Amazon vs Walmart: performance comparison
Over the 12 months to Oct 5, 2026, Amazon returned +14.8% and Walmart +2.3%. This page puts the two side by side on the same dates — current prices, performance charts rebased to 100, returns from one month to five years, volatility, the deepest falls and how closely the two move together — recalculated daily from closing prices.
Performance, rebased to 100
Both lines start at 100 on the first shared date: a value of 150 means +50% since then.
- Amazon+14.8%
- Walmart+2.3%
- Amazon+52.9%
- Walmart+125.7%
Returns
| Period | Amazon | Walmart | Better |
|---|---|---|---|
| 1 month | -1.9% | -1.9% | Amazon |
| 3 months | +3.9% | -5.0% | Amazon |
| 6 months | +19.2% | -17.1% | Amazon |
| Year to date | +9.9% | -5.7% | Amazon |
| 1 year | +14.8% | +2.3% | Amazon |
| 3 years | +96.5% | +101.5% | Walmart |
| 5 years | +52.9% | +125.7% | Walmart |
Price returns between closing prices on the same dates for both assets; dividends and interest are not included. All prices are in US dollars. Data to Oct 5, 2026.
Risk
| Measure | Amazon | Walmart |
|---|---|---|
| Volatility, 1 year (annualized) | 33.8% | 26.5% |
| Volatility, 5 years (annualized, weekly) | 34.1% | 23.5% |
| Deepest fall, 5 years | -54.3%Nov 2021 – Dec 2022 | -24.9%Apr 2022 – Jun 2022 |
| Correlation, 1 year (daily returns) | -0.09 | |
| Correlation, 5 years (weekly returns) | 0.16 | |
Volatility is the annualized standard deviation of returns — higher means bigger swings. The deepest fall is the largest drop from a previous high. Correlation runs from −1 (opposite moves) through 0 (unrelated) to +1 (in lockstep).
What the numbers say
Over five years (Oct 2021 to Oct 2026), Amazon returned +52.9% and Walmart +125.7%. Amazon led over the past year, while Walmart led over five years.
Annualized volatility over the past year: Amazon 33.8%, Walmart 26.5% — Amazon was about 1.3× as volatile. Deepest fall over the period: Amazon -54.3% (Nov 2021 – Dec 2022), Walmart -24.9% (Apr 2022 – Jun 2022).
The correlation of their daily returns over the past year was -0.09. That is almost no relationship: they have moved largely independently. Over five years of weekly returns it was 0.16.
Past performance does not predict future returns.
Key differences
- Model: Amazon is an online-first retailer that also owns AWS, the largest cloud platform; Walmart is a store-first grocer and discount retailer that is growing its e-commerce and advertising.
- Profits: much of Amazon's operating profit comes from AWS and advertising rather than from retail; Walmart's comes mainly from retail, with thin margins on huge volumes.
- Cycle: Walmart's staples-heavy sales are relatively defensive in downturns; Amazon is more growth-oriented and its stock has usually been more volatile.
The two assets
Amazon
Amazon combines online retail with Amazon Web Services (AWS), the largest cloud provider, and a fast-growing advertising business; AWS generates a large share of its operating profit. Cloud growth and retail margins drive the stock.
Amazon chart and analysis →Walmart
Walmart is the world's largest retailer by revenue, selling groceries and everyday goods through its stores and a growing e-commerce and advertising business. Its staples-heavy sales have tended to hold up better than most stocks in downturns.
Walmart chart and analysis →Frequently asked questions
Which performed better over the past year, Amazon or Walmart?
Amazon. In the 12 months to Oct 5, 2026, Amazon returned +14.8% and Walmart +2.3%, a difference of 12.5 percentage points. Past performance does not predict future returns.
Which performed better over the past five years, Amazon or Walmart?
Walmart. From Oct 2021 to Oct 2026, Amazon returned +52.9% and Walmart +125.7%. Past performance does not predict future returns.
Which is more volatile, Amazon or Walmart?
Amazon — about 1.3 times as volatile as Walmart. Annualized volatility over the past year: Amazon 33.8%, Walmart 26.5%. Deepest fall over five years: Amazon -54.3%, Walmart -24.9%.
Do Amazon and Walmart move together?
Almost no relationship: they have moved largely independently. The correlation of their daily returns over the past year was -0.09, on a scale from −1 (opposite moves) to +1 (moving in lockstep). Over five years of weekly returns it was 0.16.
How we calculate
Both series are aligned on the trading days (or weeks) they share, so every return covers the same dates for both assets. Periods up to one year use daily closes; three and five years use weekly closes. Volatility is the annualized standard deviation of log returns, the deepest fall is measured on weekly closes, and correlation is the Pearson coefficient of returns over identical intervals. Data: Yahoo Finance and OKX, refreshed daily. All prices are in US dollars.