Correlation Analysis
Extra Space Storage, Inc. vs Walmart Inc. Common Stock
EXR vs WMT
-0.412
Moderate inverse
When one moves up, the other tends to move down.
Extra Space Storage, Inc.
↗EXR
Extra Space Storage is a fully integrated real estate investment trust that owns, operates, and manages more than 4,200 self-storage properties in 43 states, with over 330 million net rentable square feet of storage space. Of these properties, approximately one half is wholly owned, while some facilities are owned through joint ventures and others are owned by third parties and managed by Extra Space Storage in exchange for a management fee.
Market cap 28.3B · 8,393 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 EXR by 6 days
WMT tends to move before EXR.
After testing 13 timing shifts, the strongest relationship was -0.419 (they moved in opposite directions).
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
-0.098
13 periods · Return correlation when both series rose
Both Falling
+0.137
7 periods · Return correlation when both series fell
Diverging
-0.524
15 periods · Return correlation when series moved apart
R-Squared
16.9%
Share of variance in one series explained by the other.
Trend Agreement
59.4%
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: [-0.456, -0.364]
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
Extra Space Storage, Inc.
EXR
Market cap 28.3B · 8,393 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
20
Estimated crossover points between normalized spreads.
Slope
-0.4402
Linear regression slope.
Intercept
136.4949
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 6 hours ago · ID: stock-exr-vs-stock-wmt-daily