CMG vs. ANET

Last updated Jun 13, 2026

CMG (Chipotle Mexican Grill, Inc.) and ANET (Arista Networks, Inc.) are both stocks. CMG operates in Restaurants (Consumer Cyclical), while ANET operates in Computer Hardware (Technology). Over the past 10 years, CMG returned 15.09%/yr vs 43.12%/yr for ANET. At a 0.28 correlation, their price movements are largely independent.

Performance

CMG vs. ANET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Chipotle Mexican Grill, Inc. (CMG) and Arista Networks, Inc. (ANET). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CMG achieves a -12.89% return, which is significantly lower than ANET's 24.58% return. Over the past 10 years, CMG has underperformed ANET with an annualized return of 15.09%, while ANET has yielded a comparatively higher 43.12% annualized return.

CMG

• 1D: 3.14%
• 1M: 0.37%
• YTD: -12.89%
• 6M: -10.82%
• 1Y: -36.67%
• 3Y*: -7.94%
• 5Y*: 3.35%
• 10Y*: 15.09%

ANET

• 1D: 4.37%
• 1M: 16.03%
• YTD: 24.58%
• 6M: 30.84%
• 1Y: 70.45%
• 3Y*: 57.04%
• 5Y*: 48.31%
• 10Y*: 43.12%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CMG vs. ANET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMG Chipotle Mexican Grill, Inc.	-12.89%	-38.64%	31.83%	64.83%	-20.64%	26.07%	65.65%	93.87%	49.39%	-23.40%
ANET Arista Networks, Inc.	24.58%	18.55%	87.73%	94.07%	-15.58%	97.89%	42.86%	-3.46%	-10.56%	143.44%

Correlation

The correlation between CMG and ANET is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jun 6, 2014	0.28

Over the past year, the correlation between CMG and ANET has dropped to 0.06 - well below their long-term average of 0.28, suggesting their price drivers have been diverging.

Fundamentals

Market Cap CMG : $41.96B ANET : $207.94B
EPS CMG : $1.09 ANET : $2.92
PE Ratio CMG : 29.48 ANET : 55.91
PEG Ratio CMG : 1.10 ANET : 1.31
PS Ratio CMG : 3.53 ANET : 21.42
PB Ratio CMG : 17.43 ANET : 15.42
Total Revenue (TTM) CMG : $12.14B ANET : $9.71B
Gross Profit (TTM) CMG : $4.39B ANET : $6.17B
EBITDA (TTM) CMG : $2.30B ANET : $4.21B

Return for Risk

CMG vs. ANET — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CMG

CMG Risk / Return Rank: 12
CMG Sharpe Ratio Rank: 6
CMG Sortino Ratio Rank: 10
CMG Omega Ratio Rank: 8
CMG Calmar Ratio Rank: 16
CMG Martin Ratio Rank: 21

ANET

ANET Risk / Return Rank: 78
ANET Sharpe Ratio Rank: 80
ANET Sortino Ratio Rank: 75
ANET Omega Ratio Rank: 74
ANET Calmar Ratio Rank: 80
ANET Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CMG vs. ANET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Chipotle Mexican Grill, Inc. (CMG) and Arista Networks, Inc. (ANET). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CMG	ANET	Difference
Sharpe ratio: Return per unit of total volatility	-0.95	1.32	-2.28
Sortino ratio: Return per unit of downside risk	-1.21	1.90	-3.12
Omega ratio: Gain probability vs. loss probability	0.83	1.24	-0.41
Calmar ratio: Return relative to maximum drawdown	-0.71	2.50	-3.21
Martin ratio: Return relative to average drawdown	-1.04	5.20	-6.24

CMG vs. ANET - Sharpe Ratio Comparison

The current CMG Sharpe Ratio is -0.95, which is lower than the ANET Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of CMG and ANET, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CMG vs. ANET - Drawdown Comparison

The maximum CMG drawdown since its inception was -74.61%, which is greater than ANET's maximum drawdown of -52.20%. Use the drawdown chart below to compare losses from any high point for CMG and ANET.

Drawdown Indicators

	CMG	ANET	Difference
Max Drawdown Largest peak-to-trough decline	-74.61%	-52.20%	-22.41%
Max Drawdown (1Y) Largest decline over 1 year	-51.61%	-28.33%	-23.28%
Max Drawdown (3Y) Largest decline over 3 years	-58.89%	-50.42%	-8.47%
Max Drawdown (5Y) Largest decline over 5 years	-58.89%	-50.42%	-8.47%
Max Drawdown (10Y) Largest decline over 10 years	-58.89%	-52.20%	-6.69%
Current Drawdown Current decline from peak	-52.98%	-8.15%	-44.83%
Average Drawdown Average peak-to-trough decline	-21.37%	-15.39%	-5.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.40%	13.60%	+21.80%

Volatility

CMG vs. ANET - Volatility Comparison

The current volatility for Chipotle Mexican Grill, Inc. (CMG) is 10.80%, while Arista Networks, Inc. (ANET) has a volatility of 16.62%. This indicates that CMG experiences smaller price fluctuations and is considered to be less risky than ANET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMG	ANET	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.80%	16.62%	-5.82%
Volatility (6M) Calculated over the trailing 6-month period	23.87%	40.79%	-16.92%
Volatility (1Y) Calculated over the trailing 1-year period	38.63%	53.57%	-14.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.60%	47.23%	-13.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.63%	45.00%	-9.37%

Dividends

CMG vs. ANET - Dividend Comparison

Neither CMG nor ANET has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

CMG vs. ANET - Profitability Comparison

The chart below illustrates the profitability comparison between Chipotle Mexican Grill, Inc. and Arista Networks, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CMG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Chipotle Mexican Grill, Inc. reported a gross profit of 2.11B and revenue of 3.09B. Therefore, the gross margin over that period was 68.4%.

ANET - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Arista Networks, Inc. reported a gross profit of 1.68B and revenue of 2.71B. Therefore, the gross margin over that period was 61.9%.

CMG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Chipotle Mexican Grill, Inc. reported an operating income of 397.06M and revenue of 3.09B, resulting in an operating margin of 12.9%.

ANET - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Arista Networks, Inc. reported an operating income of 1.16B and revenue of 2.71B, resulting in an operating margin of 42.7%.

CMG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Chipotle Mexican Grill, Inc. reported a net income of 302.82M and revenue of 3.09B, resulting in a net margin of 9.8%.

ANET - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Arista Networks, Inc. reported a net income of 1.02B and revenue of 2.71B, resulting in a net margin of 37.8%.

Frequently Asked Questions

Can I hold both CMG and ANET in my portfolio?

CMG and ANET have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CMG or ANET?

ANET has higher volatility (16.62%) compared to CMG (10.80%). In terms of maximum drawdown, CMG dropped -74.61% vs ANET's -52.20%.

Which has better risk-adjusted returns?

ANET currently has the higher Sharpe Ratio (1.32 vs -0.95), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.