CMI vs. NSC
CMI (Cummins Inc.) and NSC (Norfolk Southern Corporation) are both stocks. Both are in the Industrials sector — CMI in Specialty Industrial Machinery, NSC in Railroads. Over the past 10 years, CMI returned 21.10%/yr vs 16.79%/yr for NSC. Their 0.41 correlation means their historical movements had little consistent relationship.
Performance
CMI vs. NSC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CMI achieves a 25.05% return, which is significantly higher than NSC's 17.21% return. Over the past 10 years, CMI has outperformed NSC with an annualized return of 21.10%, while NSC has yielded a comparatively lower 16.79% 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%
NSC
- 1D
- 0.46%
- 1M
- 3.96%
- 6M
- 16.20%
- YTD
- 17.21%
- 1Y
- 23.72%
- 3Y*
- 15.25%
- 5Y*
- 7.65%
- 10Y*
- 16.79%
- ALL TIME*
- 12.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
CMI Cummins Inc. | $594.50M | $582.86M | $699.47M |
| $484.48M | $381.58M | $373.28M |
CMI vs. NSC - 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% |
NSC Norfolk Southern Corporation | 17.21% | 25.65% | 1.55% | -1.63% | -15.59% | 27.26% | 24.76% | 32.39% | 5.22% | 36.85% |
Correlation
The correlation between CMI and NSC is 0.25, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.25 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.45 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.50 |
Correlation (All Time) Calculated using the full available price history since Dec 18, 1984 | 0.41 |
The correlation between CMI and NSC shifts across timeframes, from 0.25 (1 year) to 0.50 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
CMI:
$87.51B
NSC:
$75.35B
CMI:
$19.26
NSC:
$15.63
CMI:
32.93
NSC:
21.46
CMI:
0.37
NSC:
3.26
CMI:
2.60
NSC:
4.51
CMI:
$33.89B
NSC:
$12.54B
CMI:
$8.60B
NSC:
$6.73B
CMI:
$4.87B
NSC:
$5.42B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CMI vs. NSC — Risk / Return Rank
CMI
NSC
CMI vs. NSC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cummins Inc. (CMI) and Norfolk Southern Corporation (NSC). 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 | NSC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.95 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.23 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 4.53 | 1.85 | +2.68 |
| Martin ratioReturn relative to average drawdown | 14.48 | 5.28 | +9.19 |
Loading charts...
Drawdowns
CMI vs. NSC - Drawdown Comparison
The maximum CMI drawdown since its inception was -75.66%, which is greater than NSC's maximum drawdown of -67.74%. Use the drawdown chart below to compare losses from any high point for CMI and NSC.
Loading charts...
Drawdown Indicators
| CMI | NSC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.66% | -67.74% | -7.92% |
Max Drawdown (1Y)Largest decline over 1 year | -16.71% | -12.47% | -4.24% |
Max Drawdown (3Y)Largest decline over 3 years | -30.48% | -25.11% | -5.37% |
Max Drawdown (5Y)Largest decline over 5 years | -30.48% | -35.64% | +5.16% |
Max Drawdown (10Y)Largest decline over 10 years | -44.05% | -44.42% | +0.37% |
Current DrawdownCurrent decline from peak | -12.84% | -4.33% | -8.51% |
Average DrawdownAverage peak-to-trough decline | -22.17% | -15.10% | -7.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.22% | 4.35% | +0.87% |
Volatility
CMI vs. NSC - Volatility Comparison
Cummins Inc. (CMI) has a higher volatility of 10.87% compared to Norfolk Southern Corporation (NSC) at 7.39%. This indicates that CMI's price experiences larger fluctuations and is considered to be riskier than NSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CMI | NSC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.87% | 7.39% | +3.48% |
Volatility (6M)Calculated over the trailing 6-month period | 31.16% | 16.78% | +14.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.45% | 20.36% | +16.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.85% | 24.96% | +3.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.51% | 27.50% | +1.01% |
Dividends
CMI vs. NSC - Dividend Comparison
CMI's dividend yield for the trailing twelve months is around 1.26%, less than NSC's 1.61% 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% |
NSC Norfolk Southern Corporation | 1.21% | 1.87% | 2.30% | 2.28% | 2.01% | 1.40% | 1.58% | 1.85% | 2.03% | 1.68% | 2.18% | 2.79% |
Financials
CMI vs. NSC - Financials Comparison
This section allows you to compare key financial metrics between Cummins Inc. and Norfolk Southern 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. NSC - 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%.
NSC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Norfolk Southern Corporation reported a gross profit of 2.32B and revenue of 3.47B. Therefore, the gross margin over that period was 66.8%.
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%.
NSC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Norfolk Southern Corporation reported an operating income of 1.12B and revenue of 3.47B, resulting in an operating margin of 32.4%.
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%.
NSC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Norfolk Southern Corporation reported a net income of 734.00M and revenue of 3.47B, resulting in a net margin of 21.2%.
Frequently Asked Questions
CMI and NSC have a correlation of 0.25, 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 NSC (7.39%). In terms of maximum drawdown, CMI dropped -75.66% vs NSC's -67.74%.
CMI currently has the higher Sharpe Ratio (2.08 vs 1.13), 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.
Find the right allocation for CMI and NSC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer