NOW vs. CMG

Last updated Jun 13, 2026

NOW (ServiceNow, Inc) and CMG (Chipotle Mexican Grill, Inc.) are both stocks. NOW operates in Software - Application (Technology), while CMG operates in Restaurants (Consumer Cyclical). Over the past 10 years, NOW returned 21.48%/yr vs 15.09%/yr for CMG. At a 0.36 correlation, their price movements are largely independent.

Performance

NOW vs. CMG - Performance Comparison

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

Returns By Period

In the year-to-date period, NOW achieves a -33.32% return, which is significantly lower than CMG's -12.89% return. Over the past 10 years, NOW has outperformed CMG with an annualized return of 21.48%, while CMG has yielded a comparatively lower 15.09% annualized return.

NOW

• 1D: -0.90%
• 1M: 7.45%
• YTD: -33.32%
• 6M: -40.96%
• 1Y: -48.34%
• 3Y*: -2.72%
• 5Y*: 0.51%
• 10Y*: 21.48%

CMG

• 1D: 3.14%
• 1M: -1.29%
• YTD: -12.89%
• 6M: -10.82%
• 1Y: -35.85%
• 3Y*: -7.94%
• 5Y*: 3.35%
• 10Y*: 15.09%

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

NOW vs. CMG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NOW ServiceNow, Inc	-33.32%	-27.75%	50.05%	81.96%	-40.18%	17.93%	94.97%	58.56%	36.55%	75.40%
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%

Correlation

The correlation between NOW and CMG is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jun 29, 2012	0.36

Over the past year, the correlation between NOW and CMG has dropped to 0.12 - well below their long-term average of 0.36, suggesting their price drivers have been diverging.

Fundamentals

Market Cap NOW : $106.24B CMG : $41.96B
EPS NOW : $1.68 CMG : $1.09
PE Ratio NOW : 60.81 CMG : 29.48
PEG Ratio NOW : 0.51 CMG : 1.10
PS Ratio NOW : 7.65 CMG : 3.53
PB Ratio NOW : 7.83 CMG : 17.43
Total Revenue (TTM) NOW : $13.96B CMG : $12.14B
Gross Profit (TTM) NOW : $10.69B CMG : $4.39B
EBITDA (TTM) NOW : $2.80B CMG : $2.30B

Return for Risk

NOW vs. CMG — Risk / Return Rank

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

NOW

NOW Risk / Return Rank: 8
NOW Sharpe Ratio Rank: 5
NOW Sortino Ratio Rank: 7
NOW Omega Ratio Rank: 7
NOW Calmar Ratio Rank: 11
NOW Martin Ratio Rank: 8

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

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.

NOW vs. CMG - Risk-Adjusted Trends Comparison

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

	NOW	CMG	Difference
Sharpe ratio: Return per unit of total volatility	-0.99	-0.95	-0.03
Sortino ratio: Return per unit of downside risk	-1.44	-1.21	-0.23
Omega ratio: Gain probability vs. loss probability	0.82	0.83	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.82	-0.71	-0.11
Martin ratio: Return relative to average drawdown	-1.45	-1.04	-0.41

NOW vs. CMG - Sharpe Ratio Comparison

The current NOW Sharpe Ratio is -0.99, which is comparable to the CMG Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of NOW and CMG, 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

NOW vs. CMG - Drawdown Comparison

The maximum NOW drawdown since its inception was -64.54%, smaller than the maximum CMG drawdown of -74.61%. Use the drawdown chart below to compare losses from any high point for NOW and CMG.

Drawdown Indicators

	NOW	CMG	Difference
Max Drawdown Largest peak-to-trough decline	-64.54%	-74.61%	+10.07%
Max Drawdown (1Y) Largest decline over 1 year	-60.28%	-51.61%	-8.67%
Max Drawdown (3Y) Largest decline over 3 years	-64.54%	-58.89%	-5.65%
Max Drawdown (5Y) Largest decline over 5 years	-64.54%	-58.89%	-5.65%
Max Drawdown (10Y) Largest decline over 10 years	-64.54%	-58.89%	-5.65%
Current Drawdown Current decline from peak	-56.36%	-52.98%	-3.38%
Average Drawdown Average peak-to-trough decline	-13.78%	-21.37%	+7.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.02%	35.40%	-1.38%

Volatility

NOW vs. CMG - Volatility Comparison

ServiceNow, Inc (NOW) has a higher volatility of 25.56% compared to Chipotle Mexican Grill, Inc. (CMG) at 10.80%. This indicates that NOW's price experiences larger fluctuations and is considered to be riskier than CMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOW	CMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.56%	10.80%	+14.76%
Volatility (6M) Calculated over the trailing 6-month period	47.01%	23.87%	+23.14%
Volatility (1Y) Calculated over the trailing 1-year period	50.12%	38.63%	+11.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.44%	33.60%	+9.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.86%	35.63%	+5.23%

Dividends

NOW vs. CMG - Dividend Comparison

Neither NOW nor CMG has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

NOW vs. CMG - Profitability Comparison

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

NOW - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, ServiceNow, Inc reported a gross profit of 2.83B and revenue of 3.77B. Therefore, the gross margin over that period was 75.1%.

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%.

NOW - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, ServiceNow, Inc reported an operating income of 503.00M and revenue of 3.77B, resulting in an operating margin of 13.3%.

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%.

NOW - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, ServiceNow, Inc reported a net income of 469.00M and revenue of 3.77B, resulting in a net margin of 12.4%.

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%.

Frequently Asked Questions

Can I hold both NOW and CMG in my portfolio?

NOW and CMG have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NOW or CMG?

NOW has higher volatility (25.56%) compared to CMG (10.80%). In terms of maximum drawdown, NOW dropped -64.54% vs CMG's -74.61%.

Which has better risk-adjusted returns?

CMG currently has the higher Sharpe Ratio (-0.95 vs -0.99), 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.