Caterpillar Correlations

CAT Stock

USD 323.68 9.72 3.10%

The current 90-days correlation between Caterpillar and PACCAR Inc is 0.78 (i.e., Poor 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 poor diversification

The correlation between Caterpillar and DJI is 0.85 (i.e., Very 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.

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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

0.7	DE	Deere Company	Pair Corr
0.9	HY	Hyster Yale Materials Earnings Call Tomorrow	Pair Corr
0.88	ALG	Alamo Group	Pair Corr
0.84	CNH	CNH Industrial NV Symbol Change	Pair Corr
0.77	LNN	Lindsay	Pair Corr
0.83	MTW	Manitowoc Earnings Call Tomorrow	Pair Corr
0.9	OSK	Oshkosh	Pair Corr
0.94	TEX	Terex	Pair Corr
0.89	TWI	Titan International	Pair Corr
0.81	WNC	Wabash National	Pair Corr
0.86	GENC	Gencor Industries Earnings Call This Week	Pair Corr
0.78	HYFM	Hydrofarm Holdings	Pair Corr
0.92	PCAR	PACCAR Inc	Pair Corr
0.94	AGCO	AGCO	Pair Corr
0.72	ARTW	Arts Way Manufacturing	Pair Corr
0.84	SHYF	Shyft Group	Pair Corr
0.79	CMCO	Columbus McKinnon	Pair Corr
0.71	UGRO	Urban Gro	Pair Corr
0.9	J	Jacobs Solutions	Pair Corr
0.77	R	Ryder System Earnings Call This Week	Pair Corr
0.66	AP	Ampco Pittsburgh	Pair Corr
0.85	BE	Bloom Energy Corp Earnings Call This Week	Pair Corr
0.92	BW	Babcock Wilcox Enter Earnings Call This Week	Pair Corr
0.75	CP	Canadian Pacific Railway	Pair Corr
0.89	CR	Crane Company	Pair Corr
0.64	DY	Dycom Industries	Pair Corr
0.65	FA	First Advantage Corp Earnings Call This Week	Pair Corr

Moving against Caterpillar Stock

0.58	CEADW	CEA Industries Warrant	Pair Corr
0.33	DIST	Distoken Acquisition	Pair Corr
0.59	PC	Premium Catering	Pair Corr
0.51	GD	General Dynamics	Pair Corr
0.35	AZ	A2Z Smart Technologies	Pair Corr
0.33	NL	NL Industries	Pair Corr

Related Correlations Analysis

	AGCO	CNHI	NKLA	PCAR	DE	LNN	ALG	IDEX	ZEV	LEV
AGCO		0.0	0.61	0.9	0.82	0.83	0.88	0.48	0.0	0.0	AGCO
CNHI	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CNHI
NKLA	0.61	0.0		0.64	0.25	0.52	0.43	0.23	0.0	0.0	NKLA
PCAR	0.9	0.0	0.64		0.66	0.73	0.83	0.45	0.0	0.0	PCAR
DE	0.82	0.0	0.25	0.66		0.88	0.79	0.3	0.0	0.0	DE
LNN	0.83	0.0	0.52	0.73	0.88		0.73	0.28	0.0	0.0	LNN
ALG	0.88	0.0	0.43	0.83	0.79	0.73		0.49	0.0	0.0	ALG
IDEX	0.48	0.0	0.23	0.45	0.3	0.28	0.49		0.0	0.0	IDEX
ZEV	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	ZEV
LEV	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		LEV
	AGCO	CNHI	NKLA	PCAR	DE	LNN	ALG	IDEX	ZEV	LEV

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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

PCAR	+ 0.9	AGCO
ALG	+ 0.88	AGCO
LNN	+ 0.88	DE
LNN	+ 0.83	AGCO
ALG	+ 0.83	PCAR
DE	+ 0.82	AGCO

High negative correlations

LEV	- 0.0	ZEV
LEV	- 0.0	IDEX
ZEV	- 0.0	IDEX
LEV	- 0.0	ALG
ZEV	- 0.0	ALG
LEV	- 0.0	LNN

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
AGCO	2.56	0.09	0.00	(0.05)	0.00	0.00	5.65	(5.05)	18.01
CNHI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NKLA	12.08	(0.65)	0.00	0.40	0.00	0.00	34.00	(31.58)	185.83
PCAR	1.63	(0.18)	0.00	(0.30)	0.00	0.00	2.97	(3.82)	14.21
DE	1.67	0.15	0.07	0.03	1.95	(1.77)	3.47	(3.00)	11.91
LNN	1.44	0.11	0.00	(0.01)	0.00	0.00	2.66	(2.89)	11.48
ALG	1.42	0.00	0.00	(0.12)	0.00	0.00	2.69	(3.07)	12.73
IDEX	133.59	94.66	0.00	(35.52)	0.00	0.00	400.00	(65.00)	465.00
ZEV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LEV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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