CMI vs HUBB: Correlation
How closely do Cummins (CMI) and Hubbell Incorporated (HUBB) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMI and HUBB?
On 3 years of weekly data the CMI/HUBB correlation comes out at 0.59, moderate. Little has changed lately, as the 1-year reading of 0.62 lands near the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 433.6 %².
Among the 36 assets we track against CMI, HUBB ranks #18 by 3-year correlation. The last year tells two different stories: CMI led by 38.4 percentage points, +45.1% for CMI against +6.7% for HUBB. The rolling one-year correlation moved between 0.35 and 0.66 over the past three years, a moderate range.
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 HUBB: side by side
| CMI (Cummins) | HUBB (Hubbell Incorporated) | |
|---|---|---|
| 1-year return | +45.1% | +6.7% |
| 5-year return | +169.6% | +142.6% |
| Volatility (ann.) | 25.9% | 28.3% |
| Beta vs S&P 500 | 1.05 | 1.10 |
| Max drawdown (3Y) | -30.5% | -32.6% |
| Market cap | $79.0B | $24.8B |
| P/E (trailing) | 29.6 | 27.9 |
| Dividend yield | 1.38% | 1.18% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | CMI | HUBB |
|---|---|---|
| 2022 | +14.1% | +15.1% |
| 2023 | +1.7% | +42.4% |
| 2024 | +48.9% | +28.9% |
| 2025 | +49.4% | +7.4% |
| 2026 | +13.6% | +6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMI and HUBB good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CMI and HUBB?
As of 2026-08-27, the correlation of weekly returns between CMI and HUBB is 0.59 over 3 years, 0.62 over 1 year and 0.56 over 5 years.
Is HUBB a good diversifier for CMI?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cmi-vs-hubb.json
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Related comparisons
Hubs: CMI correlations · HUBB correlations
