CMG vs V: Correlation
How closely do Chipotle Mexican Grill (CMG) and Visa Inc. (V) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMG and V?
On 3 years of weekly data the CMG/V correlation comes out at 0.42, moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. The 5-year figure is 0.44, and annualized covariance runs at 287.7 %².
Within CMG's tracked universe of 36 assets, V comes in at #13 by 3-year correlation. The last year tells two different stories: V led by 21.9 percentage points, -12.7% for CMG against +9.2% for V. The rolling one-year correlation moved between 0.22 and 0.51 over the past three years, a moderate range. One caveat on sizing: CMG is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 V: side by side
| CMG (Chipotle Mexican Grill) | V (Visa Inc.) | |
|---|---|---|
| 1-year return | -12.7% | +9.2% |
| 5-year return | -2.9% | +70.5% |
| Volatility (ann.) | 35.7% | 19.1% |
| Beta vs S&P 500 | 0.89 | 0.72 |
| Max drawdown (3Y) | -58.9% | -20.4% |
| Market cap | $47.1B | $708.8B |
| P/E (trailing) | 34.5 | 32.7 |
| Dividend yield | 0.00% | 0.70% |
| Sector / category | Consumer Discretionary | Financials |
Year-by-year returns
| Year | CMG | V |
|---|---|---|
| 2022 | -20.6% | -3.4% |
| 2023 | +64.8% | +26.3% |
| 2024 | +31.8% | +22.3% |
| 2025 | -38.6% | +11.8% |
| 2026 | +0.6% | +8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMG and V good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CMG and V?
The CMG/V correlation stands at 0.42 on a 3-year window (1 year: 0.48, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is V a good diversifier for CMG?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 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 · V correlations
