CAKE vs. FUN

Last updated Jun 13, 2026

CAKE (The Cheesecake Factory Incorporated) and FUN (Cedar Fair, L.P.) are both stocks. Both are in the Consumer Cyclical sector — CAKE in Restaurants, FUN in Leisure. Over the past 10 years, CAKE returned 6.31%/yr vs -5.82%/yr for FUN. At a 0.23 correlation, their price movements are largely independent.

Performance

CAKE vs. FUN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Cheesecake Factory Incorporated (CAKE) and Cedar Fair, L.P. (FUN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with CAKE having a 50.58% return and FUN slightly higher at 52.80%. Over the past 10 years, CAKE has outperformed FUN with an annualized return of 6.31%, while FUN has yielded a comparatively lower -5.82% annualized return.

CAKE

• 1D: 0.40%
• 1M: 26.54%
• YTD: 50.58%
• 6M: 52.45%
• 1Y: 34.66%
• 3Y*: 33.20%
• 5Y*: 8.52%
• 10Y*: 6.31%

FUN

• 1D: -3.90%
• 1M: 9.94%
• YTD: 52.80%
• 6M: 57.21%
• 1Y: -21.53%
• 3Y*: -16.99%
• 5Y*: -11.16%
• 10Y*: -5.82%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CAKE vs. FUN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CAKE The Cheesecake Factory Incorporated	50.58%	8.61%	39.33%	14.01%	-17.02%	5.64%	-3.53%	-7.82%	-7.44%	-17.83%
FUN Cedar Fair, L.P.	52.80%	-68.17%	26.39%	-0.96%	-16.23%	27.25%	-27.49%	25.65%	-22.66%	6.45%

Correlation

The correlation between CAKE and FUN is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Sep 18, 1992	0.23

The correlation between CAKE and FUN shifts across timeframes, from 0.23 (all time) to 0.39 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS CAKE : $2.39 FUN : -$16.06
PS Ratio CAKE : 1.39 FUN : 0.82
Total Revenue (TTM) CAKE : $1.96B FUN : $2.90B
Gross Profit (TTM) CAKE : $1.54B FUN : $1.59B
EBITDA (TTM) CAKE : $161.36M FUN : -$733.45M

Return for Risk

CAKE vs. FUN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CAKE

CAKE Risk / Return Rank: 64
CAKE Sharpe Ratio Rank: 71
CAKE Sortino Ratio Rank: 65
CAKE Omega Ratio Rank: 63
CAKE Calmar Ratio Rank: 61
CAKE Martin Ratio Rank: 62

FUN

FUN Risk / Return Rank: 28
FUN Sharpe Ratio Rank: 26
FUN Sortino Ratio Rank: 28
FUN Omega Ratio Rank: 28
FUN Calmar Ratio Rank: 28
FUN Martin Ratio Rank: 31

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CAKE vs. FUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Cheesecake Factory Incorporated (CAKE) and Cedar Fair, L.P. (FUN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CAKE	FUN	Difference
Sharpe ratio: Return per unit of total volatility	0.89	-0.39	+1.28
Sortino ratio: Return per unit of downside risk	1.39	-0.17	+1.55
Omega ratio: Gain probability vs. loss probability	1.17	0.98	+0.19
Calmar ratio: Return relative to maximum drawdown	0.84	-0.43	+1.28
Martin ratio: Return relative to average drawdown	1.86	-0.66	+2.52

CAKE vs. FUN - Sharpe Ratio Comparison

The current CAKE Sharpe Ratio is 0.89, which is higher than the FUN Sharpe Ratio of -0.39. The chart below compares the historical Sharpe Ratios of CAKE and FUN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CAKE vs. FUN - Drawdown Comparison

The maximum CAKE drawdown since its inception was -86.17%, which is greater than FUN's maximum drawdown of -77.75%. Use the drawdown chart below to compare losses from any high point for CAKE and FUN.

Drawdown Indicators

	CAKE	FUN	Difference
Max Drawdown Largest peak-to-trough decline	-86.17%	-77.75%	-8.42%
Max Drawdown (1Y) Largest decline over 1 year	-36.39%	-61.05%	+24.66%
Max Drawdown (3Y) Largest decline over 3 years	-36.39%	-77.74%	+41.35%
Max Drawdown (5Y) Largest decline over 5 years	-52.48%	-77.74%	+25.26%
Max Drawdown (10Y) Largest decline over 10 years	-75.50%	-77.75%	+2.25%
Current Drawdown Current decline from peak	0.00%	-59.33%	+59.33%
Average Drawdown Average peak-to-trough decline	-22.82%	-19.87%	-2.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.53%	39.79%	-23.26%

Volatility

CAKE vs. FUN - Volatility Comparison

The current volatility for The Cheesecake Factory Incorporated (CAKE) is 10.45%, while Cedar Fair, L.P. (FUN) has a volatility of 15.26%. This indicates that CAKE experiences smaller price fluctuations and is considered to be less risky than FUN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAKE	FUN	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.45%	15.26%	-4.81%
Volatility (6M) Calculated over the trailing 6-month period	26.48%	44.94%	-18.46%
Volatility (1Y) Calculated over the trailing 1-year period	34.74%	66.85%	-32.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.15%	44.02%	-3.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.49%	45.15%	-0.66%

Dividends

CAKE vs. FUN - Dividend Comparison

CAKE's dividend yield for the trailing twelve months is around 1.51%, while FUN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAKE The Cheesecake Factory Incorporated	1.51%	2.14%	2.28%	3.08%	2.55%	0.00%	0.97%	3.55%	2.85%	2.20%	1.47%	1.58%
FUN Cedar Fair, L.P.	0.00%	0.00%	4.42%	3.02%	1.45%	0.00%	2.38%	6.69%	7.60%	5.32%	5.19%	5.51%

Financials

Frequently Asked Questions

Can I hold both CAKE and FUN in my portfolio?

CAKE and FUN have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CAKE or FUN?

FUN has higher volatility (15.26%) compared to CAKE (10.45%). In terms of maximum drawdown, CAKE dropped -86.17% vs FUN's -77.75%.

Which has better risk-adjusted returns?

CAKE currently has the higher Sharpe Ratio (0.89 vs -0.39), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.