CMG vs EAT: Correlation
How closely do Chipotle Mexican Grill (CMG) and Brinker International, Inc. (EAT) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMG and EAT?
Across a 3-year window, the weekly returns of CMG and EAT correlate at 0.43, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.53 versus 0.43 over 3 years. Stretching to 5 years gives 0.44, with an annualized covariance of 714.2 %².
Among the 36 assets we track against CMG, EAT ranks #10 by 3-year correlation. The last year tells two different stories: EAT led by 62.1 percentage points, -12.7% for CMG against +49.4% for EAT.
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 EAT: side by side
| CMG (Chipotle Mexican Grill) | EAT (Brinker International, Inc.) | |
|---|---|---|
| 1-year return | -12.7% | +49.4% |
| 5-year return | -2.9% | +347.9% |
| Volatility (ann.) | 35.7% | 47.1% |
| Beta vs S&P 500 | 0.89 | 0.67 |
| Max drawdown (3Y) | -58.9% | -45.9% |
| Market cap | $47.1B | $10.0B |
| P/E (trailing) | 34.5 | 21.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | CMG | EAT |
|---|---|---|
| 2022 | -20.6% | -12.8% |
| 2023 | +64.8% | +35.3% |
| 2024 | +31.8% | +206.4% |
| 2025 | -38.6% | +8.5% |
| 2026 | +0.6% | +62.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMG and EAT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CMG and EAT?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.53 over the last year and 0.44 over 5 years.
Is EAT a good diversifier for CMG?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 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/cmg-vs-eat.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cmg-vs-eat/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CMG correlations · EAT correlations
