Fortive Corp Correlations

FTV Stock

USD 78.96 0.72 0.90%

The current 90-days correlation between Fortive Corp and Sensata Technologies Holding is 0.58 (i.e., Very weak diversification). The correlation of Fortive Corp 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.

Fortive Corp Correlation With Market

Significant diversification

The correlation between Fortive Corp and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fortive Corp and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Fortive Stock

0.7

BMI

Badger Meter Fiscal Year End 24th of January 2025

Pair Corr

Moving against Fortive Stock

0.54	WATT	Energous	Pair Corr
0.49	ACFN	Acorn Energy	Pair Corr
0.75	AWIN	AERWINS Technologies	Pair Corr
0.32	TKOI	Telkonet	Pair Corr
0.31	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	VPG	ST	BMI	TRMB	MKSI	NOVT	MLAB	ITRI	COHR	TDY
VPG		0.88	-0.29	-0.73	0.21	0.56	0.75	-0.68	-0.61	-0.74	VPG
ST	0.88		-0.27	-0.8	0.14	0.51	0.71	-0.74	-0.56	-0.75	ST
BMI	-0.29	-0.27		0.58	0.33	0.15	-0.01	0.57	0.66	0.37	BMI
TRMB	-0.73	-0.8	0.58		0.14	-0.13	-0.53	0.92	0.8	0.9	TRMB
MKSI	0.21	0.14	0.33	0.14		0.14	0.04	0.13	-0.17	-0.08	MKSI
NOVT	0.56	0.51	0.15	-0.13	0.14		0.63	-0.05	0.07	-0.13	NOVT
MLAB	0.75	0.71	-0.01	-0.53	0.04	0.63		-0.44	-0.3	-0.59	MLAB
ITRI	-0.68	-0.74	0.57	0.92	0.13	-0.05	-0.44		0.74	0.84	ITRI
COHR	-0.61	-0.56	0.66	0.8	-0.17	0.07	-0.3	0.74		0.82	COHR
TDY	-0.74	-0.75	0.37	0.9	-0.08	-0.13	-0.59	0.84	0.82		TDY
	VPG	ST	BMI	TRMB	MKSI	NOVT	MLAB	ITRI	COHR	TDY

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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

ITRI	+ 0.92	TRMB
TDY	+ 0.9	TRMB
ST	+ 0.88	VPG
TDY	+ 0.84	ITRI
TDY	+ 0.82	COHR
COHR	+ 0.8	TRMB

High negative correlations

TRMB	- 0.8	ST
TDY	- 0.75	ST
ITRI	- 0.74	ST
TDY	- 0.74	VPG
TRMB	- 0.73	VPG
ITRI	- 0.68	VPG

Risk-Adjusted Indicators

There is a big difference between Fortive Stock performing well and Fortive Corp 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 Fortive Corp'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
VPG	1.73	(0.39)	0.00	(0.21)	0.00	0.00	3.24	(3.47)	11.08
ST	1.58	(0.17)	0.00	0.35	0.00	0.00	3.30	(3.01)	10.22
BMI	1.34	0.07	(0.01)	0.55	1.75	(1.44)	2.59	(2.39)	10.23
TRMB	1.31	0.10	0.19	0.16	1.11	(1.54)	2.78	(2.58)	20.46
MKSI	2.20	(0.03)	0.00	(0.33)	0.00	0.00	4.95	(3.85)	18.54
NOVT	1.45	(0.37)	0.00	(0.07)	0.00	0.00	2.84	(2.60)	14.41
MLAB	2.50	(0.57)	0.00	(0.07)	0.00	0.00	3.47	(5.50)	23.18
ITRI	1.45	0.12	0.08	0.23	1.60	(1.61)	3.35	(2.59)	10.19
COHR	2.42	0.17	0.08	0.21	2.91	(2.52)	6.27	(4.90)	15.34
TDY	0.92	0.10	0.08	0.23	0.84	(1.07)	2.31	(1.35)	8.10

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