CMI vs PH: Correlation
Measured on weekly returns over the past three years, Cummins (CMI) and Parker Hannifin (PH) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMI and PH?
Across a 3-year window, the weekly returns of CMI and PH correlate at 0.65, strong. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Stretching to 5 years gives 0.66, with an annualized covariance of 447.8 %².
Few assets follow CMI as closely as PH, which ranks #3 of 36 tracked partners. On 12-month performance CMI holds a 12.3-point edge, +45.1% against +32.8%. On a rolling one-year basis the correlation drifted between 0.41 and 0.81, a moderate band.
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 PH: side by side
| CMI (Cummins) | PH (Parker Hannifin) | |
|---|---|---|
| 1-year return | +45.1% | +32.8% |
| 5-year return | +169.6% | +256.4% |
| Volatility (ann.) | 25.9% | 26.6% |
| Beta vs S&P 500 | 1.05 | 1.16 |
| Max drawdown (3Y) | -30.5% | -26.8% |
| Market cap | $79.0B | $127.5B |
| P/E (trailing) | 29.6 | 36.5 |
| Dividend yield | 1.38% | 0.71% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | CMI | PH |
|---|---|---|
| 2022 | +14.1% | -6.9% |
| 2023 | +1.7% | +60.8% |
| 2024 | +48.9% | +39.6% |
| 2025 | +49.4% | +39.5% |
| 2026 | +13.6% | +15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMI and PH good diversifiers for each other?
To a limited degree. At 0.65 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 PH?
As of 2026-08-27, the correlation of weekly returns between CMI and PH is 0.65 over 3 years, 0.61 over 1 year and 0.66 over 5 years.
Is PH a good diversifier for CMI?
To a limited degree. At 0.65 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 0.65 mean?
A reading of 0.65 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-ph.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cmi-vs-ph/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CMI correlations · PH correlations
