CDW vs MNST: Correlation
Measured on weekly returns over the past three years, CDW Corporation (CDW) and Monster Beverage (MNST) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDW and MNST?
On 3 years of weekly data the CDW/MNST correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.33 versus -0.22 over 3 years. The 5-year figure is -0.14, and annualized covariance runs at -526.4 %².
Within CDW's tracked universe of 40 assets, MNST comes in at #34 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CDW ahead by 16.3 points (-8.0% versus -24.3%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.34 to 0.19. One caveat on sizing: MNST is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CDW vs MNST: side by side
| CDW (CDW Corporation) | MNST (Monster Beverage) | |
|---|---|---|
| 1-year return | -8.0% | -24.3% |
| 5-year return | -20.5% | -4.5% |
| Volatility (ann.) | 34.2% | 68.6% |
| Beta vs S&P 500 | 1.01 | 0.80 |
| Max drawdown (3Y) | -60.4% | -54.5% |
| Market cap | $18.6B | $91.5B |
| P/E (trailing) | 17.0 | 43.2 |
| Dividend yield | 1.78% | 0.00% |
| Sector / category | Information Technology | Consumer Staples |
Year-by-year returns
| Year | CDW | MNST |
|---|---|---|
| 2022 | -11.7% | +5.7% |
| 2023 | +28.8% | +13.5% |
| 2024 | -22.6% | -8.8% |
| 2025 | -20.6% | +45.9% |
| 2026 | +11.1% | -39.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDW and MNST good diversifiers for each other?
Yes. With a correlation of -0.22, CDW and MNST have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CDW and MNST?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.33 over the last year and -0.14 over 5 years.
Is MNST a good diversifier for CDW?
Yes. With a correlation of -0.22, CDW and MNST have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 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/cdw-vs-mnst.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cdw-vs-mnst/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CDW correlations · MNST correlations
