ASTE vs CAT: Correlation
Astec Industries, Inc. (ASTE) and Caterpillar Inc. (CAT) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTE and CAT?
Across a 3-year window, the weekly returns of ASTE and CAT correlate at 0.54, moderate. Little has changed lately, as the 1-year reading of 0.52 lands near the 3-year figure. Stretching to 5 years gives 0.58, with an annualized covariance of 725.9 %².
By 3-year correlation, CAT places #5 of the 13 assets tracked against ASTE. Correlation aside, the last 12 months split them widely, with CAT ahead by 96.4 points (-5.9% versus +90.5%). One caveat on sizing: ASTE is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ASTE vs CAT: side by side
| ASTE (Astec Industries, Inc.) | CAT (Caterpillar Inc.) | |
|---|---|---|
| 1-year return | -5.9% | +90.5% |
| 5-year return | -23.7% | +321.1% |
| Volatility (ann.) | 45.5% | 29.4% |
| Beta vs S&P 500 | 0.95 | 1.03 |
| Max drawdown (3Y) | -47.0% | -34.0% |
| Market cap | $1.0B | $375.6B |
| P/E (trailing) | 52.6 | 35.3 |
| Dividend yield | 1.18% | 0.75% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | ASTE | CAT |
|---|---|---|
| 2022 | -40.6% | +18.6% |
| 2023 | -7.3% | +25.9% |
| 2024 | -8.4% | +24.7% |
| 2025 | +30.6% | +60.3% |
| 2026 | +2.7% | +43.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTE and CAT good diversifiers for each other?
Only partially. A correlation of 0.54 means ASTE and CAT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ASTE and CAT?
As of 2026-08-27, the correlation of weekly returns between ASTE and CAT is 0.54 over 3 years, 0.52 over 1 year and 0.58 over 5 years.
Is CAT a good diversifier for ASTE?
Only partially. A correlation of 0.54 means ASTE and CAT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aste-vs-cat.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aste-vs-cat/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASTE correlations · CAT correlations
