AAP vs CWH: Correlation
Measured on weekly returns over the past three years, Advance Auto Parts Inc. (AAP) and Camping World Holdings, Inc. (CWH) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAP and CWH?
On 3 years of weekly data the AAP/CWH correlation comes out at 0.37, moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. The 5-year figure is 0.37, and annualized covariance runs at 1284.2 %².
Among the 11 assets we track against AAP, CWH ranks #4 by 3-year correlation. The last year tells two different stories: AAP led by 36.3 percentage points, -26.7% for AAP against -63.0% for CWH.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AAP vs CWH: side by side
| AAP (Advance Auto Parts Inc.) | CWH (Camping World Holdings, Inc.) | |
|---|---|---|
| 1-year return | -26.7% | -63.0% |
| 5-year return | -75.5% | -79.9% |
| Volatility (ann.) | 57.4% | 60.7% |
| Beta vs S&P 500 | 0.80 | 2.02 |
| Max drawdown (3Y) | -64.2% | -79.1% |
| Market cap | – | $0.4B |
| P/E (trailing) | 24.7 | – |
| Dividend yield | 2.27% | 3.84% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AAP | CWH |
|---|---|---|
| 2022 | -36.5% | -39.6% |
| 2023 | -57.6% | +25.1% |
| 2024 | -21.1% | -17.9% |
| 2025 | -15.0% | -52.2% |
| 2026 | +12.8% | -33.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAP and CWH good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AAP and CWH?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.46 over the last year and 0.37 over 5 years.
Is CWH a good diversifier for AAP?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aap-vs-cwh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aap-vs-cwh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AAP correlations · CWH correlations
