CALY vs MDRR: Correlation
Measured on weekly returns over the past three years, Callaway Golf Company (CALY) and Medalist Diversified, Inc. (MDRR) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CALY and MDRR?
Across a 3-year window, the weekly returns of CALY and MDRR correlate at -0.18, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.19) sits close to the 3-year figure. Stretching to 5 years gives -0.06, with an annualized covariance of -278.3 %².
Among the 16 assets we track against CALY, MDRR sits near the bottom by co-movement, at rank #14. Their recent paths diverged sharply: over the last 12 months CALY outperformed by 52.8 percentage points (+57.6% for CALY against +4.8% for MDRR). One caveat on sizing: CALY is 2.0 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.
CALY vs MDRR: side by side
| CALY (Callaway Golf Company) | MDRR (Medalist Diversified, Inc.) | |
|---|---|---|
| 1-year return | +57.6% | +4.8% |
| 5-year return | -45.7% | -31.3% |
| Volatility (ann.) | 55.5% | 28.1% |
| Beta vs S&P 500 | 1.11 | -0.02 |
| Max drawdown (3Y) | -68.1% | -29.5% |
| Market cap | $2.8B | – |
| P/E (trailing) | 36.8 | 3.1 |
| Dividend yield | 0.00% | 2.21% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CALY | MDRR |
|---|---|---|
| 2022 | -28.0% | -37.3% |
| 2023 | -27.4% | -4.0% |
| 2024 | -45.2% | +28.6% |
| 2025 | +48.5% | -5.5% |
| 2026 | +32.3% | -0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CALY and MDRR good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between CALY and MDRR?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.19 over the last year and -0.06 over 5 years.
Is MDRR a good diversifier for CALY?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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.
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Related comparisons
Hubs: CALY correlations · MDRR correlations
