CWH vs NWL: Correlation
Camping World Holdings, Inc. (CWH) and Newell Brands Inc. (NWL) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWH and NWL?
On 3 years of weekly data the CWH/NWL correlation comes out at 0.55, moderate. Recent behaviour matches the longer record: 0.60 over 1 year against 0.55 over 3. The 5-year figure is 0.50, and annualized covariance runs at 2092.7 %².
Within CWH's tracked universe of 28 assets, NWL comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NWL outperformed by 68.6 percentage points (-63.0% for CWH against +5.6% for NWL).
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.
CWH vs NWL: side by side
| CWH (Camping World Holdings, Inc.) | NWL (Newell Brands Inc.) | |
|---|---|---|
| 1-year return | -63.0% | +5.6% |
| 5-year return | -79.9% | -70.7% |
| Volatility (ann.) | 60.7% | 62.8% |
| Beta vs S&P 500 | 2.02 | 1.15 |
| Max drawdown (3Y) | -79.1% | -72.3% |
| Market cap | $0.4B | $2.5B |
| P/E (trailing) | – | – |
| Dividend yield | 3.84% | 4.70% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CWH | NWL |
|---|---|---|
| 2022 | -39.6% | -37.0% |
| 2023 | +25.1% | -30.9% |
| 2024 | -17.9% | +19.0% |
| 2025 | -52.2% | -60.5% |
| 2026 | -33.9% | +63.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWH and NWL good diversifiers for each other?
Only partially. A correlation of 0.55 means CWH and NWL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CWH and NWL?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.60 over the last year and 0.50 over 5 years.
Is NWL a good diversifier for CWH?
Only partially. A correlation of 0.55 means CWH and NWL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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/cwh-vs-nwl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cwh-vs-nwl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CWH correlations · NWL correlations
