Fortive Corp Correlations

FTV Stock

USD 53.08 0.28 0.53%

The current 90-days correlation between Fortive Corp and Fabrinet is 0.04 (i.e., Significant 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

Poor diversification

The correlation between Fortive Corp and DJI is 0.73 (i.e., Poor 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.

Build AI portfolio with Fortive Stock

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 population.

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

Moving together with Fortive Stock

0.78	WMT	Walmart Common Stock	Pair Corr
0.77	SAR	Saratoga Investment Corp	Pair Corr
0.82	ACN	Accenture plc	Pair Corr
0.72	VLKAF	Volkswagen AG	Pair Corr
0.76	VWAGY	Volkswagen AG 110	Pair Corr
0.75	VLKPF	Volkswagen AG VZO	Pair Corr
0.74	MRK	Merck Company Earnings Call This Week	Pair Corr
0.62	JNJ	Johnson Johnson	Pair Corr
0.62	BAC	Bank of America Aggressive Push	Pair Corr
0.61	AXP	American Express Earnings Call Today	Pair Corr
0.71	AA	Alcoa Corp	Pair Corr

Moving against Fortive Stock

0.55	HNHPF	Hon Hai Precision	Pair Corr
0.47	MSFT	Microsoft	Pair Corr
0.45	T	ATT Inc Earnings Call This Week	Pair Corr
0.43	JD	JD Inc Adr	Pair Corr

Related Correlations Analysis

	FN	TRMB	GEN	CPAY	LOGI	IT	GDDY	GIB	FFIV	COHR
FN		0.07	-0.02	0.37	-0.2	0.16	-0.29	0.26	0.71	0.78	FN
TRMB	0.07		0.7	-0.13	0.59	0.35	0.66	0.37	-0.09	-0.13	TRMB
GEN	-0.02	0.7		0.12	0.34	0.55	0.51	0.57	-0.09	-0.04	GEN
CPAY	0.37	-0.13	0.12		-0.72	0.09	-0.7	0.71	0.47	0.55	CPAY
LOGI	-0.2	0.59	0.34	-0.72		-0.06	0.89	-0.39	-0.49	-0.49	LOGI
IT	0.16	0.35	0.55	0.09	-0.06		0.23	0.53	0.44	0.29	IT
GDDY	-0.29	0.66	0.51	-0.7	0.89	0.23		-0.21	-0.48	-0.51	GDDY
GIB	0.26	0.37	0.57	0.71	-0.39	0.53	-0.21		0.33	0.32	GIB
FFIV	0.71	-0.09	-0.09	0.47	-0.49	0.44	-0.48	0.33		0.82	FFIV
COHR	0.78	-0.13	-0.04	0.55	-0.49	0.29	-0.51	0.32	0.82		COHR
	FN	TRMB	GEN	CPAY	LOGI	IT	GDDY	GIB	FFIV	COHR

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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

GDDY	+ 0.89	LOGI
COHR	+ 0.82	FFIV
COHR	+ 0.78	FN
FFIV	+ 0.71	FN
GIB	+ 0.71	CPAY
GEN	+ 0.7	TRMB

High negative correlations

LOGI	- 0.72	CPAY
GDDY	- 0.7	CPAY
COHR	- 0.51	GDDY
COHR	- 0.49	LOGI
FFIV	- 0.49	LOGI
FFIV	- 0.48	GDDY

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
FN	3.05	0.17	0.05	0.15	4.15	(3.09)	5.63	(5.86)	17.48
TRMB	1.32	(0.21)	0.00	(1.26)	0.00	0.00	2.64	(3.70)	9.57
GEN	1.09	(0.23)	0.00	(0.21)	0.00	0.00	2.03	(3.23)	7.70
CPAY	1.60	0.12	0.07	0.13	1.81	(1.80)	3.76	(3.06)	11.04
LOGI	1.65	(0.38)	0.00	(0.36)	0.00	0.00	2.58	(4.56)	11.76
IT	1.64	(0.29)	0.00	(0.19)	0.00	0.00	4.38	(4.50)	11.37
GDDY	1.16	(0.45)	0.00	(0.65)	0.00	0.00	1.77	(3.27)	9.52
GIB	1.02	(0.07)	0.00	(0.03)	0.00	0.00	1.97	(2.15)	10.29
FFIV	1.40	0.14	0.09	0.18	1.35	(1.56)	3.75	(2.29)	9.19
COHR	3.40	0.85	0.20	0.85	3.56	(3.76)	7.90	(5.22)	28.98

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