CHGG vs CWH: Correlation
Measured on weekly returns over the past three years, Chegg, Inc. (CHGG) and Camping World Holdings, Inc. (CWH) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHGG and CWH?
Over the past 3 years, CHGG and CWH moved with a correlation of 0.43, which is moderate. Recent behaviour matches the longer record: 0.38 over 1 year against 0.43 over 3. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 2565.5 %².
Among the 10 assets we track against CHGG, CWH ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CHGG outperformed by 23.7 percentage points (-39.3% for CHGG against -63.0% for CWH). One caveat on sizing: CHGG is 1.6 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.
CHGG vs CWH: side by side
| CHGG (Chegg, Inc.) | CWH (Camping World Holdings, Inc.) | |
|---|---|---|
| 1-year return | -39.3% | -63.0% |
| 5-year return | -99.0% | -79.9% |
| Volatility (ann.) | 97.4% | 60.7% |
| Beta vs S&P 500 | 1.77 | 2.02 |
| Max drawdown (3Y) | -96.1% | -79.1% |
| Market cap | $0.1B | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 3.84% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHGG | CWH |
|---|---|---|
| 2022 | -17.7% | -39.6% |
| 2023 | -55.0% | +25.1% |
| 2024 | -85.8% | -17.9% |
| 2025 | -42.2% | -52.2% |
| 2026 | -13.8% | -33.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHGG and CWH good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CHGG and CWH?
The CHGG/CWH correlation stands at 0.43 on a 3-year window (1 year: 0.38, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is CWH a good diversifier for CHGG?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 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/chgg-vs-cwh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chgg-vs-cwh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CHGG correlations · CWH correlations
