CAT vs HUBB: Correlation
How closely do Caterpillar Inc. (CAT) and Hubbell Incorporated (HUBB) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAT and HUBB?
Across a 3-year window, the weekly returns of CAT and HUBB correlate at 0.61, strong. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. Stretching to 5 years gives 0.54, with an annualized covariance of 511.3 %².
Among the 36 assets we track against CAT, HUBB ranks #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CAT outperformed by 83.8 percentage points (+90.5% for CAT against +6.7% for HUBB). Across three years, the rolling one-year figure varied moderately, from 0.35 to 0.71.
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 HUBB: side by side
| CAT (Caterpillar Inc.) | HUBB (Hubbell Incorporated) | |
|---|---|---|
| 1-year return | +90.5% | +6.7% |
| 5-year return | +321.1% | +142.6% |
| Volatility (ann.) | 29.4% | 28.3% |
| Beta vs S&P 500 | 1.03 | 1.10 |
| Max drawdown (3Y) | -34.0% | -32.6% |
| Market cap | $375.6B | $24.8B |
| P/E (trailing) | 35.3 | 27.9 |
| Dividend yield | 0.75% | 1.18% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | CAT | HUBB |
|---|---|---|
| 2022 | +18.6% | +15.1% |
| 2023 | +25.9% | +42.4% |
| 2024 | +24.7% | +28.9% |
| 2025 | +60.3% | +7.4% |
| 2026 | +43.5% | +6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAT and HUBB good diversifiers for each other?
Only partially. A correlation of 0.61 means CAT and HUBB 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 CAT and HUBB?
As of 2026-08-27, the correlation of weekly returns between CAT and HUBB is 0.61 over 3 years, 0.61 over 1 year and 0.54 over 5 years.
Is HUBB a good diversifier for CAT?
Only partially. A correlation of 0.61 means CAT and HUBB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.61 mean?
A reading of 0.61 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 · HUBB correlations
