CMI vs PCAR: Correlation
Measured on weekly returns over the past three years, Cummins (CMI) and Paccar (PCAR) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMI and PCAR?
On 3 years of weekly data the CMI/PCAR correlation comes out at 0.54, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.42 versus 0.54 over 3 years. The 5-year figure is 0.66, and annualized covariance runs at 337.1 %².
Among the 36 assets we track against CMI, PCAR ranks #21 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CMI ahead by 17.3 points (+45.1% versus +27.8%). Across three years, the rolling one-year figure varied moderately, from 0.42 to 0.84.
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 PCAR: side by side
| CMI (Cummins) | PCAR (Paccar) | |
|---|---|---|
| 1-year return | +45.1% | +27.8% |
| 5-year return | +169.6% | +177.9% |
| Volatility (ann.) | 25.9% | 24.1% |
| Beta vs S&P 500 | 1.05 | 0.74 |
| Max drawdown (3Y) | -30.5% | -27.7% |
| Market cap | $79.0B | $66.6B |
| P/E (trailing) | 29.6 | 26.6 |
| Dividend yield | 1.38% | 1.04% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | CMI | PCAR |
|---|---|---|
| 2022 | +14.1% | +17.0% |
| 2023 | +1.7% | +55.0% |
| 2024 | +48.9% | +10.8% |
| 2025 | +49.4% | +8.0% |
| 2026 | +13.6% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMI and PCAR good diversifiers for each other?
Only partially. A correlation of 0.54 means CMI and PCAR 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 PCAR?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.42 over the last year and 0.66 over 5 years.
Is PCAR a good diversifier for CMI?
Only partially. A correlation of 0.54 means CMI and PCAR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
A reading of 0.54 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-pcar.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cmi-vs-pcar/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CMI correlations · PCAR correlations
