CMG vs. MSTR

Last updated Jun 9, 2026

CMG (Chipotle Mexican Grill, Inc.) and MSTR (Strategy Inc) are both stocks. CMG operates in Restaurants (Consumer Cyclical), while MSTR operates in Software - Application (Technology). Over the past 10 years, CMG returned 13.70%/yr vs 21.08%/yr for MSTR. At a 0.32 correlation, their price movements are largely independent.

Performance

CMG vs. MSTR - Performance Comparison

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

Returns By Period

In the year-to-date period, CMG achieves a -20.89% return, which is significantly lower than MSTR's -16.29% return. Over the past 10 years, CMG has underperformed MSTR with an annualized return of 13.70%, while MSTR has yielded a comparatively higher 21.08% annualized return.

CMG

• 1D: -0.24%
• 1M: -9.91%
• YTD: -20.89%
• 6M: -12.91%
• 1Y: -44.25%
• 3Y*: -10.49%
• 5Y*: 1.95%
• 10Y*: 13.70%

MSTR

• 1D: 5.61%
• 1M: -32.19%
• YTD: -16.29%
• 6M: -30.75%
• 1Y: -66.03%
• 3Y*: 65.16%
• 5Y*: 19.92%
• 10Y*: 21.08%

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

CMG vs. MSTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMG Chipotle Mexican Grill, Inc.	-20.89%	-38.64%	31.83%	64.83%	-20.64%	26.07%	65.65%	93.87%	49.39%	-23.40%
MSTR Strategy Inc	-16.29%	-47.53%	358.54%	346.15%	-74.00%	40.13%	172.42%	11.65%	-2.70%	-33.49%

Correlation

The correlation between CMG and MSTR is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Jan 27, 2006	0.32

Over the past year, the correlation between CMG and MSTR has dropped to 0.11 - well below their long-term average of 0.32, suggesting their price drivers have been diverging.

Fundamentals

Market Cap CMG : $38.11B MSTR : $42.47B
EPS CMG : $1.09 MSTR : -$40.19
PS Ratio CMG : 3.20 MSTR : 79.74
PB Ratio CMG : 15.83 MSTR : 1.16
Total Revenue (TTM) CMG : $12.14B MSTR : $490.47M
Gross Profit (TTM) CMG : $4.39B MSTR : $334.08M
EBITDA (TTM) CMG : $2.30B MSTR : $466.93M

Return for Risk

CMG vs. MSTR — Risk / Return Rank

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

CMG

CMG Risk / Return Rank: 7
CMG Sharpe Ratio Rank: 3
CMG Sortino Ratio Rank: 5
CMG Omega Ratio Rank: 4
CMG Calmar Ratio Rank: 8
CMG Martin Ratio Rank: 13

MSTR

MSTR Risk / Return Rank: 8
MSTR Sharpe Ratio Rank: 6
MSTR Sortino Ratio Rank: 5
MSTR Omega Ratio Rank: 7
MSTR Calmar Ratio Rank: 8
MSTR Martin Ratio Rank: 13

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. MSTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Chipotle Mexican Grill, Inc. (CMG) and Strategy Inc (MSTR). 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.

	CMG	MSTR	Difference
Sharpe ratio: Return per unit of total volatility	-1.16	-0.94	-0.22
Sortino ratio: Return per unit of downside risk	-1.61	-1.66	+0.04
Omega ratio: Gain probability vs. loss probability	0.78	0.82	-0.04
Calmar ratio: Return relative to maximum drawdown	-0.86	-0.86	0.00
Martin ratio: Return relative to average drawdown	-1.27	-1.27	0.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMG vs. MSTR - Sharpe Ratio Comparison

The current CMG Sharpe Ratio is -1.16, which is comparable to the MSTR Sharpe Ratio of -0.94. The chart below compares the historical Sharpe Ratios of CMG and MSTR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CMG	MSTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.16	-0.94	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	0.22	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.29	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.12	+0.37

Drawdowns

CMG vs. MSTR - Drawdown Comparison

The maximum CMG drawdown since its inception was -74.61%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for CMG and MSTR.

Drawdown Indicators

	CMG	MSTR	Difference
Max Drawdown Largest peak-to-trough decline	-74.61%	-99.86%	+25.25%
Max Drawdown (1Y) Largest decline over 1 year	-51.61%	-76.53%	+24.92%
Max Drawdown (3Y) Largest decline over 3 years	-58.89%	-77.42%	+18.53%
Max Drawdown (5Y) Largest decline over 5 years	-58.89%	-84.11%	+25.22%
Max Drawdown (10Y) Largest decline over 10 years	-58.89%	-89.27%	+30.38%
Current Drawdown Current decline from peak	-57.30%	-73.15%	+15.85%
Average Drawdown Average peak-to-trough decline	-21.35%	-86.47%	+65.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.91%	52.19%	-17.28%

Volatility

CMG vs. MSTR - Volatility Comparison

The current volatility for Chipotle Mexican Grill, Inc. (CMG) is 10.05%, while Strategy Inc (MSTR) has a volatility of 21.43%. This indicates that CMG experiences smaller price fluctuations and is considered to be less risky than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMG	MSTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.05%	21.43%	-11.38%
Volatility (6M) Calculated over the trailing 6-month period	23.36%	56.80%	-33.44%
Volatility (1Y) Calculated over the trailing 1-year period	38.50%	70.82%	-32.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.55%	90.87%	-57.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.63%	73.77%	-38.14%

Dividends

CMG vs. MSTR - Dividend Comparison

Neither CMG nor MSTR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both CMG and MSTR in my portfolio?

CMG and MSTR have a correlation of 0.11, 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 MSTR?

MSTR has higher volatility (21.43%) compared to CMG (10.05%). In terms of maximum drawdown, CMG dropped -74.61% vs MSTR's -99.86%.

Which has better risk-adjusted returns?

MSTR currently has the higher Sharpe Ratio (-0.94 vs -1.16), 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.