CAG vs T: Correlation
How closely do ConAgra Brands, Inc. (CAG) and AT&T (T) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAG and T?
Across a 3-year window, the weekly returns of CAG and T correlate at 0.38, moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. Stretching to 5 years gives 0.34, with an annualized covariance of 204.6 %².
By 3-year correlation, T places #16 of the 34 assets tracked against CAG. Twelve-month performance is nearly a tie, at -9.8% for CAG and -8.4% for T.
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.
CAG vs T: side by side
| CAG (ConAgra Brands, Inc.) | T (AT&T) | |
|---|---|---|
| 1-year return | -9.8% | -8.4% |
| 5-year return | -36.6% | +67.2% |
| Volatility (ann.) | 24.2% | 22.4% |
| Beta vs S&P 500 | -0.05 | 0.05 |
| Max drawdown (3Y) | -56.7% | -28.9% |
| Market cap | $7.7B | $174.3B |
| P/E (trailing) | – | 8.4 |
| Dividend yield | 8.65% | 4.29% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | CAG | T |
|---|---|---|
| 2022 | +17.5% | +6.5% |
| 2023 | -22.8% | -2.7% |
| 2024 | +1.5% | +44.1% |
| 2025 | -33.3% | +14.0% |
| 2026 | -2.1% | +6.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAG and T good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CAG and T?
As of 2026-08-27, the correlation of weekly returns between CAG and T is 0.38 over 3 years, 0.47 over 1 year and 0.34 over 5 years.
Is T a good diversifier for CAG?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
A reading of 0.38 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CAG correlations · T correlations
