TAP vs TGT: Correlation
Molson Coors Beverage Company (TAP) and Target Corporation (TGT) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TAP and TGT?
Over the past 3 years, TAP and TGT moved with a correlation of 0.36, which is moderate. The past 12 months show a tighter link (0.56) than the 3-year average (0.36). Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 277.6 %².
Within TAP's tracked universe of 38 assets, TGT comes in at #22 by 3-year correlation. The last year tells two different stories: TGT led by 91.2 percentage points, -15.0% for TAP against +76.2% for TGT. Across three years, the rolling one-year figure varied moderately, from 0.09 to 0.58.
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.
TAP vs TGT: side by side
| TAP (Molson Coors Beverage Company) | TGT (Target Corporation) | |
|---|---|---|
| 1-year return | -15.0% | +76.2% |
| 5-year return | +3.9% | -22.2% |
| Volatility (ann.) | 23.9% | 32.0% |
| Beta vs S&P 500 | 0.15 | 0.62 |
| Max drawdown (3Y) | -38.8% | -49.8% |
| Market cap | $7.8B | $75.4B |
| P/E (trailing) | – | 17.2 |
| Dividend yield | 4.51% | 2.78% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | TAP | TGT |
|---|---|---|
| 2022 | +14.4% | -34.2% |
| 2023 | +22.2% | -1.4% |
| 2024 | -3.4% | -2.3% |
| 2025 | -15.5% | -24.5% |
| 2026 | -8.8% | +74.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TAP and TGT good diversifiers for each other?
Reasonably. At 0.36, TAP and TGT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between TAP and TGT?
The TAP/TGT correlation stands at 0.36 on a 3-year window (1 year: 0.56, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is TGT a good diversifier for TAP?
Reasonably. At 0.36, TAP and TGT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/tap-vs-tgt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/tap-vs-tgt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TAP correlations · TGT correlations
