CAVA vs SHAK: Correlation
CAVA Group, Inc. (CAVA) and Shake Shack, Inc. (SHAK) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAVA and SHAK?
On 3 years of weekly data the CAVA/SHAK correlation comes out at 0.48, moderate. Little has changed lately, as the 1-year reading of 0.54 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 1477.2 %².
Among the 13 assets we track against CAVA, SHAK ranks #6 by 3-year correlation. The last year tells two different stories: CAVA led by 32.7 percentage points, -1.2% for CAVA against -33.9% for SHAK.
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 SHAK: side by side
| CAVA (CAVA Group, Inc.) | SHAK (Shake Shack, Inc.) | |
|---|---|---|
| 1-year return | -1.2% | -33.9% |
| 5-year return | n/a | -18.1% |
| Volatility (ann.) | 59.9% | 51.5% |
| Beta vs S&P 500 | 1.78 | 1.42 |
| Max drawdown (3Y) | -71.1% | -63.1% |
| Market cap | $7.8B | $3.0B |
| P/E (trailing) | 119.6 | 76.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAVA | SHAK |
|---|---|---|
| 2022 | – | -42.4% |
| 2023 | – | +78.5% |
| 2024 | +162.4% | +75.1% |
| 2025 | -48.0% | -37.5% |
| 2026 | +14.1% | -13.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAVA and SHAK good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CAVA and SHAK?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.54 over the last year and n/a over 5 years.
Is SHAK a good diversifier for CAVA?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: CAVA correlations · SHAK correlations
