BAP vs CWH: Correlation
Measured on weekly returns over the past three years, Credicorp Ltd. (BAP) and Camping World Holdings, Inc. (CWH) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAP and CWH?
Across a 3-year window, the weekly returns of BAP and CWH correlate at 0.49, moderate. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. Stretching to 5 years gives 0.37, with an annualized covariance of 776.1 %².
Within BAP's tracked universe of 11 assets, CWH comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BAP outperformed by 117.9 percentage points (+54.9% for BAP against -63.0% for CWH). One caveat on sizing: CWH is 2.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BAP vs CWH: side by side
| BAP (Credicorp Ltd.) | CWH (Camping World Holdings, Inc.) | |
|---|---|---|
| 1-year return | +54.9% | -63.0% |
| 5-year return | +370.8% | -79.9% |
| Volatility (ann.) | 26.1% | 60.7% |
| Beta vs S&P 500 | 0.55 | 2.02 |
| Max drawdown (3Y) | -20.0% | -79.1% |
| Market cap | $29.6B | $0.4B |
| P/E (trailing) | 14.1 | – |
| Dividend yield | 13.07% | 3.84% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BAP | CWH |
|---|---|---|
| 2022 | +14.6% | -39.6% |
| 2023 | +16.3% | +25.1% |
| 2024 | +31.4% | -17.9% |
| 2025 | +65.4% | -52.2% |
| 2026 | +36.2% | -33.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAP and CWH good diversifiers for each other?
Reasonably. At 0.49, BAP and CWH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BAP and CWH?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.54 over the last year and 0.37 over 5 years.
Is CWH a good diversifier for BAP?
Reasonably. At 0.49, BAP and CWH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bap-vs-cwh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bap-vs-cwh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BAP correlations · CWH correlations
