Caterpillar Correlations

CAT Stock

USD 342.36 3.44 1.01%

The current 90-days correlation between Caterpillar and Ideanomics is 0.12 (i.e., Average diversification). The correlation of Caterpillar is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Caterpillar Correlation With Market

Weak diversification

The correlation between Caterpillar and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Caterpillar and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Caterpillar. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For more information on how to buy Caterpillar Stock please use our How to Invest in Caterpillar guide.

Moving together with Caterpillar Stock

0.76	HY	Hyster Yale Materials	Pair Corr
0.81	TEX	Terex	Pair Corr
0.67	WNC	Wabash National	Pair Corr
0.65	NKLA	Nikola Corp	Pair Corr
0.78	PCAR	PACCAR Inc	Pair Corr
0.85	ASTE	Astec Industries Earnings Call Today	Pair Corr
0.73	SHYF	Shyft Group	Pair Corr
0.68	CMCO	Columbus McKinnon	Pair Corr
0.86	J	Jacobs Solutions	Pair Corr
0.74	BV	BrightView Holdings	Pair Corr
0.78	CW	Curtiss Wright	Pair Corr

Moving against Caterpillar Stock

0.47	CEADW	CEA Industries Warrant	Pair Corr
0.63	BA	Boeing	Pair Corr
0.56	EH	Ehang Holdings	Pair Corr
0.42	BZ	Kanzhun Ltd ADR	Pair Corr

Related Correlations Analysis

	IDEX	AQUI	LBHIX	MSTSX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF	RWAYL
IDEX		0.62	0.1	0.63	-0.6	0.53	-0.65	-0.45	0.5	0.04	IDEX
AQUI	0.62		0.01	0.77	-0.8	0.6	-0.88	-0.67	0.67	-0.14	AQUI
LBHIX	0.1	0.01		0.39	-0.02	0.62	0.09	0.22	-0.12	0.63	LBHIX
MSTSX	0.63	0.77	0.39		-0.81	0.84	-0.68	-0.72	0.68	0.1	MSTSX
VIASP	-0.6	-0.8	-0.02	-0.81		-0.46	0.68	0.69	-0.71	0.37	VIASP
RRTLX	0.53	0.6	0.62	0.84	-0.46		-0.62	-0.5	0.44	0.48	RRTLX
OSHDF	-0.65	-0.88	0.09	-0.68	0.68	-0.62		0.65	-0.65	0.09	OSHDF
70082LAB3	-0.45	-0.67	0.22	-0.72	0.69	-0.5	0.65		-0.62	0.12	70082LAB3
SITKF	0.5	0.67	-0.12	0.68	-0.71	0.44	-0.65	-0.62		-0.08	SITKF
RWAYL	0.04	-0.14	0.63	0.1	0.37	0.48	0.09	0.12	-0.08		RWAYL
	IDEX	AQUI	LBHIX	MSTSX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF	RWAYL

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

RRTLX	+ 0.84	MSTSX
MSTSX	+ 0.77	AQUI
70082LAB3	+ 0.69	VIASP
SITKF	+ 0.68	MSTSX
OSHDF	+ 0.68	VIASP
SITKF	+ 0.67	AQUI

High negative correlations

OSHDF	- 0.88	AQUI
VIASP	- 0.81	MSTSX
VIASP	- 0.8	AQUI
70082LAB3	- 0.72	MSTSX
SITKF	- 0.71	VIASP
OSHDF	- 0.68	MSTSX

Risk-Adjusted Indicators

There is a big difference between Caterpillar Stock performing well and Caterpillar Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Caterpillar's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IDEX	163.24	86.28	1.25	2.46	49.25	(227.10)	809.09	(92.67)	1,094
AQUI	4.55	(2.32)	0.00	0.30	0.00	0.00	0.00	0.00	93.33
LBHIX	0.14	0.01	0.03	0.36	0.00	(0.32)	0.48	(0.24)	0.96
MSTSX	0.55	(0.07)	0.00	(0.15)	0.00	0.00	1.11	(0.92)	6.54
VIASP	0.60	0.09	0.11	0.44	0.64	(0.63)	1.10	(1.18)	4.05
RRTLX	0.26	(0.02)	0.00	0.22	0.00	0.00	0.57	(0.49)	1.79
OSHDF	8.81	4.30	0.00	0.13	0.00	0.00	0.00	0.00	260.00
70082LAB3	0.47	(0.17)	0.00	(0.74)	0.00	0.00	0.57	(2.17)	5.34
SITKF	3.62	0.07	0.01	(0.64)	4.11	(6.65)	10.00	(6.67)	29.67
RWAYL	0.17	0.03	0.09	(0.95)	0.12	(0.19)	0.49	(0.36)	1.51

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