CMI vs MLI: Correlation
Measured on weekly returns over the past three years, Cummins (CMI) and Mueller Industries, Inc. (MLI) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMI and MLI?
Over the past 3 years, CMI and MLI moved with a correlation of 0.52, which is moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.52 over 3. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 426.1 %².
Among the 36 assets we track against CMI, MLI ranks #22 by 3-year correlation. On 12-month performance CMI holds a 10.7-point edge, +45.1% against +34.4%.
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 MLI: side by side
| CMI (Cummins) | MLI (Mueller Industries, Inc.) | |
|---|---|---|
| 1-year return | +45.1% | +34.4% |
| 5-year return | +169.6% | +509.6% |
| Volatility (ann.) | 25.9% | 31.5% |
| Beta vs S&P 500 | 1.05 | 0.93 |
| Max drawdown (3Y) | -30.5% | -27.8% |
| Market cap | $79.0B | $14.2B |
| P/E (trailing) | 29.6 | 16.7 |
| Dividend yield | 1.38% | 0.94% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | CMI | MLI |
|---|---|---|
| 2022 | +14.1% | +1.0% |
| 2023 | +1.7% | +62.4% |
| 2024 | +48.9% | +70.5% |
| 2025 | +49.4% | +46.3% |
| 2026 | +13.6% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMI and MLI good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CMI and MLI?
The CMI/MLI correlation stands at 0.52 on a 3-year window (1 year: 0.52, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is MLI a good diversifier for CMI?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 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.
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Related comparisons
Hubs: CMI correlations · MLI correlations
