Correlation Analysis
UL Solutions Inc. vs Walmart Inc. Common Stock
ULS vs WMT
+0.874
Very strong positive
When one moves up, the other tends to follow.
UL Solutions Inc.
↗ULS
UL Solutions is a global leader specializing in a broad range of product testing, inspection, and certification services. UL Solutions is the for-profit branch out of three organizations under the UL Enterprise. TIC operations make up nearly all of UL Solutions' total revenue and are composed of two segments: industrial and consumer. UL Solutions' remaining business includes software and advisory, which complements its core TIC offerings. The firm operates globally.
Market cap 16.9B · 14,851 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
ULS leads WMT by 6 days
ULS tends to move before WMT.
After testing 13 timing shifts, the strongest relationship was +0.874 (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
-0.168
15 periods · Return correlation when both series rose
Both Falling
+0.328
5 periods · Return correlation when both series fell
Diverging
-0.750
15 periods · Return correlation when series moved apart
R-Squared
76.3%
Share of variance in one series explained by the other.
Trend Agreement
53.9%
How often both series moved in the same direction period-to-period.
Overlap Quality
497
Robust shared window — 497 usable pairs.
Significance
p < 0.001
95% CI: [0.851, 0.893]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
497 paired data points survived the daily window.
Raw input
497
1,254
Normalized
497
1,254
Prepared
497
1,254
Aligned
497
497
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
757
A: 0 / B: 757
Series A
UL Solutions Inc.
ULS
Market cap 16.9B · 14,851 employees
Stock · 497 raw → 497 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
19
Estimated crossover points between normalized spreads.
Slope
1.0660
Linear regression slope.
Intercept
28.3284
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 7 hours ago · ID: stock-uls-vs-stock-wmt-daily