Roper Technologies Correlations

ROP Stock

USD 315.53 5.88 1.83%

The current 90-days correlation between Roper Technologies and Ametek Inc is 0.07 (i.e., Significant diversification). The correlation of Roper Technologies 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.

Roper Technologies Correlation With Market

Excellent diversification

The correlation between Roper Technologies and DJI is -0.63 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Roper Technologies and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Roper Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Roper Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

To learn how to invest in Roper Stock, please use our How to Invest in Roper Technologies guide.

Moving together with Roper Stock

0.69	FJIA	FUJIFILM HDGS P	Pair Corr
0.82	FBYD	Falcons Beyond Global Downward Rally	Pair Corr
0.61	ODET	Compagnie de lOdet	Pair Corr

Moving against Roper Stock

0.94	HON	HONEYWELL CDR	Pair Corr
0.94	HON	Honeywell International	Pair Corr
0.92	ALD	Honeywell International	Pair Corr
0.87	S0V	Seaboard	Pair Corr
0.85	WWG	Wiseway Group Earnings Call This Week	Pair Corr
0.85	2CK	CK Hutchison Holdings	Pair Corr
0.85	CSL	Carlisle Companies	Pair Corr
0.84	XEB	Sojitz	Pair Corr
0.8	MMG	Mitsui Mining Smelting	Pair Corr
0.33	BYW6	BayWa AG vNa	Pair Corr
0.96	TIJ	Teijin Limited	Pair Corr
0.89	NBO	Nisshinbo Holdings	Pair Corr
0.88	SWI	Swire Pacific Limited	Pair Corr
0.86	TCM1	Siam Cement	Pair Corr
0.83	SUI	Sekisui Chemical	Pair Corr
0.82	GFF	Griffon	Pair Corr
0.78	IWA	Iwatani	Pair Corr
0.74	IOC	ITOCHU	Pair Corr
0.62	NQL1	Bidvest Group	Pair Corr
0.31	BYW	BayWa Aktiengesellschaft	Pair Corr

Related Correlations Analysis

	AME	ROK	FERG	GWW	FAST	SYM	CARR	XYL	PCAR	CMI
AME		0.67	0.58	0.95	0.92	-0.24	0.87	-0.41	0.95	0.94	AME
ROK	0.67		0.33	0.63	0.59	0.09	0.41	0.08	0.78	0.79	ROK
FERG	0.58	0.33		0.51	0.66	0.0	0.8	-0.1	0.47	0.56	FERG
GWW	0.95	0.63	0.51		0.95	-0.28	0.85	-0.44	0.93	0.88	GWW
FAST	0.92	0.59	0.66	0.95		-0.31	0.91	-0.35	0.87	0.84	FAST
SYM	-0.24	0.09	0.0	-0.28	-0.31		-0.23	0.29	-0.15	-0.11	SYM
CARR	0.87	0.41	0.8	0.85	0.91	-0.23		-0.43	0.75	0.77	CARR
XYL	-0.41	0.08	-0.1	-0.44	-0.35	0.29	-0.43		-0.4	-0.35	XYL
PCAR	0.95	0.78	0.47	0.93	0.87	-0.15	0.75	-0.4		0.97	PCAR
CMI	0.94	0.79	0.56	0.88	0.84	-0.11	0.77	-0.35	0.97		CMI
	AME	ROK	FERG	GWW	FAST	SYM	CARR	XYL	PCAR	CMI

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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

CMI	+ 0.97	PCAR
GWW	+ 0.95	AME
PCAR	+ 0.95	AME
FAST	+ 0.95	GWW
CMI	+ 0.94	AME
PCAR	+ 0.93	GWW

High negative correlations

XYL	- 0.44	GWW
XYL	- 0.43	CARR
XYL	- 0.41	AME
PCAR	- 0.4	XYL
CMI	- 0.35	XYL
XYL	- 0.35	FAST

Risk-Adjusted Indicators

There is a big difference between Roper Stock performing well and Roper Technologies 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 Roper Technologies' 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
AME	0.91	0.21	0.21	0.27	0.76	(1.06)	1.87	(1.34)	6.22
ROK	1.38	(0.08)	(0.02)	0.00	2.05	(1.31)	2.72	(2.88)	10.12
FERG	1.31	(0.02)	0.00	0.03	2.09	(1.26)	3.03	(2.56)	11.07
GWW	1.18	0.23	0.14	0.23	1.51	(1.36)	3.46	(2.33)	12.51
FAST	1.27	0.12	0.09	0.14	1.28	(1.40)	3.32	(2.23)	7.79
SYM	4.39	(0.18)	0.00	(0.01)	0.00	0.00	9.37	(6.94)	60.87
CARR	1.40	0.19	0.14	0.19	1.23	(1.64)	4.09	(2.10)	7.85
XYL	1.15	(0.28)	0.00	(0.19)	0.00	0.00	1.77	(3.08)	11.41
PCAR	1.29	0.37	0.34	0.36	0.75	(1.72)	3.25	(1.52)	9.11
CMI	1.56	0.28	0.12	0.19	2.26	(1.67)	2.87	(2.50)	15.60

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