CALY vs. GOLF

Last updated Jun 4, 2026

CALY (Callaway Golf Company) and GOLF (Acushnet Holdings Corp.) are both stocks. Both operate in the Leisure industry within the Consumer Cyclical sector. Over the past 5 years, CALY returned -15.73%/yr vs 12.78%/yr for GOLF. A 0.60 correlation means they provide meaningful diversification when combined.

Performance

CALY vs. GOLF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Callaway Golf Company (CALY) and Acushnet Holdings Corp. (GOLF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CALY achieves a 28.62% return, which is significantly higher than GOLF's 10.26% return.

CALY

• 1D: -0.53%
• 1M: 5.33%
• YTD: 28.62%
• 6M: 22.93%
• 1Y: 143.27%
• 3Y*: -6.48%
• 5Y*: -15.73%
• 10Y*: 4.30%

GOLF

• 1D: -0.82%
• 1M: -6.06%
• YTD: 10.26%
• 6M: 5.34%
• 1Y: 28.07%
• 3Y*: 24.38%
• 5Y*: 12.78%
• 10Y*: —

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

CALY vs. GOLF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CALY Callaway Golf Company	28.62%	48.47%	-45.19%	-27.39%	-28.02%	14.29%	13.39%	38.88%	10.07%	27.51%
GOLF Acushnet Holdings Corp.	10.26%	14.09%	13.96%	51.02%	-18.69%	32.71%	27.13%	57.63%	2.09%	9.84%

Correlation

The correlation between CALY and GOLF is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since Oct 31, 2016	0.60

The correlation between CALY and GOLF has been stable across timeframes, ranging from 0.57 to 0.65 - a consistent structural relationship.

Fundamentals

Market Cap CALY : $3.04B GOLF : $5.27B
EPS CALY : $0.17 GOLF : $2.83
PE Ratio CALY : 86.71 GOLF : 31.06
PS Ratio CALY : 0.91 GOLF : 2.03
PB Ratio CALY : 1.43 GOLF : 6.38
Total Revenue (TTM) CALY : $3.10B GOLF : $2.61B
Gross Profit (TTM) CALY : $1.77B GOLF : $1.24B
EBITDA (TTM) CALY : $368.30M GOLF : $321.92M

Return for Risk

CALY vs. GOLF — Risk / Return Rank

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

CALY

CALY Risk / Return Rank: 91
CALY Sharpe Ratio Rank: 91
CALY Sortino Ratio Rank: 87
CALY Omega Ratio Rank: 86
CALY Calmar Ratio Rank: 95
CALY Martin Ratio Rank: 94

GOLF

GOLF Risk / Return Rank: 68
GOLF Sharpe Ratio Rank: 72
GOLF Sortino Ratio Rank: 66
GOLF Omega Ratio Rank: 63
GOLF Calmar Ratio Rank: 69
GOLF Martin Ratio Rank: 71

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.

CALY vs. GOLF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Callaway Golf Company (CALY) and Acushnet Holdings Corp. (GOLF). 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.

	CALY	GOLF	Difference
Sharpe ratio Return per unit of total volatility	2.37	1.03	+1.34
Sortino ratio Return per unit of downside risk	2.95	1.55	+1.40
Omega ratio Gain probability vs. loss probability	1.38	1.19	+0.19
Calmar ratio Return relative to maximum drawdown	7.08	1.57	+5.50
Martin ratio Return relative to average drawdown	16.97	4.08	+12.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CALY vs. GOLF - Sharpe Ratio Comparison

The current CALY Sharpe Ratio is 2.37, which is higher than the GOLF Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of CALY and GOLF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CALY	GOLF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	1.03	+1.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.31	0.41	-0.72
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.09	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.64	-0.54

Drawdowns

CALY vs. GOLF - Drawdown Comparison

The maximum CALY drawdown since its inception was -85.06%, which is greater than GOLF's maximum drawdown of -35.46%. Use the drawdown chart below to compare losses from any high point for CALY and GOLF.

Drawdown Indicators

	CALY	GOLF	Difference
Max Drawdown Largest peak-to-trough decline	-85.06%	-35.46%	-49.60%
Max Drawdown (1Y) Largest decline over 1 year	-20.37%	-17.93%	-2.44%
Max Drawdown (3Y) Largest decline over 3 years	-72.76%	-25.49%	-47.27%
Max Drawdown (5Y) Largest decline over 5 years	-84.71%	-33.37%	-51.34%
Max Drawdown (10Y) Largest decline over 10 years	-85.06%	—	—
Current Drawdown Current decline from peak	-59.75%	-14.79%	-44.96%
Average Drawdown Average peak-to-trough decline	-50.37%	-9.38%	-40.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.48%	6.89%	+1.59%

Volatility

CALY vs. GOLF - Volatility Comparison

Callaway Golf Company (CALY) has a higher volatility of 21.15% compared to Acushnet Holdings Corp. (GOLF) at 12.28%. This indicates that CALY's price experiences larger fluctuations and is considered to be riskier than GOLF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CALY	GOLF	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.15%	12.28%	+8.87%
Volatility (6M) Calculated over the trailing 6-month period	37.83%	19.94%	+17.89%
Volatility (1Y) Calculated over the trailing 1-year period	60.81%	27.44%	+33.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.02%	31.16%	+19.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.46%	31.36%	+18.10%

Dividends

CALY vs. GOLF - Dividend Comparison

CALY has not paid dividends to shareholders, while GOLF's dividend yield for the trailing twelve months is around 1.38%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CALY Callaway Golf Company	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.08%	0.19%	0.26%	0.29%	0.36%	0.42%
GOLF Acushnet Holdings Corp.	1.38%	1.49%	1.21%	1.23%	1.70%	1.24%	1.53%	1.72%	2.47%	2.28%	0.00%	0.00%

Financials

CALY vs. GOLF - Profitability Comparison

The chart below illustrates the profitability comparison between Callaway Golf Company and Acushnet Holdings Corp. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CALY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Callaway Golf Company reported a gross profit of 326.70M and revenue of 687.50M. Therefore, the gross margin over that period was 47.5%.

GOLF - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Acushnet Holdings Corp. reported a gross profit of 355.26M and revenue of 752.98M. Therefore, the gross margin over that period was 47.2%.

CALY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Callaway Golf Company reported an operating income of 138.20M and revenue of 687.50M, resulting in an operating margin of 20.1%.

GOLF - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Acushnet Holdings Corp. reported an operating income of 120.15M and revenue of 752.98M, resulting in an operating margin of 16.0%.

CALY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Callaway Golf Company reported a net income of 93.10M and revenue of 687.50M, resulting in a net margin of 13.5%.

GOLF - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Acushnet Holdings Corp. reported a net income of 81.42M and revenue of 752.98M, resulting in a net margin of 10.8%.

Frequently Asked Questions

Can I hold both CALY and GOLF in my portfolio?

CALY and GOLF have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CALY or GOLF?

CALY has higher volatility (21.15%) compared to GOLF (12.28%). In terms of maximum drawdown, CALY dropped -85.06% vs GOLF's -35.46%.

Which has better risk-adjusted returns?

CALY currently has the higher Sharpe Ratio (2.37 vs 1.03), 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.