CALY vs MCFT: Correlation
How closely do Callaway Golf Company (CALY) and MasterCraft Boat Holdings, Inc. (MCFT) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CALY and MCFT?
Across a 3-year window, the weekly returns of CALY and MCFT correlate at 0.48, moderate. The past 12 months show a tighter link (0.59) than the 3-year average (0.48). Stretching to 5 years gives 0.48, with an annualized covariance of 1041.0 %².
Among the 16 assets we track against CALY, MCFT ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CALY outperformed by 52.0 percentage points (+57.6% for CALY against +5.6% for MCFT).
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.
CALY vs MCFT: side by side
| CALY (Callaway Golf Company) | MCFT (MasterCraft Boat Holdings, Inc.) | |
|---|---|---|
| 1-year return | +57.6% | +5.6% |
| 5-year return | -45.7% | -7.0% |
| Volatility (ann.) | 55.5% | 39.1% |
| Beta vs S&P 500 | 1.11 | 1.03 |
| Max drawdown (3Y) | -68.1% | -41.1% |
| Market cap | $2.8B | $0.6B |
| P/E (trailing) | 36.8 | 36.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CALY | MCFT |
|---|---|---|
| 2022 | -28.0% | -8.7% |
| 2023 | -27.4% | -12.5% |
| 2024 | -45.2% | -15.8% |
| 2025 | +48.5% | -0.8% |
| 2026 | +32.3% | +27.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CALY and MCFT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CALY and MCFT?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.59 over the last year and 0.48 over 5 years.
Is MCFT a good diversifier for CALY?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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/caly-vs-mcft.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/caly-vs-mcft/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CALY correlations · MCFT correlations
