CMG vs DXCM: Correlation
Measured on weekly returns over the past three years, Chipotle Mexican Grill (CMG) and Dexcom (DXCM) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMG and DXCM?
Across a 3-year window, the weekly returns of CMG and DXCM correlate at 0.37, moderate. The past 12 months show a tighter link (0.59) than the 3-year average (0.37). Stretching to 5 years gives 0.32, with an annualized covariance of 612.1 %².
By 3-year correlation, DXCM places #18 of the 36 assets tracked against CMG. The last year tells two different stories: DXCM led by 29.6 percentage points, -12.7% for CMG against +16.9% for DXCM. The relationship is regime-dependent: the rolling one-year correlation swung between -0.02 and 0.60 over the past three years, so this pair behaves very differently depending on the market environment.
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.
CMG vs DXCM: side by side
| CMG (Chipotle Mexican Grill) | DXCM (Dexcom) | |
|---|---|---|
| 1-year return | -12.7% | +16.9% |
| 5-year return | -2.9% | -31.5% |
| Volatility (ann.) | 35.7% | 46.7% |
| Beta vs S&P 500 | 0.89 | 1.02 |
| Max drawdown (3Y) | -58.9% | -61.0% |
| Market cap | $47.1B | $33.7B |
| P/E (trailing) | 34.5 | 35.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | Health Care |
Year-by-year returns
| Year | CMG | DXCM |
|---|---|---|
| 2022 | -20.6% | -15.6% |
| 2023 | +64.8% | +9.6% |
| 2024 | +31.8% | -37.3% |
| 2025 | -38.6% | -14.7% |
| 2026 | +0.6% | +34.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMG and DXCM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CMG and DXCM?
The CMG/DXCM correlation stands at 0.37 on a 3-year window (1 year: 0.59, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is DXCM a good diversifier for CMG?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 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/cmg-vs-dxcm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cmg-vs-dxcm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CMG correlations · DXCM correlations
