AME vs CAT: Correlation
Ametek (AME) and Caterpillar Inc. (CAT) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AME and CAT?
Across a 3-year window, the weekly returns of AME and CAT correlate at 0.62, strong. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Stretching to 5 years gives 0.60, with an annualized covariance of 373.2 %².
Within AME's tracked universe of 31 assets, CAT comes in at #10 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CAT ahead by 59.1 points (+31.4% versus +90.5%). On a rolling one-year basis the correlation drifted between 0.49 and 0.75, a moderate band.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AME vs CAT: side by side
| AME (Ametek) | CAT (Caterpillar Inc.) | |
|---|---|---|
| 1-year return | +31.4% | +90.5% |
| 5-year return | +83.6% | +321.1% |
| Volatility (ann.) | 20.4% | 29.4% |
| Beta vs S&P 500 | 0.84 | 1.03 |
| Max drawdown (3Y) | -23.0% | -34.0% |
| Market cap | $55.9B | $375.6B |
| P/E (trailing) | 35.8 | 35.3 |
| Dividend yield | 0.53% | 0.75% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | AME | CAT |
|---|---|---|
| 2022 | -4.3% | +18.6% |
| 2023 | +18.8% | +25.9% |
| 2024 | +10.0% | +24.7% |
| 2025 | +14.7% | +60.3% |
| 2026 | +19.1% | +43.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AME and CAT good diversifiers for each other?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AME and CAT?
The AME/CAT correlation stands at 0.62 on a 3-year window (1 year: 0.53, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is CAT a good diversifier for AME?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ame-vs-cat.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ame-vs-cat/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AME correlations · CAT correlations
