Roper Technologies Correlations

ROP Stock

USD 445.13 4.95 1.10%

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

Modest diversification

The correlation between Roper Technologies and DJI is 0.24 (i.e., Modest 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

0.76	SST	Steamships Trading	Pair Corr
0.65	HCMC	Healthier Choices	Pair Corr

Moving against Roper Stock

0.9	CAH	Cardinal Health	Pair Corr
0.86	LCDX	Caliber Imaging Diag	Pair Corr
0.79	DGWPF	Drgerwerk AG	Pair Corr
0.76	600805	Jiangsu Yueda Investment	Pair Corr
0.73	MMM	3M Company	Pair Corr
0.63	LUMN	Lumen Technologies	Pair Corr
0.62	MGCV	MGC Ventures	Pair Corr
0.61	CICHF	China Construction Bank	Pair Corr
0.57	CTOWY	China TowerLimited	Pair Corr
0.5	PBCRF	PT Bank Central	Pair Corr
0.46	FBYD	Falcons Beyond Global	Pair Corr
0.4	BNXAF	Banxa Holdings	Pair Corr
0.4	NMRD	Nemaura Medical	Pair Corr
0.92	CASXF	Casa Minerals	Pair Corr
0.89	CICOY	COSCO SHIPPING Holdings	Pair Corr
0.8	TMSNY	Temenos Group AG	Pair Corr
0.79	FSRL	First Reliance Bancshares	Pair Corr
0.75	NAUFF	NevGold Corp	Pair Corr
0.72	PLTK	Playtika Holding Corp	Pair Corr
0.71	ARVN	Arvinas	Pair Corr
0.68	FTV	Fortive Corp	Pair Corr
0.63	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.58	SYF	Synchrony Financial	Pair Corr
0.56	FCOB	1st Colonial Bancorp	Pair Corr
0.54	BROS	Dutch Bros	Pair Corr
0.49	DB	Deutsche Bank AG	Pair Corr
0.4	STLFF	Stillfront Group	Pair Corr
0.38	SMXWW	SMX Public Limited	Pair Corr

Related Correlations Analysis

	AME	ROK	FERG	GWW	FAST	SYM	CARR	XYL	PCAR	CMI
AME		0.87	-0.14	0.67	-0.51	-0.16	-0.59	-0.56	0.82	0.86	AME
ROK	0.87		-0.02	0.53	-0.58	-0.18	-0.7	-0.65	0.85	0.96	ROK
FERG	-0.14	-0.02		-0.5	-0.37	0.63	0.27	0.49	-0.35	-0.18	FERG
GWW	0.67	0.53	-0.5		-0.01	-0.21	-0.28	-0.46	0.82	0.57	GWW
FAST	-0.51	-0.58	-0.37	-0.01		-0.11	0.64	0.37	-0.27	-0.47	FAST
SYM	-0.16	-0.18	0.63	-0.21	-0.11		0.46	0.48	-0.29	-0.27	SYM
CARR	-0.59	-0.7	0.27	-0.28	0.64	0.46		0.88	-0.6	-0.75	CARR
XYL	-0.56	-0.65	0.49	-0.46	0.37	0.48	0.88		-0.73	-0.74	XYL
PCAR	0.82	0.85	-0.35	0.82	-0.27	-0.29	-0.6	-0.73		0.87	PCAR
CMI	0.86	0.96	-0.18	0.57	-0.47	-0.27	-0.75	-0.74	0.87		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	+ 0.96	ROK
XYL	+ 0.88	CARR
ROK	+ 0.87	AME
CMI	+ 0.87	PCAR
CMI	+ 0.86	AME
PCAR	+ 0.85	ROK

High negative correlations

CMI	- 0.75	CARR
CMI	- 0.74	XYL
PCAR	- 0.73	XYL
CARR	- 0.7	ROK
XYL	- 0.65	ROK
PCAR	- 0.6	CARR

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	0.99	0.10	0.10	0.16	0.77	(1.27)	2.31	(1.65)	9.36
ROK	1.12	0.12	0.10	0.13	1.21	(1.22)	2.40	(1.91)	8.52
FERG	1.23	(0.08)	0.00	(0.01)	0.00	0.00	2.31	(2.37)	11.08
GWW	0.87	0.05	0.05	0.10	0.85	(1.03)	2.59	(1.52)	5.25
FAST	1.05	(0.32)	0.00	(0.51)	0.00	0.00	1.46	(2.00)	8.48
SYM	4.99	0.24	0.06	0.11	6.50	(5.43)	10.59	(10.11)	60.87
CARR	1.36	(0.23)	0.00	(0.11)	0.00	0.00	3.72	(2.74)	8.88
XYL	0.76	(0.13)	0.00	(0.10)	0.00	0.00	1.17	(1.70)	5.54
PCAR	1.19	0.11	0.11	0.15	0.96	(1.58)	3.02	(1.89)	6.91
CMI	1.44	0.26	0.16	0.32	1.36	(1.61)	2.77	(2.55)	9.83

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