CNC vs. CAT
CNC (Centene Corporation) and CAT (Caterpillar Inc.) are both stocks. CNC operates in Healthcare Plans (Healthcare), while CAT operates in Farm & Heavy Construction Machinery (Industrials). Over the past 10 years, CNC returned 6.71%/yr vs 31.20%/yr for CAT. At a 0.28 correlation, their price movements are largely independent.
Performance
CNC vs. CAT - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with CNC having a 58.03% return and CAT slightly higher at 60.51%. Over the past 10 years, CNC has underperformed CAT with an annualized return of 6.71%, while CAT has yielded a comparatively higher 31.20% annualized return.
CNC
- 1D
- 4.33%
- 1M
- 16.21%
- YTD
- 58.03%
- 6M
- 71.67%
- 1Y
- 17.89%
- 3Y*
- -1.96%
- 5Y*
- -1.92%
- 10Y*
- 6.71%
CAT
- 1D
- 1.26%
- 1M
- 2.03%
- YTD
- 60.51%
- 6M
- 54.15%
- 1Y
- 161.94%
- 3Y*
- 59.74%
- 5Y*
- 33.67%
- 10Y*
- 31.20%
CNC vs. CAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNC Centene Corporation | 58.03% | -32.07% | -18.37% | -9.51% | -0.47% | 37.26% | -4.52% | 9.05% | 14.29% | 78.52% |
CAT Caterpillar Inc. | 60.51% | 60.30% | 24.66% | 25.95% | 18.60% | 15.95% | 26.97% | 19.51% | -17.56% | 75.03% |
Correlation
The correlation between CNC and CAT is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2001 | 0.28 |
The correlation between CNC and CAT shifts across timeframes, from 0.13 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.
Fundamentals
CNC:
$32.23B
CAT:
$426.51B
CNC:
-$13.07
CAT:
$20.07
CNC:
0.16
CAT:
6.07
CNC:
1.50
CAT:
22.86
CNC:
$198.10B
CAT:
$70.76B
CNC:
$29.57B
CAT:
$23.01B
CNC:
-$5.11B
CAT:
$15.31B
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Return for Risk
CNC vs. CAT — Risk / Return Rank
CNC
CAT
CNC vs. CAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Centene Corporation (CNC) 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.
| CNC | CAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.48 | ||
| Sortino ratioReturn per unit of downside risk | -4.66 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.69 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | 0.32 | 11.74 | -11.42 |
| Martin ratioReturn relative to average drawdown | 0.53 | 38.95 | -38.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CNC | CAT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.28 | 4.76 | -4.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.05 | 1.10 | -1.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | 1.01 | -0.84 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.35 | +0.05 |
Drawdowns
CNC vs. CAT - Drawdown Comparison
The maximum CNC drawdown since its inception was -74.07%, roughly equal to the maximum CAT drawdown of -73.43%. Use the drawdown chart below to compare losses from any high point for CNC and CAT.
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Drawdown Indicators
| CNC | CAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.07% | -73.43% | -0.64% |
Max Drawdown (1Y)Largest decline over 1 year | -55.50% | -13.88% | -41.62% |
Max Drawdown (3Y)Largest decline over 3 years | -68.65% | -34.05% | -34.60% |
Max Drawdown (5Y)Largest decline over 5 years | -74.07% | -34.05% | -40.02% |
Max Drawdown (10Y)Largest decline over 10 years | -74.07% | -43.36% | -30.71% |
Current DrawdownCurrent decline from peak | -33.11% | -2.64% | -30.47% |
Average DrawdownAverage peak-to-trough decline | -22.15% | -19.74% | -2.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.84% | 4.18% | +29.66% |
Volatility
CNC vs. CAT - Volatility Comparison
Centene Corporation (CNC) and Caterpillar Inc. (CAT) have volatilities of 11.25% and 10.77%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNC | CAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.25% | 10.77% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 36.53% | 27.35% | +9.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.57% | 34.31% | +30.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.51% | 30.67% | +8.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.53% | 30.89% | +7.64% |
Dividends
CNC vs. CAT - Dividend Comparison
CNC has not paid dividends to shareholders, while CAT's dividend yield for the trailing twelve months is around 0.66%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAT Caterpillar Inc. | 0.66% | 1.02% | 1.49% | 1.69% | 1.93% | 2.07% | 2.26% | 2.56% | 2.58% | 1.97% | 3.32% | 4.33% |
CNC Centene Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
CNC vs. CAT - Financials Comparison
This section allows you to compare key financial metrics between Centene Corporation 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
CNC vs. CAT - Profitability Comparison
CNC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Centene Corporation reported a gross profit of 10.94B and revenue of 49.94B. Therefore, the gross margin over that period was 21.9%.
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%.
CNC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Centene Corporation reported an operating income of 1.86B and revenue of 49.94B, resulting in an operating margin of 3.7%.
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%.
CNC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Centene Corporation reported a net income of 1.54B and revenue of 49.94B, resulting in a net margin of 3.1%.
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
CNC and CAT have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNC has higher volatility (11.25%) compared to CAT (10.77%). In terms of maximum drawdown, CNC dropped -74.07% vs CAT's -73.43%.
CAT currently has the higher Sharpe Ratio (4.76 vs 0.28), 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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