Callaway Golf Correlations
| MODG Stock | USD 15.41 0.26 1.66% |
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Callaway Golf moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Callaway Golf moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very weak diversification
The correlation between Callaway Golf and NYA is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Callaway Golf and NYA in the same portfolio, assuming nothing else is changed.
Callaway |
The ability to find closely correlated positions to Callaway Golf could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Callaway Golf when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Callaway Golf - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Callaway Golf to buy it.
Moving together with Callaway Stock
| 0.72 | BC | Brunswick Earnings Call This Week | PairCorr |
| 0.74 | MPX | Marine Products Earnings Call This Week | PairCorr |
| 0.72 | NVR | NVR Inc Earnings Call This Week | PairCorr |
| 0.7 | F | Ford Motor Earnings Call This Week | PairCorr |
| 0.66 | BH | Biglari Holdings | PairCorr |
| 0.75 | SG | Sweetgreen Financial Report 2nd of May 2024 | PairCorr |
| 0.65 | WING | Wingstop Financial Report 1st of May 2024 | PairCorr |
Moving against Callaway Stock
| 0.77 | NKE | Nike Inc Financial Report 4th of July 2024 | PairCorr |
| 0.75 | AIU | Meta Data | PairCorr |
| 0.74 | VEEE | Twin Vee Powercats | PairCorr |
| 0.67 | EGOX | NexteGO NV Ordinary | PairCorr |
| 0.67 | EWCZ | European Wax Center Financial Report 8th of May 2024 | PairCorr |
| 0.61 | BIG | Big Lots Financial Report 24th of May 2024 | PairCorr |
| 0.49 | VC | Visteon Corp Earnings Call This Week | PairCorr |
| 0.43 | GV | Visionary Education Symbol Change | PairCorr |
Related Correlations Analysis
| 0.45 | 0.8 | 0.16 | 0.77 | 0.5 | THO | ||
| 0.45 | 0.28 | -0.35 | 0.06 | 0.56 | EZGO | ||
| 0.8 | 0.28 | 0.47 | 0.82 | 0.35 | LCII | ||
| 0.16 | -0.35 | 0.47 | 0.59 | -0.14 | MCFT | ||
| 0.77 | 0.06 | 0.82 | 0.59 | 0.37 | WGO | ||
| 0.5 | 0.56 | 0.35 | -0.14 | 0.37 | MBUU | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| THO | 1.52 | (0.28) | 0.00 | (0.13) | 0.00 | 2.88 | 18.37 | |||
| EZGO | 5.11 | (0.76) | 0.00 | (2.17) | 0.00 | 10.87 | 40.00 | |||
| LCII | 1.91 | (0.30) | 0.00 | (0.09) | 0.00 | 3.13 | 13.55 | |||
| MCFT | 1.81 | (0.08) | (0.01) | 0.02 | 2.50 | 3.73 | 12.10 | |||
| WGO | 1.49 | (0.21) | 0.00 | (0.08) | 0.00 | 2.66 | 11.01 | |||
| MBUU | 2.36 | (0.67) | 0.00 | (0.20) | 0.00 | 3.62 | 20.87 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Callaway Golf without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Callaway Golf Corporate Management
Elected by the shareholders, the Callaway Golf's board of directors comprises two types of representatives: Callaway Golf inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Callaway. The board's role is to monitor Callaway Golf's management team and ensure that shareholders' interests are well served. Callaway Golf's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Callaway Golf's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Glenn Hickey | Executive Golf | 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 | |
| Jennifer Thomas | Senior Officer | Profile |
Already Invested in Callaway Golf?
The danger of trading Callaway Golf is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Callaway Golf is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Callaway Golf. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Callaway Golf is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Callaway Golf is a strong investment it is important to analyze Callaway Golf's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Callaway Golf's future performance. For an informed investment choice regarding Callaway Stock, refer to the following important reports: 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 tightly coupled 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.Note that the Callaway Golf information on this page should be used as a complementary analysis to other Callaway Golf's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
Complementary Tools for Callaway Stock analysis
When running Callaway Golf's price analysis, check to measure Callaway Golf's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Callaway Golf is operating at the current time. Most of Callaway Golf's value examination focuses on studying past and present price action to predict the probability of Callaway Golf's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Callaway Golf's price. Additionally, you may evaluate how the addition of Callaway Golf to your portfolios can decrease your overall portfolio volatility.
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Is Callaway Golf's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Callaway Golf. If investors know Callaway will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Callaway Golf listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.22) | Earnings Share 0.5 | Revenue Per Share 23.161 | Quarterly Revenue Growth 0.054 | Return On Assets 0.0176 |
The market value of Callaway Golf is measured differently than its book value, which is the value of Callaway that is recorded on the company's balance sheet. Investors also form their own opinion of Callaway Golf's value that differs from its market value or its book value, called intrinsic value, which is Callaway Golf's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Callaway Golf's market value can be influenced by many factors that don't directly affect Callaway Golf's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Callaway Golf's value and its price as these two are different measures arrived at by different means. Investors typically determine if Callaway Golf is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Callaway Golf's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.