SG vs. CNM

Last updated Jul 7, 2026

SG (Sweetgreen, Inc.) and CNM (Core & Main, Inc.) are both stocks. SG operates in Restaurants (Consumer Cyclical), while CNM operates in Industrial Distribution (Industrials). Over the past 3 years, SG returned -19.36%/yr vs 14.69%/yr for CNM. At a 0.35 correlation, their price movements are largely independent.

Performance

SG vs. CNM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sweetgreen, Inc. (SG) and Core & Main, Inc. (CNM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SG achieves a 19.08% return, which is significantly higher than CNM's -11.53% return.

SG

• 1D: -8.21%
• 1M: 8.49%
• 6M: 15.66%
• YTD: 19.08%
• 1Y: -45.20%
• 3Y*: -19.36%
• 5Y*: —
• 10Y*: —

CNM

• 1D: 2.34%
• 1M: -11.53%
• 6M: -16.99%
• YTD: -11.53%
• 1Y: -26.23%
• 3Y*: 14.69%
• 5Y*: —
• 10Y*: —

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

SG vs. CNM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SG Sweetgreen, Inc.	19.08%	-78.91%	183.72%	31.86%	-73.22%	-38.46%
CNM Core & Main, Inc.	-11.53%	2.08%	25.98%	109.27%	-36.35%	4.40%

Correlation

The correlation between SG and CNM is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (All Time) Calculated using the full available price history since Nov 18, 2021	0.35

Fundamentals

Market Cap SG : $956.56M CNM : $8.61B
EPS SG : $0.14 CNM : $3.02
PE Ratio SG : 57.07 CNM : 15.21
PS Ratio SG : 1.42 CNM : 0.89
Total Revenue (TTM) SG : $674.69M CNM : $7.65B
Gross Profit (TTM) SG : $73.84M CNM : $2.07B
EBITDA (TTM) SG : $93.13M CNM : $909.00M

Return for Risk

SG vs. CNM — Risk / Return Rank

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

SG

SG Risk / Return Rank: 21
SG Sharpe Ratio Rank: 17
SG Sortino Ratio Rank: 19
SG Omega Ratio Rank: 20
SG Calmar Ratio Rank: 20
SG Martin Ratio Rank: 27

CNM

CNM Risk / Return Rank: 15
CNM Sharpe Ratio Rank: 15
CNM Sortino Ratio Rank: 18
CNM Omega Ratio Rank: 16
CNM Calmar Ratio Rank: 13
CNM Martin Ratio Rank: 15

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.

SG vs. CNM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sweetgreen, Inc. (SG) and Core & Main, Inc. (CNM). 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.

	SG	CNM	Difference
Sharpe ratio: Return per unit of total volatility	-0.60	-0.65	+0.04
Sortino ratio: Return per unit of downside risk	-0.58	-0.64	+0.07
Omega ratio: Gain probability vs. loss probability	0.93	0.90	+0.03
Calmar ratio: Return relative to maximum drawdown	-0.64	-0.78	+0.14
Martin ratio: Return relative to average drawdown	-0.85	-1.22	+0.37

SG vs. CNM - Sharpe Ratio Comparison

The current SG Sharpe Ratio is -0.60, which is comparable to the CNM Sharpe Ratio of -0.65. The chart below compares the historical Sharpe Ratios of SG and CNM, 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

SG vs. CNM - Drawdown Comparison

The maximum SG drawdown since its inception was -91.13%, which is greater than CNM's maximum drawdown of -40.00%. Use the drawdown chart below to compare losses from any high point for SG and CNM.

Drawdown Indicators

	SG	CNM	Difference
Max Drawdown Largest peak-to-trough decline	-91.13%	-40.00%	-51.13%
Max Drawdown (1Y) Largest decline over 1 year	-71.09%	-33.88%	-37.21%
Max Drawdown (3Y) Largest decline over 3 years	-89.31%	-38.74%	-50.57%
Current Drawdown Current decline from peak	-84.81%	-31.35%	-53.46%
Average Drawdown Average peak-to-trough decline	-66.76%	-17.31%	-49.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	53.56%	21.61%	+31.95%

Volatility

SG vs. CNM - Volatility Comparison

Sweetgreen, Inc. (SG) has a higher volatility of 23.02% compared to Core & Main, Inc. (CNM) at 12.53%. This indicates that SG's price experiences larger fluctuations and is considered to be riskier than CNM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SG	CNM	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.02%	12.53%	+10.49%
Volatility (6M) Calculated over the trailing 6-month period	56.26%	24.91%	+31.35%
Volatility (1Y) Calculated over the trailing 1-year period	75.50%	40.79%	+34.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.80%	40.74%	+39.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.80%	40.74%	+39.06%

Dividends

SG vs. CNM - Dividend Comparison

Neither SG nor CNM has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

SG vs. CNM - Profitability Comparison

The chart below illustrates the profitability comparison between Sweetgreen, Inc. and Core & Main, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

SG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Sweetgreen, Inc. reported a gross profit of 0.00 and revenue of 161.52M. Therefore, the gross margin over that period was 0.0%.

CNM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Core & Main, Inc. reported a gross profit of 520.00M and revenue of 1.91B. Therefore, the gross margin over that period was 27.2%.

SG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Sweetgreen, Inc. reported an operating income of -34.35M and revenue of 161.52M, resulting in an operating margin of -21.3%.

CNM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Core & Main, Inc. reported an operating income of 177.00M and revenue of 1.91B, resulting in an operating margin of 9.3%.

SG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Sweetgreen, Inc. reported a net income of 125.81M and revenue of 161.52M, resulting in a net margin of 77.9%.

CNM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Core & Main, Inc. reported a net income of 108.00M and revenue of 1.91B, resulting in a net margin of 5.7%.

Frequently Asked Questions

Can I hold both SG and CNM in my portfolio?

SG and CNM have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SG or CNM?

SG has higher volatility (23.02%) compared to CNM (12.53%). In terms of maximum drawdown, SG dropped -91.13% vs CNM's -40.00%.

Which has better risk-adjusted returns?

SG currently has the higher Sharpe Ratio (-0.60 vs -0.65), 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.