CMG vs FOUR: Correlation
Chipotle Mexican Grill (CMG) and Shift4 Payments, Inc. (FOUR) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMG and FOUR?
Across a 3-year window, the weekly returns of CMG and FOUR correlate at 0.41, moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. Stretching to 5 years gives 0.48, with an annualized covariance of 771.6 %².
Within CMG's tracked universe of 36 assets, FOUR comes in at #14 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CMG outperformed by 38.6 percentage points (-12.7% for CMG against -51.3% for FOUR).
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 FOUR: side by side
| CMG (Chipotle Mexican Grill) | FOUR (Shift4 Payments, Inc.) | |
|---|---|---|
| 1-year return | -12.7% | -51.3% |
| 5-year return | -2.9% | -48.7% |
| Volatility (ann.) | 35.7% | 52.8% |
| Beta vs S&P 500 | 0.89 | 1.43 |
| Max drawdown (3Y) | -58.9% | -71.6% |
| Market cap | $47.1B | $3.5B |
| P/E (trailing) | 34.5 | 68.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | CMG | FOUR |
|---|---|---|
| 2022 | -20.6% | -3.5% |
| 2023 | +64.8% | +32.9% |
| 2024 | +31.8% | +39.6% |
| 2025 | -38.6% | -39.3% |
| 2026 | +0.6% | -30.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMG and FOUR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CMG and FOUR?
The CMG/FOUR correlation stands at 0.41 on a 3-year window (1 year: 0.50, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is FOUR a good diversifier for CMG?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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.
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Related comparisons
Hubs: CMG correlations · FOUR correlations
