CHEF vs STEW: Correlation
Measured on weekly returns over the past three years, The Chefs' Warehouse, Inc. (CHEF) and SRH Total Return Fund, Inc. (STEW) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHEF and STEW?
On 3 years of weekly data the CHEF/STEW correlation comes out at 0.50, moderate. The past 12 months show a weaker link (0.29) than the 3-year average (0.50). The 5-year figure is 0.46, and annualized covariance runs at 311.8 %².
By 3-year correlation, STEW places #5 of the 12 assets tracked against CHEF. Their recent paths diverged sharply: over the last 12 months CHEF outperformed by 72.5 percentage points (+77.7% for CHEF against +5.2% for STEW). One caveat on sizing: CHEF is 3.1 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.
CHEF vs STEW: side by side
| CHEF (The Chefs' Warehouse, Inc.) | STEW (SRH Total Return Fund, Inc.) | |
|---|---|---|
| 1-year return | +77.7% | +5.2% |
| 5-year return | +273.0% | +61.2% |
| Volatility (ann.) | 44.0% | 14.1% |
| Beta vs S&P 500 | 1.23 | 0.67 |
| Max drawdown (3Y) | -37.8% | -10.5% |
| Market cap | $4.5B | $1.8B |
| P/E (trailing) | 53.2 | 12.1 |
| Dividend yield | 0.00% | 3.91% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHEF | STEW |
|---|---|---|
| 2022 | -0.1% | -7.3% |
| 2023 | -11.6% | +13.5% |
| 2024 | +67.6% | +19.9% |
| 2025 | +26.4% | +20.3% |
| 2026 | +78.5% | +3.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHEF and STEW good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CHEF and STEW?
The CHEF/STEW correlation stands at 0.50 on a 3-year window (1 year: 0.29, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is STEW a good diversifier for CHEF?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 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/chef-vs-stew.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chef-vs-stew/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CHEF correlations · STEW correlations
