CMI vs RVT: Correlation
Measured on weekly returns over the past three years, Cummins (CMI) and Royce Small-Cap Trust, Inc. (RVT) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMI and RVT?
Across a 3-year window, the weekly returns of CMI and RVT correlate at 0.61, strong. The past 12 months show a weaker link (0.43) than the 3-year average (0.61). Stretching to 5 years gives 0.63, with an annualized covariance of 299.9 %².
By 3-year correlation, RVT places #9 of the 36 assets tracked against CMI. The last year tells two different stories: CMI led by 17.7 percentage points, +45.1% for CMI against +27.4% for RVT.
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 RVT: side by side
| CMI (Cummins) | RVT (Royce Small-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | +45.1% | +27.4% |
| 5-year return | +169.6% | +53.9% |
| Volatility (ann.) | 25.9% | 19.1% |
| Beta vs S&P 500 | 1.05 | 0.99 |
| Max drawdown (3Y) | -30.5% | -23.5% |
| Market cap | $79.0B | $2.3B |
| P/E (trailing) | 29.6 | 6.5 |
| Dividend yield | 1.38% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | CMI | RVT |
|---|---|---|
| 2022 | +14.1% | -26.3% |
| 2023 | +1.7% | +18.8% |
| 2024 | +48.9% | +17.9% |
| 2025 | +49.4% | +11.5% |
| 2026 | +13.6% | +21.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMI and RVT good diversifiers for each other?
To a limited degree. At 0.61 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 RVT?
The CMI/RVT correlation stands at 0.61 on a 3-year window (1 year: 0.43, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is RVT a good diversifier for CMI?
To a limited degree. At 0.61 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 0.61 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-rvt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cmi-vs-rvt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CMI correlations · RVT correlations
