CMG vs HLT: Correlation
How closely do Chipotle Mexican Grill (CMG) and Hilton Worldwide (HLT) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMG and HLT?
Across a 3-year window, the weekly returns of CMG and HLT correlate at 0.36, moderate. The relationship has been stable: the 1-year correlation (0.27) sits close to the 3-year figure. Stretching to 5 years gives 0.44, with an annualized covariance of 264.3 %².
Among the 36 assets we track against CMG, HLT ranks #19 by 3-year correlation. The last year tells two different stories: HLT led by 30.8 percentage points, -12.7% for CMG against +18.1% for HLT. The rolling one-year correlation moved between 0.14 and 0.55 over the past three years, a moderate range. Risk is not evenly split, since CMG carries 1.7 times the volatility of the other side.
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 HLT: side by side
| CMG (Chipotle Mexican Grill) | HLT (Hilton Worldwide) | |
|---|---|---|
| 1-year return | -12.7% | +18.1% |
| 5-year return | -2.9% | +162.7% |
| Volatility (ann.) | 35.7% | 20.7% |
| Beta vs S&P 500 | 0.89 | 0.85 |
| Max drawdown (3Y) | -58.9% | -26.4% |
| Market cap | $47.1B | $73.3B |
| P/E (trailing) | 34.5 | 47.8 |
| Dividend yield | 0.00% | 0.18% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | CMG | HLT |
|---|---|---|
| 2022 | -20.6% | -18.7% |
| 2023 | +64.8% | +44.7% |
| 2024 | +31.8% | +36.1% |
| 2025 | -38.6% | +16.5% |
| 2026 | +0.6% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMG and HLT good diversifiers for each other?
Reasonably. At 0.36, CMG and HLT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CMG and HLT?
The CMG/HLT correlation stands at 0.36 on a 3-year window (1 year: 0.27, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is HLT a good diversifier for CMG?
Reasonably. At 0.36, CMG and HLT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 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 · HLT correlations
