CCL vs OSW: Correlation
Measured on weekly returns over the past three years, Carnival Corporation (CCL) and OneSpaWorld Holdings Limited (OSW) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCL and OSW?
Over the past 3 years, CCL and OSW moved with a correlation of 0.54, which is moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.54 over 3. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 778.8 %².
By 3-year correlation, OSW places #19 of the 40 assets tracked against CCL. Correlation aside, the last 12 months split them widely, with OSW ahead by 36.8 points (-21.6% versus +15.2%).
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.
CCL vs OSW: side by side
| CCL (Carnival Corporation) | OSW (OneSpaWorld Holdings Limited) | |
|---|---|---|
| 1-year return | -21.6% | +15.2% |
| 5-year return | +7.3% | +153.8% |
| Volatility (ann.) | 46.5% | 31.3% |
| Beta vs S&P 500 | 1.72 | 0.89 |
| Max drawdown (3Y) | -42.3% | -34.6% |
| Market cap | $34.2B | $2.7B |
| P/E (trailing) | 11.5 | 33.1 |
| Dividend yield | 1.17% | 0.72% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | CCL | OSW |
|---|---|---|
| 2022 | -59.9% | -6.9% |
| 2023 | +130.0% | +51.1% |
| 2024 | +34.4% | +41.8% |
| 2025 | +22.6% | +5.1% |
| 2026 | -17.0% | +27.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCL and OSW good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CCL and OSW?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.52 over the last year and 0.52 over 5 years.
Is OSW a good diversifier for CCL?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 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/ccl-vs-osw.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ccl-vs-osw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CCL correlations · OSW correlations
