Callaway Golf Correlations

MODG Stock

USD 13.77 0.19 1.40%

The current 90-days correlation between Callaway Golf and Polestar Automotive Holding is -0.08 (i.e., Good diversification). The correlation of Callaway Golf is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Callaway Golf Correlation With Market

Weak diversification

The correlation between Callaway Golf and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Callaway Golf and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Callaway Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Callaway Golf. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

For more detail on how to invest in Callaway Stock please use our How to Invest in Callaway Golf guide.

Moving together with Callaway Stock

0.76	002348	Goldlok Toys Holdings	Pair Corr
0.94	YETI	YETI Holdings	Pair Corr
0.83	GAW	Games Workshop Group Earnings Call This Week	Pair Corr
0.63	605299	Shuhua Sports	Pair Corr
0.76	300247	Youngy Health	Pair Corr
0.7	002899	Impulse Qingdao Health	Pair Corr
0.8	KGC	Kinross Gold Aggressive Push	Pair Corr
0.72	LOCO	El Pollo Loco	Pair Corr
0.82	ACLLF	Atco	Pair Corr
0.63	CRS	Carpenter Technology	Pair Corr
0.84	DNGFF	Dongfang Electric	Pair Corr
0.83	FYBR	Frontier Communications	Pair Corr
0.67	SSEA	Starry Sea Acquisition	Pair Corr

Moving against Callaway Stock

0.75	002605	Shanghai Yaoji Playing	Pair Corr
0.65	603579	Shanghai Rongtai Health	Pair Corr
0.65	PTON	Peloton Interactive Aggressive Push	Pair Corr
0.62	300651	Jiangsu Jinling Sports	Pair Corr
0.71	ATMV	AlphaVest Acquisition Symbol Change	Pair Corr
0.33	DECAU	Denali Capital Acqui	Pair Corr
0.46	LPG	Dorian LPG	Pair Corr

Related Correlations Analysis

	PSNY	FUN	KSS	OSW	OI	MCRI	WEN	BLBD	LUCK	SHCO
PSNY		0.83	-0.72	0.25	-0.72	-0.59	0.63	0.43	0.24	-0.08	PSNY
FUN	0.83		-0.61	0.24	-0.69	-0.55	0.69	0.57	0.2	0.08	FUN
KSS	-0.72	-0.61		-0.16	0.77	0.52	-0.44	-0.5	0.1	0.02	KSS
OSW	0.25	0.24	-0.16		-0.03	-0.45	0.19	-0.26	0.04	-0.02	OSW
OI	-0.72	-0.69	0.77	-0.03		0.54	-0.41	-0.64	0.15	-0.06	OI
MCRI	-0.59	-0.55	0.52	-0.45	0.54		-0.2	0.05	0.41	0.18	MCRI
WEN	0.63	0.69	-0.44	0.19	-0.41	-0.2		0.5	0.36	0.09	WEN
BLBD	0.43	0.57	-0.5	-0.26	-0.64	0.05	0.5		0.25	0.15	BLBD
LUCK	0.24	0.2	0.1	0.04	0.15	0.41	0.36	0.25		0.08	LUCK
SHCO	-0.08	0.08	0.02	-0.02	-0.06	0.18	0.09	0.15	0.08		SHCO
	PSNY	FUN	KSS	OSW	OI	MCRI	WEN	BLBD	LUCK	SHCO

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FUN	+ 0.83	PSNY
OI	+ 0.77	KSS
WEN	+ 0.69	FUN
WEN	+ 0.63	PSNY
BLBD	+ 0.57	FUN
MCRI	+ 0.54	OI

High negative correlations

OI	- 0.72	PSNY
KSS	- 0.72	PSNY
OI	- 0.69	FUN
BLBD	- 0.64	OI
KSS	- 0.61	FUN
MCRI	- 0.59	PSNY

Risk-Adjusted Indicators

There is a big difference between Callaway Stock performing well and Callaway Golf Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Callaway Golf's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PSNY	5.36	(0.23)	0.00	(0.11)	0.00	0.00	12.04	(14.88)	34.99
FUN	3.37	(0.55)	0.00	(0.15)	0.00	0.00	4.60	(6.75)	27.50
KSS	3.47	0.22	0.13	0.14	3.20	(4.00)	7.49	(5.86)	49.53
OSW	1.38	0.08	0.01	0.54	1.53	(1.52)	4.69	(2.86)	10.07
OI	1.95	0.36	0.12	(2.90)	1.82	(2.16)	4.16	(3.57)	18.50
MCRI	0.89	(0.13)	0.00	(0.20)	0.00	0.00	1.64	(1.70)	6.16
WEN	1.76	(0.11)	0.00	1.15	0.00	0.00	4.56	(3.13)	11.11
BLBD	1.62	(0.19)	0.00	(0.19)	0.00	0.00	2.20	(3.51)	12.97
LUCK	1.95	(0.27)	0.00	(0.10)	0.00	0.00	3.99	(5.54)	13.70
SHCO	0.43	(0.17)	0.00	5.27	0.00	0.00	0.34	(0.45)	10.74

Callaway Golf Corporate Management

Glenn Hickey	Executive Golf	Profile
Maryam Morse	Chief Officer	Profile
Neil Howie	Middle Europe	Profile
Alan Hocknell	VP RD	Profile
Arthur III	Chief International	Profile
Rebecca Fine	Executive Officer	Profile
Mark Leposky	Executive Officer	Profile

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