CAT vs GLW: Correlation
Measured on weekly returns over the past three years, Caterpillar Inc. (CAT) and Corning Inc. (GLW) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAT and GLW?
Over the past 3 years, CAT and GLW moved with a correlation of 0.53, which is moderate. Recent behaviour matches the longer record: 0.59 over 1 year against 0.53 over 3. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 651.5 %².
Among the 36 assets we track against CAT, GLW ranks #20 by 3-year correlation. The last year tells two different stories: GLW led by 39.2 percentage points, +90.5% for CAT against +129.7% for GLW. Across three years, the rolling one-year figure varied moderately, from 0.28 to 0.67.
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.
CAT vs GLW: side by side
| CAT (Caterpillar Inc.) | GLW (Corning Inc.) | |
|---|---|---|
| 1-year return | +90.5% | +129.7% |
| 5-year return | +321.1% | +331.4% |
| Volatility (ann.) | 29.4% | 42.1% |
| Beta vs S&P 500 | 1.03 | 1.15 |
| Max drawdown (3Y) | -34.0% | -51.5% |
| Market cap | $375.6B | $131.6B |
| P/E (trailing) | 35.3 | 70.4 |
| Dividend yield | 0.75% | 0.73% |
| Sector / category | Industrials | Information Technology |
Year-by-year returns
| Year | CAT | GLW |
|---|---|---|
| 2022 | +18.6% | -11.6% |
| 2023 | +25.9% | -1.2% |
| 2024 | +24.7% | +60.6% |
| 2025 | +60.3% | +87.8% |
| 2026 | +43.5% | +75.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAT and GLW good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CAT and GLW?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.59 over the last year and 0.48 over 5 years.
Is GLW a good diversifier for CAT?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
A reading of 0.53 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CAT correlations · GLW correlations
