CMG vs SBUX: Correlation
How closely do Chipotle Mexican Grill (CMG) and Starbucks (SBUX) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMG and SBUX?
On 3 years of weekly data the CMG/SBUX correlation comes out at 0.33, moderate. The link has tightened recently: the 1-year correlation (0.50) runs above the 3-year figure (0.33). The 5-year figure is 0.37, and annualized covariance runs at 401.9 %².
By 3-year correlation, SBUX places #23 of the 36 assets tracked against CMG. The last year tells two different stories: SBUX led by 38.2 percentage points, -12.7% for CMG against +25.5% for SBUX. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.01 to 0.56.
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 SBUX: side by side
| CMG (Chipotle Mexican Grill) | SBUX (Starbucks) | |
|---|---|---|
| 1-year return | -12.7% | +25.5% |
| 5-year return | -2.9% | +4.5% |
| Volatility (ann.) | 35.7% | 34.2% |
| Beta vs S&P 500 | 0.89 | 1.10 |
| Max drawdown (3Y) | -58.9% | -32.0% |
| Market cap | $47.1B | $122.3B |
| P/E (trailing) | 34.5 | 62.7 |
| Dividend yield | 0.00% | 2.29% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | CMG | SBUX |
|---|---|---|
| 2022 | -20.6% | -13.2% |
| 2023 | +64.8% | -1.2% |
| 2024 | +31.8% | -2.5% |
| 2025 | -38.6% | -5.3% |
| 2026 | +0.6% | +29.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMG and SBUX good diversifiers for each other?
Reasonably. At 0.33, CMG and SBUX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CMG and SBUX?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.50 over the last year and 0.37 over 5 years.
Is SBUX a good diversifier for CMG?
Reasonably. At 0.33, CMG and SBUX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 mean?
A reading of 0.33 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cmg-vs-sbux.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cmg-vs-sbux/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CMG correlations · SBUX correlations
