CMI vs VTV: Correlation
Cummins (CMI) and Vanguard Value ETF (VTV) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMI and VTV?
On 3 years of weekly data the CMI/VTV correlation comes out at 0.60, strong. The link has loosened recently: the 1-year correlation (0.33) runs below the 3-year figure (0.60). The 5-year figure is 0.65, and annualized covariance runs at 183.9 %².
Within CMI's tracked universe of 36 assets, VTV comes in at #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CMI ahead by 19.4 points (+45.1% versus +25.7%). On a rolling one-year basis the correlation drifted between 0.33 and 0.81, a moderate band. Risk is not evenly split, since CMI carries 2.2 times the volatility of the other side.
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 VTV: side by side
| CMI (Cummins) | VTV (Vanguard Value ETF) | |
|---|---|---|
| 1-year return | +45.1% | +25.7% |
| 5-year return | +169.6% | +79.1% |
| Volatility (ann.) | 25.9% | 11.9% |
| Beta vs S&P 500 | 1.05 | 0.65 |
| Max drawdown (3Y) | -30.5% | -14.5% |
| Market cap | $79.0B | – |
| P/E (trailing) | 29.6 | – |
| Dividend yield | 1.38% | 1.86% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $256.4B |
| Sector / category | Industrials | ETF · US Style |
On the fund side, VTV sits in the Large Value category at Vanguard, with $256.4B under management, 308 holdings, a 0.03% expense ratio, a 1.86% trailing dividend yield.
Year-by-year returns
| Year | CMI | VTV |
|---|---|---|
| 2022 | +14.1% | -2.1% |
| 2023 | +1.7% | +9.3% |
| 2024 | +48.9% | +16.0% |
| 2025 | +49.4% | +15.3% |
| 2026 | +13.6% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
CMI represents 0.33% of VTV's portfolio, so part of any move in VTV is CMI itself, and the correlation between them is partly mechanical.
Are CMI and VTV good diversifiers for each other?
To a limited degree. At 0.60 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 VTV?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.33 over the last year and 0.65 over 5 years.
Is VTV a good diversifier for CMI?
To a limited degree. At 0.60 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 0.60 mean?
On the −1 to +1 scale, 0.60 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cmi-vs-vtv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cmi-vs-vtv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CMI correlations · VTV correlations
