Camping World Correlations

CWH Stock

USD 18.34 0.08 0.43%

The current 90-days correlation between Camping World Holdings and TFI International is 0.51 (i.e., Very weak diversification). The correlation of Camping World 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.

Camping World Correlation With Market

Poor diversification

The correlation between Camping World Holdings and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Camping World Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Camping Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Camping World Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Camping Stock

0.94	W	Wayfair	Pair Corr
0.67	DIBS	1StdibsCom	Pair Corr
0.85	AN	AutoNation	Pair Corr
0.88	FL	Foot Locker Sell-off Trend	Pair Corr
0.91	JL	J Long Group	Pair Corr
0.61	DLTH	Duluth Holdings	Pair Corr
0.77	BBY	Best Buy	Pair Corr
0.86	HVT	Haverty Furniture	Pair Corr
0.85	ARHS	Arhaus Inc	Pair Corr
0.79	TTSH	Tile Shop Holdings	Pair Corr
0.84	BH	Biglari Holdings	Pair Corr
0.89	WING	Wingstop	Pair Corr
0.78	BDL	Flanigans Enterprises	Pair Corr
0.7	CMG	Chipotle Mexican Grill Aggressive Push	Pair Corr
0.95	DIN	Dine Brands Global	Pair Corr
0.9	DRI	Darden Restaurants	Pair Corr
0.79	EAT	Brinker International	Pair Corr
0.68	QSR	Restaurant Brands	Pair Corr
0.91	NATH	Nathans Famous	Pair Corr

Moving against Camping Stock

0.31	JD	JD Inc Adr	Pair Corr
0.77	DNUT	Krispy Kreme	Pair Corr
0.69	SG	Sweetgreen	Pair Corr
0.63	FWRG	First Watch Restaurant	Pair Corr
0.55	BTBDW	BT Brands Warrant	Pair Corr
0.5	MCD	McDonalds Sell-off Trend	Pair Corr

Related Correlations Analysis

	RBC	TFII	HAFN	BTCT	VRRM	EDTK	HAE	IH
RBC		0.92	0.9	-0.37	0.91	-0.68	0.94	0.85	RBC
TFII	0.92		0.85	-0.28	0.86	-0.56	0.91	0.81	TFII
HAFN	0.9	0.85		-0.25	0.77	-0.57	0.84	0.87	HAFN
BTCT	-0.37	-0.28	-0.25		-0.34	0.48	-0.33	-0.1	BTCT
VRRM	0.91	0.86	0.77	-0.34		-0.69	0.96	0.83	VRRM
EDTK	-0.68	-0.56	-0.57	0.48	-0.69		-0.66	-0.62	EDTK
HAE	0.94	0.91	0.84	-0.33	0.96	-0.66		0.88	HAE
IH	0.85	0.81	0.87	-0.1	0.83	-0.62	0.88		IH
	RBC	TFII	HAFN	BTCT	VRRM	EDTK	HAE	IH

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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

HAE	+ 0.96	VRRM
HAE	+ 0.94	RBC
TFII	+ 0.92	RBC
VRRM	+ 0.91	RBC
HAE	+ 0.91	TFII
HAFN	+ 0.9	RBC

High negative correlations

EDTK	- 0.69	VRRM
EDTK	- 0.68	RBC
HAE	- 0.66	EDTK
IH	- 0.62	EDTK
EDTK	- 0.57	HAFN
EDTK	- 0.56	TFII

Risk-Adjusted Indicators

There is a big difference between Camping Stock performing well and Camping World 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 Camping World'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
RBC	1.44	0.19	0.11	0.29	1.51	(1.56)	3.28	(2.52)	13.18
TFII	1.95	0.23	0.10	0.33	2.00	(2.34)	4.76	(3.54)	17.34
HAFN	1.93	0.31	0.10	0.46	2.43	(2.11)	5.17	(3.66)	12.68
BTCT	3.68	(0.31)	0.00	(0.12)	0.00	0.00	9.74	(7.79)	21.73
VRRM	1.51	0.13	0.06	0.25	1.59	(1.88)	4.29	(3.13)	12.45
EDTK	2.65	(0.12)	0.00	0.93	0.00	0.00	5.56	(6.32)	19.32
HAE	1.55	0.20	0.11	0.31	1.61	(1.76)	2.99	(2.88)	11.79
IH	2.51	0.30	0.07	0.50	3.23	(2.90)	5.68	(5.44)	14.17

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