CAT vs PPCB: Correlation
How closely do Caterpillar Inc. (CAT) and Propanc Biopharma, Inc. (PPCB) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAT and PPCB?
Over the past 3 years, CAT and PPCB moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.09 lands near the 3-year figure. Over 5 years the correlation is -0.14, and the annualized covariance of weekly returns is -5402240.6 %².
PPCB is close to the least connected end of CAT's tracked universe, ranking #32 of 36. Their recent paths diverged sharply: over the last 12 months CAT outperformed by 187.5 percentage points (+90.5% for CAT against -97.0% for PPCB). Note the risk asymmetry: PPCB runs 32727.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 PPCB: side by side
| CAT (Caterpillar Inc.) | PPCB (Propanc Biopharma, Inc.) | |
|---|---|---|
| 1-year return | +90.5% | -97.0% |
| 5-year return | +321.1% | -99.9% |
| Volatility (ann.) | 29.4% | 962193.8% |
| Beta vs S&P 500 | 1.03 | -3746.20 |
| Max drawdown (3Y) | -34.0% | -99.8% |
| Market cap | $375.6B | – |
| P/E (trailing) | 35.3 | 0.0 |
| Dividend yield | 0.75% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | CAT | PPCB |
|---|---|---|
| 2022 | +18.6% | -98.6% |
| 2023 | +25.9% | -98.0% |
| 2024 | +24.7% | -98.3% |
| 2025 | +60.3% | +134050.0% |
| 2026 | +43.5% | -83.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAT and PPCB good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between CAT and PPCB?
The CAT/PPCB correlation stands at -0.19 on a 3-year window (1 year: -0.09, 5 years: -0.14), computed from weekly returns as of 2026-08-27.
Is PPCB a good diversifier for CAT?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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-ppcb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cat-vs-ppcb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CAT correlations · PPCB correlations
