CMI vs ENS: Correlation
Measured on weekly returns over the past three years, Cummins (CMI) and EnerSys (ENS) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMI and ENS?
Over the past 3 years, CMI and ENS moved with a correlation of 0.58, which is moderate. Recent behaviour matches the longer record: 0.63 over 1 year against 0.58 over 3. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 456.2 %².
Among the 36 assets we track against CMI, ENS ranks #20 by 3-year correlation. The last year tells two different stories: ENS led by 42.8 percentage points, +45.1% for CMI against +87.9% for ENS.
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.
CMI vs ENS: side by side
| CMI (Cummins) | ENS (EnerSys) | |
|---|---|---|
| 1-year return | +45.1% | +87.9% |
| 5-year return | +169.6% | +131.9% |
| Volatility (ann.) | 25.9% | 30.1% |
| Beta vs S&P 500 | 1.05 | 1.09 |
| Max drawdown (3Y) | -30.5% | -28.2% |
| Market cap | $79.0B | $6.9B |
| P/E (trailing) | 29.6 | 20.7 |
| Dividend yield | 1.38% | 0.54% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | CMI | ENS |
|---|---|---|
| 2022 | +14.1% | -5.6% |
| 2023 | +1.7% | +37.9% |
| 2024 | +48.9% | -7.6% |
| 2025 | +49.4% | +60.3% |
| 2026 | +13.6% | +30.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMI and ENS good diversifiers for each other?
Only partially. A correlation of 0.58 means CMI and ENS 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 CMI and ENS?
The CMI/ENS correlation stands at 0.58 on a 3-year window (1 year: 0.63, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is ENS a good diversifier for CMI?
Only partially. A correlation of 0.58 means CMI and ENS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
A reading of 0.58 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/cmi-vs-ens.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cmi-vs-ens/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CMI correlations · ENS correlations
