CAT vs MKSI: Correlation
Measured on weekly returns over the past three years, Caterpillar Inc. (CAT) and MKS Inc. (MKSI) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAT and MKSI?
On 3 years of weekly data the CAT/MKSI correlation comes out at 0.60, strong. Recent behaviour matches the longer record: 0.61 over 1 year against 0.60 over 3. The 5-year figure is 0.51, and annualized covariance runs at 899.5 %².
Within CAT's tracked universe of 36 assets, MKSI comes in at #14 by 3-year correlation. The last year tells two different stories: MKSI led by 67.0 percentage points, +90.5% for CAT against +157.5% for MKSI. One caveat on sizing: MKSI is 1.7 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.
CAT vs MKSI: side by side
| CAT (Caterpillar Inc.) | MKSI (MKS Inc.) | |
|---|---|---|
| 1-year return | +90.5% | +157.5% |
| 5-year return | +321.1% | +88.2% |
| Volatility (ann.) | 29.4% | 50.8% |
| Beta vs S&P 500 | 1.03 | 2.39 |
| Max drawdown (3Y) | -34.0% | -59.1% |
| Market cap | $375.6B | $18.3B |
| P/E (trailing) | 35.3 | 43.3 |
| Dividend yield | 0.75% | 0.35% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | CAT | MKSI |
|---|---|---|
| 2022 | +18.6% | -51.0% |
| 2023 | +25.9% | +22.6% |
| 2024 | +24.7% | +2.2% |
| 2025 | +60.3% | +54.4% |
| 2026 | +43.5% | +70.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAT and MKSI good diversifiers for each other?
Only partially. A correlation of 0.60 means CAT and MKSI 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 MKSI?
As of 2026-08-27, the correlation of weekly returns between CAT and MKSI is 0.60 over 3 years, 0.61 over 1 year and 0.51 over 5 years.
Is MKSI a good diversifier for CAT?
Only partially. A correlation of 0.60 means CAT and MKSI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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/cat-vs-mksi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cat-vs-mksi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CAT correlations · MKSI correlations
