At the Democratic convention, Thomas Marshall declines renomination for VP, and Gov. Cox of Ohio is selected in his place. Wilson campaigns on joining the League and rebuilding after the war. Wilson's approvals are low, with a sour economy and a nation wanting to turn towards home. Roosevelt remains popular, and the conservatives in his party are generally willing to back him once he presents Harding as his preferred choice for running mate. Some see both major party candidates as too interested in foreign adventure, which helps the minor third party candidates (esp. Christensen) - but not enough and not where Wilson would need it to win any states outside the South, and the result is a 2:1 ratio in the popular vote in favor of TR.
Theodore Roosevelt (R-NY)/ Warren Harding (R-OH) 60.8% 417
Woodrow Wilson (D-NJ)/ James Cox (D-OH) 31.1% 114
Eugene Debs (S-IN)/ Seymour Stedman (S-IL) 3.4%
Parley Christensen (FL-IL)/ Max Hayes (FL-OH) 2.5%
others 2.2%
Pretty much this^ There was really no way that Woodrow Wilson would have won if he ran in 1920.
