AZZ vs CMI: Correlation
AZZ Inc. (AZZ) and Cummins (CMI) 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 AZZ and CMI?
Across a 3-year window, the weekly returns of AZZ and CMI correlate at 0.62, strong. Little has changed lately, as the 1-year reading of 0.62 lands near the 3-year figure. Stretching to 5 years gives 0.62, with an annualized covariance of 522.1 %².
In AZZ's tracked universe of 11 assets, CMI sits right near the top at #2. Correlation aside, the last 12 months split them widely, with CMI ahead by 24.3 points (+20.8% versus +45.1%).
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.
AZZ vs CMI: side by side
| AZZ (AZZ Inc.) | CMI (Cummins) | |
|---|---|---|
| 1-year return | +20.8% | +45.1% |
| 5-year return | +177.7% | +169.6% |
| Volatility (ann.) | 32.5% | 25.9% |
| Beta vs S&P 500 | 1.09 | 1.05 |
| Max drawdown (3Y) | -23.7% | -30.5% |
| Market cap | $4.2B | $79.0B |
| P/E (trailing) | 21.5 | 29.6 |
| Dividend yield | 0.57% | 1.38% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | AZZ | CMI |
|---|---|---|
| 2022 | -26.1% | +14.1% |
| 2023 | +46.8% | +1.7% |
| 2024 | +42.3% | +48.9% |
| 2025 | +31.9% | +49.4% |
| 2026 | +31.0% | +13.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZZ and CMI good diversifiers for each other?
Only partially. A correlation of 0.62 means AZZ and CMI 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 AZZ and CMI?
As of 2026-08-27, the correlation of weekly returns between AZZ and CMI is 0.62 over 3 years, 0.62 over 1 year and 0.62 over 5 years.
Is CMI a good diversifier for AZZ?
Only partially. A correlation of 0.62 means AZZ and CMI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
A reading of 0.62 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/azz-vs-cmi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/azz-vs-cmi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AZZ correlations · CMI correlations
