
Estimated crossover points between normalized spreads.
Slope
1.5781
Linear regression slope.
Intercept
4.8514
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 7 hours ago · ID: stock-eqt-vs-stock-wmt-daily