CMG vs FSUN: Correlation
How closely do Chipotle Mexican Grill (CMG) and FirstSun Capital Bancorp (FSUN) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMG and FSUN?
Across a 3-year window, the weekly returns of CMG and FSUN correlate at 0.41, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.52 versus 0.41 over 3 years. Stretching to 5 years gives 0.30, with an annualized covariance of 401.7 %².
Among the 36 assets we track against CMG, FSUN ranks #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FSUN ahead by 18.5 points (-12.7% versus +5.8%).
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 FSUN: side by side
| CMG (Chipotle Mexican Grill) | FSUN (FirstSun Capital Bancorp) | |
|---|---|---|
| 1-year return | -12.7% | +5.8% |
| 5-year return | -2.9% | n/a |
| Volatility (ann.) | 35.7% | 27.4% |
| Beta vs S&P 500 | 0.89 | 0.57 |
| Max drawdown (3Y) | -58.9% | -31.4% |
| Market cap | $47.1B | $1.8B |
| P/E (trailing) | 34.5 | 24.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | CMG | FSUN |
|---|---|---|
| 2022 | -20.6% | – |
| 2023 | +64.8% | -6.7% |
| 2024 | +31.8% | +17.8% |
| 2025 | -38.6% | -6.0% |
| 2026 | +0.6% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMG and FSUN 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 FSUN?
The CMG/FSUN correlation stands at 0.41 on a 3-year window (1 year: 0.52, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is FSUN 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?
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 · FSUN correlations
