Callaway Golf Correlations

MODG Stock

USD 9.32 0.00 0.00%

The current 90-days correlation between Callaway Golf and Acushnet Holdings Corp is 0.58 (i.e., Very weak 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 0.36 (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 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

0.8	BC	Brunswick Earnings Call This Week	Pair Corr
0.61	UA	Under Armour C	Pair Corr
0.79	DOOO	BRP Inc	Pair Corr
0.76	BZH	Beazer Homes USA	Pair Corr
0.86	DFH	Dream Finders Homes Downward Rally	Pair Corr
0.82	DHI	DR Horton	Pair Corr
0.79	TPH	TRI Pointe Homes Earnings Call This Week	Pair Corr
0.77	GPRO	GoPro Inc	Pair Corr
0.79	MBUU	Malibu Boats	Pair Corr
0.87	MCFT	MCBC Holdings	Pair Corr
0.62	PLBY	Plby Group	Pair Corr
0.84	BIRD	Allbirds	Pair Corr
0.82	F	Ford Motor Earnings Call Tomorrow	Pair Corr
0.75	H	Hyatt Hotels Earnings Call This Week	Pair Corr
0.83	W	Wayfair	Pair Corr
0.77	DIBS	1StdibsCom	Pair Corr
0.84	AN	AutoNation	Pair Corr
0.86	BH	Biglari Holdings	Pair Corr

Moving against Callaway Stock

0.74	LULU	Lululemon Athletica	Pair Corr
0.69	NWTG	Newton Golf Symbol Change	Pair Corr
0.63	ESCA	Escalade Incorporated Earnings Call This Week	Pair Corr
0.49	CRI	Carters Earnings Call This Week	Pair Corr
0.39	VNCE	Vince Holding Corp	Pair Corr
0.38	HBI	Hanesbrands	Pair Corr
0.34	DOGZ	Dogness International	Pair Corr
0.69	TM	Toyota Motor	Pair Corr
0.47	JD	JD Inc Adr Aggressive Push	Pair Corr
0.46	SG	Sweetgreen	Pair Corr

Related Correlations Analysis

	GOLF	LUCK	YETI	MSGE	PRKS	LTH	ONON	VSCO
GOLF		0.66	0.88	0.91	0.5	-0.39	0.58	0.34	GOLF
LUCK	0.66		0.47	0.51	0.38	0.14	0.02	-0.09	LUCK
YETI	0.88	0.47		0.79	0.49	-0.35	0.61	0.42	YETI
MSGE	0.91	0.51	0.79		0.49	-0.42	0.69	0.45	MSGE
PRKS	0.5	0.38	0.49	0.49		0.1	0.33	0.41	PRKS
LTH	-0.39	0.14	-0.35	-0.42	0.1		-0.58	-0.4	LTH
ONON	0.58	0.02	0.61	0.69	0.33	-0.58		0.85	ONON
VSCO	0.34	-0.09	0.42	0.45	0.41	-0.4	0.85		VSCO
	GOLF	LUCK	YETI	MSGE	PRKS	LTH	ONON	VSCO

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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

MSGE	+ 0.91	GOLF
YETI	+ 0.88	GOLF
VSCO	+ 0.85	ONON
MSGE	+ 0.79	YETI
ONON	+ 0.69	MSGE
LUCK	+ 0.66	GOLF

High negative correlations

ONON	- 0.58	LTH
LTH	- 0.42	MSGE
VSCO	- 0.4	LTH
LTH	- 0.39	GOLF
LTH	- 0.35	YETI
VSCO	- 0.09	LUCK

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
GOLF	1.43	0.25	0.21	0.32	1.12	(1.79)	3.36	(2.02)	8.79
LUCK	2.25	0.11	0.03	0.26	3.04	(2.35)	5.57	(3.71)	17.10
YETI	2.09	0.06	0.08	0.16	2.14	(2.41)	4.01	(4.60)	17.72
MSGE	1.35	0.28	0.15	0.43	1.41	(1.46)	3.40	(2.41)	9.93
PRKS	1.59	0.03	0.03	0.15	2.00	(1.74)	3.48	(3.65)	11.04
LTH	1.77	(0.21)	0.00	(0.04)	0.00	0.00	3.68	(3.88)	12.11
ONON	1.71	0.18	0.11	0.29	1.55	(2.09)	3.82	(2.16)	18.06
VSCO	2.77	0.02	0.04	0.14	3.19	(2.74)	5.51	(5.48)	21.99

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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