CMI vs. IEX
CMI (Cummins Inc.) and IEX (IDEX Corporation) are both stocks. Both operate in the Specialty Industrial Machinery industry within the Industrials sector. Over the past 10 years, CMI returned 21.10%/yr vs 11.29%/yr for IEX. Their 0.45 correlation means their historical movements had little consistent relationship.
Performance
CMI vs. IEX - Performance Comparison
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Returns By Period
In the year-to-date period, CMI achieves a 25.05% return, which is significantly lower than IEX's 30.87% return. Over the past 10 years, CMI has outperformed IEX with an annualized return of 21.10%, while IEX has yielded a comparatively lower 11.29% annualized return.
CMI
- 1D
- 0.19%
- 1M
- -4.16%
- 6M
- 10.28%
- YTD
- 25.05%
- 1Y
- 81.08%
- 3Y*
- 36.66%
- 5Y*
- 25.16%
- 10Y*
- 21.10%
- ALL TIME*
- 13.13%
IEX
- 1D
- -1.42%
- 1M
- 3.30%
- 6M
- 16.86%
- YTD
- 30.87%
- 1Y
- 46.98%
- 3Y*
- 2.68%
- 5Y*
- 1.63%
- 10Y*
- 11.29%
- ALL TIME*
- 12.55%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
CMI Cummins Inc. | $594.50M | $582.86M | $699.47M |
| $208.67M | $171.00M | $158.82M |
CMI vs. IEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CMI Cummins Inc. | 25.05% | 49.36% | 48.92% | 1.72% | 14.09% | -1.68% | 30.50% | 38.04% | -22.06% | 32.74% |
IEX IDEX Corporation | 30.87% | -13.69% | -2.35% | -3.80% | -2.22% | 19.82% | 17.22% | 37.94% | -3.16% | 48.53% |
Correlation
The correlation between CMI and IEX is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.54 |
Correlation (3Y) Balances recent behavior with more history. | 0.57 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.56 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 1991 | 0.45 |
The correlation between CMI and IEX shifts across timeframes, from 0.45 (all time) to 0.59 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
CMI:
$87.51B
IEX:
$16.99B
CMI:
$19.26
IEX:
$6.96
CMI:
32.93
IEX:
33.11
CMI:
0.37
IEX:
9.77
CMI:
2.60
IEX:
4.80
CMI:
7.13
IEX:
4.27
CMI:
$33.89B
IEX:
$3.59B
CMI:
$8.60B
IEX:
$1.60B
CMI:
$4.87B
IEX:
$904.40M
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Return for Risk
CMI vs. IEX — Risk / Return Rank
CMI
IEX
CMI vs. IEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cummins Inc. (CMI) and IDEX Corporation (IEX). 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.
| CMI | IEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.32 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.53 | 2.98 | +1.54 |
| Martin ratioReturn relative to average drawdown | 14.48 | 9.87 | +4.61 |
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Drawdowns
CMI vs. IEX - Drawdown Comparison
The maximum CMI drawdown since its inception was -75.66%, smaller than the maximum IEX drawdown of -81.60%. Use the drawdown chart below to compare losses from any high point for CMI and IEX.
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Drawdown Indicators
| CMI | IEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.66% | -81.60% | +5.94% |
Max Drawdown (1Y)Largest decline over 1 year | -16.71% | -14.49% | -2.22% |
Max Drawdown (3Y)Largest decline over 3 years | -30.48% | -34.60% | +4.12% |
Max Drawdown (5Y)Largest decline over 5 years | -30.48% | -34.60% | +4.12% |
Max Drawdown (10Y)Largest decline over 10 years | -44.05% | -35.52% | -8.53% |
Current DrawdownCurrent decline from peak | -12.84% | -2.90% | -9.94% |
Average DrawdownAverage peak-to-trough decline | -22.17% | -11.41% | -10.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.22% | 4.39% | +0.83% |
Volatility
CMI vs. IEX - Volatility Comparison
Cummins Inc. (CMI) has a higher volatility of 10.87% compared to IDEX Corporation (IEX) at 5.53%. This indicates that CMI's price experiences larger fluctuations and is considered to be riskier than IEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMI | IEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.87% | 5.53% | +5.34% |
Volatility (6M)Calculated over the trailing 6-month period | 31.16% | 17.02% | +14.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.45% | 23.27% | +13.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.85% | 24.06% | +4.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.51% | 24.20% | +4.31% |
Dividends
CMI vs. IEX - Dividend Comparison
CMI's dividend yield for the trailing twelve months is around 1.26%, which matches IEX's 1.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMI Cummins Inc. | 1.26% | 1.50% | 2.01% | 2.71% | 2.49% | 2.57% | 2.33% | 2.74% | 3.32% | 2.38% | 2.93% | 3.99% |
IEX IDEX Corporation | 1.25% | 1.58% | 1.29% | 1.16% | 1.02% | 0.90% | 1.00% | 1.12% | 1.31% | 1.10% | 1.49% | 1.62% |
Financials
CMI vs. IEX - Financials Comparison
This section allows you to compare key financial metrics between Cummins Inc. and IDEX Corporation. 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
CMI vs. IEX - Profitability Comparison
CMI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Cummins Inc. reported a gross profit of 2.24B and revenue of 8.40B. Therefore, the gross margin over that period was 26.7%.
IEX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, IDEX Corporation reported a gross profit of 426.80M and revenue of 920.60M. Therefore, the gross margin over that period was 46.4%.
CMI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Cummins Inc. reported an operating income of 949.00M and revenue of 8.40B, resulting in an operating margin of 11.3%.
IEX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, IDEX Corporation reported an operating income of 199.90M and revenue of 920.60M, resulting in an operating margin of 21.7%.
CMI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Cummins Inc. reported a net income of 654.00M and revenue of 8.40B, resulting in a net margin of 7.8%.
IEX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, IDEX Corporation reported a net income of 143.40M and revenue of 920.60M, resulting in a net margin of 15.6%.
Frequently Asked Questions
CMI and IEX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CMI has higher volatility (10.87%) compared to IEX (5.53%). In terms of maximum drawdown, CMI dropped -75.66% vs IEX's -81.60%.
CMI currently has the higher Sharpe Ratio (2.08 vs 1.86), 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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