Caterpillar Correlations

CAT Stock

USD 617.62 9.49 1.56%

The current 90-days correlation between Caterpillar and Raytheon Technologies Corp is 0.13 (i.e., Average diversification). The correlation of Caterpillar is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Caterpillar Correlation With Market

Very weak diversification

The correlation between Caterpillar and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Caterpillar and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Caterpillar Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Caterpillar. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For more information on how to buy Caterpillar Stock please use our How to Invest in Caterpillar guide.

Moving together with Caterpillar Stock

0.86	CMI	Cummins	Pair Corr
0.86	WAB	Westinghouse Air Brake	Pair Corr
0.77	300818	Jiangxi Naipu Mining	Pair Corr
0.78	PCAR	PACCAR Inc	Pair Corr
0.69	PLOW	Douglas Dynamics	Pair Corr
0.74	300099	Uroica Mining Safety	Pair Corr
0.62	AMCCF	Amcor plc	Pair Corr
0.78	GPOVF	Grupo Carso SAB	Pair Corr
0.85	ACR-PC	ACRES Commercial Realty	Pair Corr
0.63	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.65	ACLLF	Atco	Pair Corr
0.82	DAC	Danaos	Pair Corr

Moving against Caterpillar Stock

0.75	BLBD	Blue Bird Corp	Pair Corr
0.62	WWT	Water Ways Technologies	Pair Corr
0.59	002480	Chengdu Xinzhu RoadBridge	Pair Corr
0.57	300210	Anshan Senyuan Road	Pair Corr
0.49	000880	Weichai Heavy Machinery	Pair Corr
0.48	002526	Shandong Mining Machinery	Pair Corr
0.34	000920	Vontron Technology	Pair Corr
0.63	ORGN	Origin Materials	Pair Corr
0.6	UIS	Unisys Tech Boost	Pair Corr

Related Correlations Analysis

	RTX	DE	GE	ETN	PCAR	PH	HY	AGCO	ASTE	REVG
RTX		0.55	0.63	-0.54	0.71	0.72	-0.27	0.12	0.06	0.52	RTX
DE	0.55		0.09	-0.48	0.51	0.63	-0.37	0.33	-0.19	0.13	DE
GE	0.63	0.09		-0.04	0.25	0.18	0.05	0.24	0.34	0.55	GE
ETN	-0.54	-0.48	-0.04		-0.8	-0.81	0.62	0.08	0.38	-0.39	ETN
PCAR	0.71	0.51	0.25	-0.8		0.87	-0.2	0.26	0.01	0.69	PCAR
PH	0.72	0.63	0.18	-0.81	0.87		-0.53	0.04	-0.3	0.35	PH
HY	-0.27	-0.37	0.05	0.62	-0.2	-0.53		0.41	0.76	0.31	HY
AGCO	0.12	0.33	0.24	0.08	0.26	0.04	0.41		0.51	0.51	AGCO
ASTE	0.06	-0.19	0.34	0.38	0.01	-0.3	0.76	0.51		0.49	ASTE
REVG	0.52	0.13	0.55	-0.39	0.69	0.35	0.31	0.51	0.49		REVG
	RTX	DE	GE	ETN	PCAR	PH	HY	AGCO	ASTE	REVG

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PH	+ 0.87	PCAR
ASTE	+ 0.76	HY
PH	+ 0.72	RTX
PCAR	+ 0.71	RTX
REVG	+ 0.69	PCAR
GE	+ 0.63	RTX

High negative correlations

PH	- 0.81	ETN
PCAR	- 0.8	ETN
ETN	- 0.54	RTX
HY	- 0.53	PH
ETN	- 0.48	DE
REVG	- 0.39	ETN

Risk-Adjusted Indicators

There is a big difference between Caterpillar Stock performing well and Caterpillar Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Caterpillar's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RTX	1.10	0.10	0.06	0.20	1.36	(1.12)	2.09	(2.45)	11.61
DE	1.15	0.04	0.01	0.15	1.57	(1.16)	2.29	(2.16)	7.96
GE	1.30	0.02	0.01	0.10	1.48	(1.33)	2.95	(2.84)	6.97
ETN	1.54	(0.31)	0.00	(0.13)	0.00	0.00	3.12	(4.15)	8.67
PCAR	1.27	0.23	0.24	0.27	0.79	(1.68)	3.68	(1.89)	7.05
PH	1.12	0.22	0.18	0.28	0.94	(1.25)	2.46	(1.94)	9.94
HY	2.23	(0.21)	0.00	(0.02)	0.00	0.00	4.65	(4.68)	20.40
AGCO	1.34	(0.07)	(0.03)	0.03	1.63	(1.57)	3.52	(2.38)	10.84
ASTE	1.72	(0.06)	0.00	(0.02)	0.00	0.00	3.65	(3.20)	7.52
REVG	1.71	0.19	0.09	0.20	2.34	(1.81)	3.53	(3.67)	14.08

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