CNH vs DE: Correlation
Measured on weekly returns over the past three years, CNH Industrial N.V. (CNH) and Deere & Company (DE) carry a correlation of 0.78, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNH and DE?
Over the past 3 years, CNH and DE moved with a correlation of 0.78, which is strong. Recent behaviour matches the longer record: 0.79 over 1 year against 0.78 over 3. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 697.1 %².
In CNH's tracked universe of 15 assets, DE sits right near the top at #1. The last year tells two different stories: DE led by 32.3 percentage points, -4.4% for CNH against +27.9% for DE.
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.
CNH vs DE: side by side
| CNH (CNH Industrial N.V.) | DE (Deere & Company) | |
|---|---|---|
| 1-year return | -4.4% | +27.9% |
| 5-year return | -12.0% | +74.5% |
| Volatility (ann.) | 33.5% | 26.7% |
| Beta vs S&P 500 | 0.73 | 0.65 |
| Max drawdown (3Y) | -33.2% | -19.9% |
| Market cap | $18.4B | $168.1B |
| P/E (trailing) | 45.7 | 35.2 |
| Dividend yield | 0.86% | 1.02% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CNH | DE |
|---|---|---|
| 2022 | -3.2% | +26.6% |
| 2023 | -22.0% | -5.5% |
| 2024 | -3.1% | +7.6% |
| 2025 | -17.1% | +11.4% |
| 2026 | +25.2% | +34.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNH and DE good diversifiers for each other?
To a limited degree. At 0.78 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 CNH and DE?
Using weekly returns as of 2026-08-27: 0.78 over 3 years, with 0.79 over the last year and 0.69 over 5 years.
Is DE a good diversifier for CNH?
To a limited degree. At 0.78 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 0.78 mean?
On the −1 to +1 scale, 0.78 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/cnh-vs-de.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cnh-vs-de/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNH correlations · DE correlations
