CMG vs EPOW: Correlation
Measured on weekly returns over the past three years, Chipotle Mexican Grill (CMG) and E-Power Inc. - Class A (EPOW) 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 CMG and EPOW?
Across a 3-year window, the weekly returns of CMG and EPOW correlate at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.33) than the 3-year average (-0.22). Stretching to 5 years gives -0.04, with an annualized covariance of -580.2 %².
Within CMG's tracked universe of 36 assets, EPOW comes in at #29 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CMG outperformed by 37.2 percentage points (-12.7% for CMG against -49.9% for EPOW). Note the risk asymmetry: EPOW runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 EPOW: side by side
| CMG (Chipotle Mexican Grill) | EPOW (E-Power Inc. - Class A) | |
|---|---|---|
| 1-year return | -12.7% | -49.9% |
| 5-year return | -2.9% | -81.9% |
| Volatility (ann.) | 35.7% | 75.1% |
| Beta vs S&P 500 | 0.89 | 0.06 |
| Max drawdown (3Y) | -58.9% | -80.3% |
| Market cap | $47.1B | – |
| P/E (trailing) | 34.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | CMG | EPOW |
|---|---|---|
| 2022 | -20.6% | +135.3% |
| 2023 | +64.8% | -60.4% |
| 2024 | +31.8% | -20.0% |
| 2025 | -38.6% | +13.4% |
| 2026 | +0.6% | -54.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMG and EPOW good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CMG and EPOW?
As of 2026-08-27, the correlation of weekly returns between CMG and EPOW is -0.22 over 3 years, -0.33 over 1 year and -0.04 over 5 years.
Is EPOW a good diversifier for CMG?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 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.
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Related comparisons
Hubs: CMG correlations · EPOW correlations
