AEP vs CMG: Correlation
American Electric Power (AEP) and Chipotle Mexican Grill (CMG) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEP and CMG?
Over the past 3 years, AEP and CMG moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. Over 5 years the correlation is -0.04, and the annualized covariance of weekly returns is -141.3 %².
By 3-year correlation, CMG places #23 of the 36 assets tracked against AEP. Their recent paths diverged sharply: over the last 12 months AEP outperformed by 24.8 percentage points (+12.1% for AEP against -12.7% for CMG). The rolling one-year correlation moved between -0.34 and 0.14 over the past three years, a moderate range. Risk is not evenly split, since CMG carries 1.9 times the volatility of the other side.
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.
AEP vs CMG: side by side
| AEP (American Electric Power) | CMG (Chipotle Mexican Grill) | |
|---|---|---|
| 1-year return | +12.1% | -12.7% |
| 5-year return | +63.9% | -2.9% |
| Volatility (ann.) | 18.9% | 35.7% |
| Beta vs S&P 500 | -0.01 | 0.89 |
| Max drawdown (3Y) | -13.1% | -58.9% |
| Market cap | $66.8B | $47.1B |
| P/E (trailing) | 21.4 | 34.5 |
| Dividend yield | 3.06% | 0.00% |
| Sector / category | Utilities | Consumer Discretionary |
Year-by-year returns
| Year | AEP | CMG |
|---|---|---|
| 2022 | +10.4% | -20.6% |
| 2023 | -11.0% | +64.8% |
| 2024 | +18.2% | +31.8% |
| 2025 | +29.4% | -38.6% |
| 2026 | +8.9% | +0.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEP and CMG good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AEP and CMG?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.28 over the last year and -0.04 over 5 years.
Is CMG a good diversifier for AEP?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
A reading of -0.21 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aep-vs-cmg.json
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Related comparisons
Hubs: AEP correlations · CMG correlations
