Fortive Correlations

F03 Stock

EUR 74.80 0.06 0.08%

The current 90-days correlation between Fortive and NXP Semiconductors NV is 0.59 (i.e., Very weak diversification). The correlation of Fortive 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.

Fortive Correlation With Market

Poor diversification

The correlation between Fortive and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fortive and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Fortive could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fortive when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Fortive - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Fortive to buy it.

Moving together with Fortive Stock

0.85	1KT	Keysight Technologies	Pair Corr
0.67	TYZ	Teledyne Technologies	Pair Corr
0.73	TB5	Trimble	Pair Corr
0.82	74F	LIFE BANC SPLIT	Pair Corr
0.69	E908	Lyxor 1	Pair Corr

Moving against Fortive Stock

0.71	SG9	Strix Group Plc	Pair Corr
0.65	DBPD	Xtrackers ShortDAX	Pair Corr
0.5	0KJ	ABERFORTH SMCOS TRLS	Pair Corr
0.31	HXGC	HEXAGON AB ADR1	Pair Corr

Related Correlations Analysis

	TOW	BMT	8KH	VNX	BMT	RZH	BSI	XFB
TOW		0.33	-0.69	0.35	0.32	0.13	0.15	-0.46	TOW
BMT	0.33		-0.54	-0.34	0.98	0.64	0.35	-0.43	BMT
8KH	-0.69	-0.54		0.11	-0.54	-0.21	0.14	0.76	8KH
VNX	0.35	-0.34	0.11		-0.35	-0.06	-0.04	0.12	VNX
BMT	0.32	0.98	-0.54	-0.35		0.6	0.34	-0.42	BMT
RZH	0.13	0.64	-0.21	-0.06	0.6		0.15	-0.4	RZH
BSI	0.15	0.35	0.14	-0.04	0.34	0.15		0.17	BSI
XFB	-0.46	-0.43	0.76	0.12	-0.42	-0.4	0.17		XFB
	TOW	BMT	8KH	VNX	BMT	RZH	BSI	XFB

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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

BMT	+ 0.98	BMT
XFB	+ 0.76	8KH
RZH	+ 0.64	BMT
RZH	+ 0.6	BMT
VNX	+ 0.35	TOW
BSI	+ 0.35	BMT

High negative correlations

8KH	- 0.69	TOW
BMT	- 0.54	8KH
8KH	- 0.54	BMT
XFB	- 0.46	TOW
XFB	- 0.43	BMT
XFB	- 0.42	BMT

Risk-Adjusted Indicators

There is a big difference between Fortive Stock performing well and Fortive 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'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
TOW	2.34	0.03	0.03	0.14	3.03	(2.39)	4.60	(4.64)	17.81
BMT	0.73	0.14	(0.01)	(0.59)	0.89	(0.79)	1.60	(1.69)	4.57
8KH	1.42	(0.48)	0.00	(0.37)	0.00	0.00	2.84	(3.74)	9.03
VNX	1.48	(0.22)	0.00	(0.04)	0.00	0.00	2.88	(3.15)	13.22
BMT	0.99	0.17	(0.01)	(0.29)	1.27	(1.01)	2.41	(2.50)	6.32
RZH	2.20	0.28	0.03	(0.82)	2.68	(3.41)	6.36	(4.10)	21.53
BSI	2.06	(0.19)	0.00	(0.09)	0.00	0.00	4.64	(4.41)	13.50
XFB	1.96	(0.43)	0.00	(0.65)	0.00	0.00	4.54	(5.48)	12.04

Be your own money manager

Our tools can tell you how much better you can do entering a position in Fortive without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Fortive Corporate Management

Elected by the shareholders, the Fortive's board of directors comprises two types of representatives: Fortive inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Fortive. The board's role is to monitor Fortive's management team and ensure that shareholders' interests are well served. Fortive's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Fortive's outside directors are responsible for providing unbiased perspectives on the board's policies.

Christopher Mulhall	VP Officer	Profile
Victor III	Chief Officer	Profile
Olumide Soroye	Pres Segment	Profile
Edward Simmons	VP Strategy	Profile
Griffin Whitney	VP Relations	Profile

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