Caterpillar Correlations

CAT Stock

USD 769.00 12.53 1.66%

The current 90-days correlation between Caterpillar and Raytheon Technologies Corp is 0.37 (i.e., Weak 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

Poor diversification

The correlation between Caterpillar and DJI is 0.77 (i.e., Poor 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

0.93	DCO	Deere Company	Pair Corr
0.95	KOMA	KOMATSU LTD SPONS	Pair Corr
0.91	PFI	Palfinger AG Earnings Call This Week	Pair Corr
0.88	WA9	Wabash National	Pair Corr
0.86	ROI	Rosenbauer International	Pair Corr
0.93	37C	CNH Industrial NV	Pair Corr
0.61	WPRT	Westport Fuel Systems	Pair Corr
0.85	TXG	Terex	Pair Corr
0.76	1RG	REV Group	Pair Corr
0.95	KOM1	Komatsu	Pair Corr
0.93	ALG	Alamo Group Earnings Call This Week	Pair Corr
0.89	CMI	Cummins	Pair Corr
0.95	CYD	China Yuchai Interna Earnings Call Tomorrow	Pair Corr
0.68	FSS	Federal Signal Earnings Call Tomorrow	Pair Corr
0.95	GBX	Greenbrier Companies	Pair Corr
0.94	MLR	Miller Industries	Pair Corr
0.82	MTW	Manitowoc	Pair Corr
0.95	OSK	Oshkosh	Pair Corr
0.88	TEX	Terex	Pair Corr
0.9	TRN	Trinity Industries	Pair Corr
0.8	MNGN	Manitowoc	Pair Corr
0.96	WAB	Westinghouse Air Brake	Pair Corr
0.92	WNC	Wabash National	Pair Corr
0.62	X5Q	COMER INDS SPA	Pair Corr
0.95	TZ4	Titan International Earnings Call This Week	Pair Corr
0.96	HCMA	HITACHI CONSTRMACHADR/2	Pair Corr

Moving against Caterpillar Stock

0.67	BNC	CEA Industries Symbol Change	Pair Corr
0.91	FLD	Fold Holdings Class	Pair Corr
0.85	HCAI	Huachen AI Parking	Pair Corr
0.65	GWPD	GP Solutions	Pair Corr
0.42	RAL	Ralliant Common	Pair Corr

Related Correlations Analysis

	RTX	DE	GE	ETN	PH	HY	AGCO	ASTE
RTX		0.75	0.71	0.52	0.9	0.68	0.72	0.79	RTX
DE	0.75		0.56	0.83	0.89	0.82	0.95	0.93	DE
GE	0.71	0.56		0.28	0.68	0.5	0.57	0.6	GE
ETN	0.52	0.83	0.28		0.72	0.74	0.85	0.82	ETN
PH	0.9	0.89	0.68	0.72		0.9	0.88	0.95	PH
HY	0.68	0.82	0.5	0.74	0.9		0.85	0.92	HY
AGCO	0.72	0.95	0.57	0.85	0.88	0.85		0.95	AGCO
ASTE	0.79	0.93	0.6	0.82	0.95	0.92	0.95		ASTE
	RTX	DE	GE	ETN	PH	HY	AGCO	ASTE

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	1.04	0.19	0.11	0.46	1.23	(1.10)	2.35	(2.45)	7.00
DE	1.50	0.44	0.25	0.67	1.20	(1.77)	4.09	(2.36)	11.51
GE	1.53	0.14	0.06	0.21	2.11	(1.57)	3.70	(3.35)	11.51
ETN	1.52	0.01	0.01	0.07	2.03	(1.53)	3.32	(3.09)	8.67
PH	0.96	0.25	0.23	0.32	0.75	(1.07)	2.41	(1.56)	5.24
HY	2.35	0.37	0.18	0.22	2.14	(2.78)	5.10	(4.68)	20.43
AGCO	1.39	0.42	0.26	2.08	1.06	(1.71)	4.41	(1.72)	10.84
ASTE	1.73	0.37	0.25	0.26	1.25	(1.98)	4.37	(2.74)	7.79

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