CM vs. CAT
CM (Canadian Imperial Bank of Commerce) and CAT (Caterpillar Inc.) are both stocks. CM operates in Banks - Diversified (Financial Services), while CAT operates in Farm & Heavy Construction Machinery (Industrials). Over the past 10 years, CM returned 17.15%/yr vs 32.10%/yr for CAT. At a 0.44 correlation, their price movements are largely independent.
Performance
CM vs. CAT - Performance Comparison
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Returns By Period
In the year-to-date period, CM achieves a 24.28% return, which is significantly lower than CAT's 72.82% return. Over the past 10 years, CM has underperformed CAT with an annualized return of 17.15%, while CAT has yielded a comparatively higher 32.10% annualized return.
CM
- 1D
- -1.05%
- 1M
- -3.29%
- YTD
- 24.28%
- 6M
- 22.27%
- 1Y
- 67.98%
- 3Y*
- 43.12%
- 5Y*
- 20.06%
- 10Y*
- 17.15%
CAT
- 1D
- 3.13%
- 1M
- 12.04%
- YTD
- 72.82%
- 6M
- 71.81%
- 1Y
- 176.40%
- 3Y*
- 61.41%
- 5Y*
- 38.86%
- 10Y*
- 32.10%
CM vs. CAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CM Canadian Imperial Bank of Commerce | 24.28% | 49.02% | 37.83% | 27.23% | -25.71% | 42.29% | 9.25% | 19.22% | -19.75% | 26.58% |
CAT Caterpillar Inc. | 72.82% | 60.30% | 24.66% | 25.95% | 18.60% | 15.95% | 26.97% | 19.51% | -17.56% | 75.03% |
Correlation
The correlation between CM and CAT is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 1997 | 0.44 |
The correlation between CM and CAT has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.
Fundamentals
CM:
$75.95B
CAT:
$459.19B
CM:
CA$12.14
CAT:
$20.07
CM:
13.01
CAT:
49.12
CM:
1.61
CAT:
3.25
CM:
2.07
CAT:
6.54
CM:
1.84
CAT:
24.61
CM:
CA$61.84B
CAT:
$70.76B
CM:
CA$28.74B
CAT:
$23.01B
CM:
CA$13.01B
CAT:
$15.31B
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Return for Risk
CM vs. CAT — Risk / Return Rank
CM
CAT
CM vs. CAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Imperial Bank of Commerce (CM) and Caterpillar Inc. (CAT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CM | CAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.71 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 6.43 | 12.83 | -6.40 |
| Martin ratioReturn relative to average drawdown | 25.18 | 42.03 | -16.85 |
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Drawdowns
CM vs. CAT - Drawdown Comparison
The maximum CM drawdown since its inception was -71.70%, roughly equal to the maximum CAT drawdown of -73.43%. Use the drawdown chart below to compare losses from any high point for CM and CAT.
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Drawdown Indicators
| CM | CAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.70% | -73.43% | +1.73% |
Max Drawdown (1Y)Largest decline over 1 year | -10.79% | -13.88% | +3.09% |
Max Drawdown (3Y)Largest decline over 3 years | -19.47% | -34.05% | +14.58% |
Max Drawdown (5Y)Largest decline over 5 years | -40.61% | -34.05% | -6.56% |
Max Drawdown (10Y)Largest decline over 10 years | -47.82% | -43.36% | -4.46% |
Current DrawdownCurrent decline from peak | -3.53% | 0.00% | -3.53% |
Average DrawdownAverage peak-to-trough decline | -14.65% | -19.73% | +5.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 4.23% | -1.48% |
Volatility
CM vs. CAT - Volatility Comparison
The current volatility for Canadian Imperial Bank of Commerce (CM) is 7.78%, while Caterpillar Inc. (CAT) has a volatility of 12.57%. This indicates that CM experiences smaller price fluctuations and is considered to be less risky than CAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CM | CAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.78% | 12.57% | -4.79% |
Volatility (6M)Calculated over the trailing 6-month period | 16.02% | 28.09% | -12.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.03% | 35.27% | -16.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.41% | 30.80% | -9.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.61% | 31.00% | -8.39% |
Dividends
CM vs. CAT - Dividend Comparison
CM's dividend yield for the trailing twelve months is around 2.65%, more than CAT's 0.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAT Caterpillar Inc. | 0.61% | 1.02% | 1.49% | 1.69% | 1.93% | 2.07% | 2.26% | 2.56% | 2.58% | 1.97% | 3.32% | 4.33% |
CM Canadian Imperial Bank of Commerce | 2.65% | 3.17% | 4.21% | 5.88% | 7.77% | 4.08% | 5.06% | 6.47% | 5.48% | 5.28% | 5.93% | 6.71% |
Financials
CM vs. CAT - Financials Comparison
This section allows you to compare key financial metrics between Canadian Imperial Bank of Commerce and Caterpillar Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
CM vs. CAT - Profitability Comparison
CM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Canadian Imperial Bank of Commerce reported a gross profit of 7.36B and revenue of 15.22B. Therefore, the gross margin over that period was 48.4%.
CAT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Caterpillar Inc. reported a gross profit of 6.11B and revenue of 17.42B. Therefore, the gross margin over that period was 35.1%.
CM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Canadian Imperial Bank of Commerce reported an operating income of 3.20B and revenue of 15.22B, resulting in an operating margin of 21.0%.
CAT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Caterpillar Inc. reported an operating income of 3.09B and revenue of 17.42B, resulting in an operating margin of 17.7%.
CM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Canadian Imperial Bank of Commerce reported a net income of 2.46B and revenue of 15.22B, resulting in a net margin of 16.1%.
CAT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Caterpillar Inc. reported a net income of 2.55B and revenue of 17.42B, resulting in a net margin of 14.6%.
Frequently Asked Questions
CM and CAT have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CAT has higher volatility (12.57%) compared to CM (7.78%). In terms of maximum drawdown, CM dropped -71.70% vs CAT's -73.43%.
CAT currently has the higher Sharpe Ratio (5.05 vs 3.65), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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