Correlation Analysis
International Flavors & Fragrances Inc. vs Walmart Inc. Common Stock
IFF vs WMT
-0.607
Moderate inverse
When one moves up, the other tends to move down.
International Flavors & Fragrances Inc.
↗IFF
International Flavors & Fragrances is the largest specialty ingredients producer globally. It sells ingredients for the food, beverage, health, household goods, personal care, and pharmaceutical industries. The company makes proprietary formulations, partnering with customers to deliver custom solutions. Through its taste and scent segments, which each generate around 25% of profits, IFF is a leading flavor and fragrances producer. The health and biosciences business, which generates 30% of profits, is a global leader in probiotics and enzymes. The remaining profits come from the food ingredients business, which sells texturants, plant-based proteins, and other ingredients, though IFF plans to divest this business in the future.
Market cap 18.3B · 21,500 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
IFF leads WMT by 6 days
IFF tends to move before WMT.
After testing 13 timing shifts, the strongest relationship was -0.609 (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
+0.349
13 periods · Return correlation when both series rose
Both Falling
+0.518
6 periods · Return correlation when both series fell
Diverging
-0.643
16 periods · Return correlation when series moved apart
R-Squared
36.8%
Share of variance in one series explained by the other.
Trend Agreement
56.4%
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: [-0.641, -0.571]
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
International Flavors & Fragrances Inc.
IFF
Market cap 18.3B · 21,500 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
13
Estimated crossover points between normalized spreads.
Slope
-0.5497
Linear regression slope.
Intercept
120.7199
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
IFF
International Flavors & Fragrances Inc.
Highest
-0.097
Johnson & Johnson
JNJ · 1,254 data points
Lowest
-0.814
Exxon Mobil Corporation
XOM · 1,254 data points
Saved 6 hours ago · ID: stock-iff-vs-stock-wmt-daily