CAL vs SHOE: Correlation
Measured on weekly returns over the past three years, Caleres, Inc. (CAL) and Shoe Station Group, Inc. (SHOE) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAL and SHOE?
Across a 3-year window, the weekly returns of CAL and SHOE correlate at 0.67, strong. Little has changed lately, as the 1-year reading of 0.74 lands near the 3-year figure. Stretching to 5 years gives 0.66, with an annualized covariance of 1624.6 %².
In CAL's tracked universe of 16 assets, SHOE sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months CAL outperformed by 17.3 percentage points (-17.4% for CAL against -34.7% for SHOE).
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.
CAL vs SHOE: side by side
| CAL (Caleres, Inc.) | SHOE (Shoe Station Group, Inc.) | |
|---|---|---|
| 1-year return | -17.4% | -34.7% |
| 5-year return | -45.9% | -59.3% |
| Volatility (ann.) | 55.9% | 43.2% |
| Beta vs S&P 500 | 1.37 | 1.24 |
| Max drawdown (3Y) | -79.4% | -68.0% |
| Market cap | $0.4B | $0.4B |
| P/E (trailing) | – | 10.3 |
| Dividend yield | 2.14% | 4.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAL | SHOE |
|---|---|---|
| 2022 | -0.6% | -38.0% |
| 2023 | +39.4% | +28.5% |
| 2024 | -23.9% | +11.2% |
| 2025 | -46.4% | -47.6% |
| 2026 | +4.2% | -15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAL and SHOE good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CAL and SHOE?
The CAL/SHOE correlation stands at 0.67 on a 3-year window (1 year: 0.74, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is SHOE a good diversifier for CAL?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cal-vs-shoe.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cal-vs-shoe/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CAL correlations · SHOE correlations
