CCL drawdown: 63.4% below the all-time high
Carnival Corporation Ltd. (CCL) is 63.4% below its all-time high, set Jan 29, 2018 (as of market close, Jul 24, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (1989).
- Below all-time high
- −63.4%
- 36.6% of ATH
- All-time high
- $71.94
- Jan 29, 2018
- Time below the high
- 8.5 yrs
- since Jan 29, 2018
- Worst-ever drawdown
- −91.1%
- Oct 10, 2022
- Longest underwater
- 12.2 yrs
- between all-time highs
- Today's level first reached
- Nov 28, 1997
- 28.7 yrs ago
- Last time this deep
- Mar 30, 2009
- in a previous episode
% of all-time high since 1989#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of CCL, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Jan 29, 2018 | Oct 10, 2022 | −91.1% | 4.7 yrs | not yet | 8.5 yrs+ |
| Dec 28, 2004 | Nov 20, 2008 | −74.4% | 3.9 yrs | Mar 27, 2017 | 12.2 yrs |
| Apr 12, 1999 | Sep 20, 2001 | −66.3% | 2.4 yrs | Nov 12, 2004 | 5.6 yrs |
| Aug 24, 1989 | Oct 11, 1990 | −57.7% | 14 mo | Oct 14, 1991 | 2.1 yrs |
| Jul 8, 1998 | Oct 8, 1998 | −48.4% | 3 mo | Dec 21, 1998 | 5 mo |
| Mar 10, 1992 | Oct 5, 1992 | −25.6% | 7 mo | Jan 8, 1993 | 10 mo |
| Feb 3, 1994 | Dec 9, 1994 | −25.2% | 10 mo | May 15, 1995 | 15 mo |
| Oct 18, 1991 | Nov 19, 1991 | −23.5% | 32 days | Feb 6, 1992 | 4 mo |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 1989: how far CCL stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: CCL is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ
- How far is CCL from its all-time high?
- CCL is currently 63.4% below its all-time high, set Jan 29, 2018 (as of market close, Jul 24, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest CCL drawdown ever?
- The deepest decline on record in our data (since 1989) took the stock 91.1% below its prior high, bottoming Oct 10, 2022. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 1989 (split-adjusted). "All-time" means since our price data begins — CCL may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.