Callaway Golf Correlations

MODG Stock

USD 8.85 0.26 3.03%

The current 90-days correlation between Callaway Golf and SeaWorld Entertainment is -0.12 (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

Modest diversification

The correlation between Callaway Golf and DJI is 0.22 (i.e., Modest 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.

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 unemployment.

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

0.68	DOOO	BRP Inc Earnings Call This Week	Pair Corr
0.66	WLDS	Wearable Devices Buyout Trend	Pair Corr
0.8	CCS	Century Communities	Pair Corr
0.7	CRI	Carters	Pair Corr
0.7	DFH	Dream Finders Homes	Pair Corr
0.8	DHI	DR Horton	Pair Corr
0.73	DTC	Solo Brands	Pair Corr
0.74	HAS	Hasbro Inc	Pair Corr
0.75	HOV	Hovnanian Enterprises Earnings Call This Week	Pair Corr
0.62	IBP	Installed Building	Pair Corr
0.63	KBH	KB Home Fiscal Year End 8th of January 2025	Pair Corr

Moving against Callaway Stock

0.62	HBI	Hanesbrands	Pair Corr
0.59	AS	Amer Sports, Trending	Pair Corr
0.55	GIL	Gildan Activewear	Pair Corr
0.53	DOGZ	Dogness International Downward Rally	Pair Corr
0.53	ESCA	Escalade Incorporated	Pair Corr
0.5	VSTO	Vista Outdoor	Pair Corr
0.48	RL	Ralph Lauren Corp	Pair Corr
0.34	VOXX	VOXX International	Pair Corr
0.31	FORD	Forward Industries	Pair Corr
0.74	JRSH	Jerash Holdings	Pair Corr
0.74	BH	Biglari Holdings	Pair Corr
0.66	GM	General Motors Aggressive Push	Pair Corr
0.58	LULU	Lululemon Athletica	Pair Corr
0.52	JZ	Jianzhi Education	Pair Corr
0.42	GT	Goodyear Tire Rubber	Pair Corr
0.34	BQ	Boqii Holding Limited	Pair Corr

Related Correlations Analysis

	SEAS	BOWL	JOUT	YETI	XPOF	GOLF	LTH	PLNT	FUN
SEAS		0.33	0.02	0.12	-0.41	-0.46	0.5	-0.39	-0.64	SEAS
BOWL	0.33		0.19	0.44	0.16	0.15	0.7	0.17	-0.01	BOWL
JOUT	0.02	0.19		0.45	-0.1	0.09	0.28	-0.25	-0.04	JOUT
YETI	0.12	0.44	0.45		0.01	0.28	0.51	0.09	-0.14	YETI
XPOF	-0.41	0.16	-0.1	0.01		0.75	0.04	0.79	0.71	XPOF
GOLF	-0.46	0.15	0.09	0.28	0.75		0.07	0.8	0.77	GOLF
LTH	0.5	0.7	0.28	0.51	0.04	0.07		0.08	-0.25	LTH
PLNT	-0.39	0.17	-0.25	0.09	0.79	0.8	0.08		0.69	PLNT
FUN	-0.64	-0.01	-0.04	-0.14	0.71	0.77	-0.25	0.69		FUN
	SEAS	BOWL	JOUT	YETI	XPOF	GOLF	LTH	PLNT	FUN

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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

PLNT	+ 0.8	GOLF
PLNT	+ 0.79	XPOF
FUN	+ 0.77	GOLF
GOLF	+ 0.75	XPOF
FUN	+ 0.71	XPOF
LTH	+ 0.7	BOWL

High negative correlations

FUN	- 0.64	SEAS
GOLF	- 0.46	SEAS
XPOF	- 0.41	SEAS
PLNT	- 0.39	SEAS
FUN	- 0.25	LTH
PLNT	- 0.25	JOUT

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
SEAS	1.85	0.07	(0.05)	(0.04)	2.18	(1.94)	3.85	(3.45)	10.32
BOWL	2.36	(0.11)	(0.02)	0.04	2.55	(2.76)	5.15	(4.37)	16.04
JOUT	1.35	(0.23)	0.00	(0.07)	0.00	0.00	2.89	(2.32)	8.15
YETI	1.63	(0.08)	0.00	(0.04)	0.00	0.00	3.85	(3.01)	12.33
XPOF	2.92	0.06	0.02	0.17	3.25	(3.13)	5.96	(5.55)	35.52
GOLF	1.23	0.08	0.02	0.26	1.36	(1.51)	2.22	(2.74)	14.90
LTH	1.58	(0.07)	(0.02)	0.06	2.05	(1.66)	3.14	(2.43)	13.48
PLNT	1.32	0.28	0.17	0.47	1.14	(1.52)	3.44	(2.60)	12.22
FUN	1.68	(0.09)	(0.02)	0.06	2.02	(1.82)	3.54	(3.85)	9.00

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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