CWH vs TGT: Correlation
Camping World Holdings, Inc. (CWH) and Target Corporation (TGT) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWH and TGT?
On 3 years of weekly data the CWH/TGT correlation comes out at 0.51, moderate. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. The 5-year figure is 0.45, and annualized covariance runs at 983.2 %².
By 3-year correlation, TGT places #15 of the 28 assets tracked against CWH. The last year tells two different stories: TGT led by 139.2 percentage points, -63.0% for CWH against +76.2% for TGT. One caveat on sizing: CWH is 1.9 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.
CWH vs TGT: side by side
| CWH (Camping World Holdings, Inc.) | TGT (Target Corporation) | |
|---|---|---|
| 1-year return | -63.0% | +76.2% |
| 5-year return | -79.9% | -22.2% |
| Volatility (ann.) | 60.7% | 32.0% |
| Beta vs S&P 500 | 2.02 | 0.62 |
| Max drawdown (3Y) | -79.1% | -49.8% |
| Market cap | $0.4B | $75.4B |
| P/E (trailing) | – | 17.2 |
| Dividend yield | 3.84% | 2.78% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | CWH | TGT |
|---|---|---|
| 2022 | -39.6% | -34.2% |
| 2023 | +25.1% | -1.4% |
| 2024 | -17.9% | -2.3% |
| 2025 | -52.2% | -24.5% |
| 2026 | -33.9% | +74.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWH and TGT good diversifiers for each other?
Only partially. A correlation of 0.51 means CWH and TGT 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 TGT?
The CWH/TGT correlation stands at 0.51 on a 3-year window (1 year: 0.54, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is TGT a good diversifier for CWH?
Only partially. A correlation of 0.51 means CWH and TGT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 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.
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Related comparisons
Hubs: CWH correlations · TGT correlations
