CMG vs FISV: Correlation
How closely do Chipotle Mexican Grill (CMG) and Fiserv (FISV) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMG and FISV?
Across a 3-year window, the weekly returns of CMG and FISV correlate at 0.51, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.63 versus 0.51 over 3 years. Stretching to 5 years gives 0.47, with an annualized covariance of 706.5 %².
FISV is one of the assets that tracks CMG most closely: it ranks #2 out of the 36 assets we track against CMG. Their recent paths diverged sharply: over the last 12 months CMG outperformed by 49.2 percentage points (-12.7% for CMG against -61.9% for FISV). This link changes with the market regime, having swung between -0.05 and 0.75 on a rolling one-year basis.
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 FISV: side by side
| CMG (Chipotle Mexican Grill) | FISV (Fiserv) | |
|---|---|---|
| 1-year return | -12.7% | -61.9% |
| 5-year return | -2.9% | -55.0% |
| Volatility (ann.) | 35.7% | 39.2% |
| Beta vs S&P 500 | 0.89 | 0.58 |
| Max drawdown (3Y) | -58.9% | -80.2% |
| Market cap | $47.1B | $28.0B |
| P/E (trailing) | 34.5 | 10.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | Financials |
Year-by-year returns
| Year | CMG | FISV |
|---|---|---|
| 2022 | -20.6% | -2.6% |
| 2023 | +64.8% | +31.4% |
| 2024 | +31.8% | +54.6% |
| 2025 | -38.6% | -67.3% |
| 2026 | +0.6% | -21.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMG and FISV good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CMG and FISV?
The CMG/FISV correlation stands at 0.51 on a 3-year window (1 year: 0.63, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is FISV a good diversifier for CMG?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cmg-vs-fisv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cmg-vs-fisv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CMG correlations · FISV correlations
