CAVA vs SG: Correlation
Measured on weekly returns over the past three years, CAVA Group, Inc. (CAVA) and Sweetgreen, Inc. (SG) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAVA and SG?
Over the past 3 years, CAVA and SG moved with a correlation of 0.54, which is moderate. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 2569.4 %².
Few assets follow CAVA as closely as SG, which ranks #1 of 13 tracked partners. Their recent paths diverged sharply: over the last 12 months CAVA outperformed by 23.7 percentage points (-1.2% for CAVA against -24.9% for SG).
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.
CAVA vs SG: side by side
| CAVA (CAVA Group, Inc.) | SG (Sweetgreen, Inc.) | |
|---|---|---|
| 1-year return | -1.2% | -24.9% |
| 5-year return | n/a | -86.3% |
| Volatility (ann.) | 59.9% | 79.8% |
| Beta vs S&P 500 | 1.78 | 1.83 |
| Max drawdown (3Y) | -71.1% | -89.3% |
| Market cap | $7.8B | $0.8B |
| P/E (trailing) | 119.6 | 75.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAVA | SG |
|---|---|---|
| 2022 | – | -73.2% |
| 2023 | – | +31.9% |
| 2024 | +162.4% | +183.7% |
| 2025 | -48.0% | -78.9% |
| 2026 | +14.1% | +0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAVA and SG good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CAVA and SG?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.64 over the last year and n/a over 5 years.
Is SG a good diversifier for CAVA?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cava-vs-sg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cava-vs-sg/)
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Related comparisons
Hubs: CAVA correlations · SG correlations
