Roper Technologies Correlations

ROP Stock

USD 369.27 39.40 9.64%

The current 90-days correlation between Roper Technologies and Ametek Inc is 0.22 (i.e., Modest 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 -0.55 (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 against Roper Stock

0.65	HON	Honeywell International Earnings Call Tomorrow	Pair Corr
0.65	DIV	Diversified Royalty Corp	Pair Corr
0.61	600805	Jiangsu Yueda Investment	Pair Corr
0.45	CSL	Carlisle Companies	Pair Corr
0.72	FRSB	First Resource Bank	Pair Corr
0.63	GKOS	Glaukos Corp	Pair Corr
0.62	CQP	Cheniere Energy Partners	Pair Corr
0.54	TUIFF	TUI AG	Pair Corr
0.53	FMBH	First Mid Illinois	Pair Corr
0.52	TFC	Truist Financial Corp	Pair Corr
0.52	NRIX	Nurix Therapeutics	Pair Corr
0.5	APGE	Apogee Therapeutics	Pair Corr
0.41	INRE	Inland Real Estateome	Pair Corr
0.69	B	Barrick Mining Symbol Change	Pair Corr
0.57	OPY	Oppenheimer Holdings Earnings Call This Week	Pair Corr

Related Correlations Analysis

	AME	ROK	FERG	GWW	FAST	SYM	CARR	XYL	PCAR	CMI
AME		0.82	-0.14	0.83	0.36	-0.01	-0.02	-0.39	0.88	0.88	AME
ROK	0.82		-0.14	0.75	0.24	-0.03	-0.2	-0.54	0.89	0.96	ROK
FERG	-0.14	-0.14		-0.31	0.2	0.32	0.61	0.59	-0.24	-0.16	FERG
GWW	0.83	0.75	-0.31		0.63	-0.11	0.07	-0.35	0.92	0.79	GWW
FAST	0.36	0.24	0.2	0.63		-0.06	0.47	0.21	0.49	0.26	FAST
SYM	-0.01	-0.03	0.32	-0.11	-0.06		0.54	0.38	-0.08	-0.05	SYM
CARR	-0.02	-0.2	0.61	0.07	0.47	0.54		0.8	-0.09	-0.19	CARR
XYL	-0.39	-0.54	0.59	-0.35	0.21	0.38	0.8		-0.52	-0.55	XYL
PCAR	0.88	0.89	-0.24	0.92	0.49	-0.08	-0.09	-0.52		0.93	PCAR
CMI	0.88	0.96	-0.16	0.79	0.26	-0.05	-0.19	-0.55	0.93		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
CMI	+ 0.93	PCAR
PCAR	+ 0.92	GWW
PCAR	+ 0.89	ROK
PCAR	+ 0.88	AME
CMI	+ 0.88	AME

High negative correlations

CMI	- 0.55	XYL
XYL	- 0.54	ROK
PCAR	- 0.52	XYL
XYL	- 0.39	AME
XYL	- 0.35	GWW
GWW	- 0.31	FERG

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	1.04	0.23	0.19	1.35	0.65	(1.38)	2.39	(1.39)	9.36
ROK	1.20	0.18	0.14	0.19	1.20	(1.28)	2.72	(1.91)	8.52
FERG	1.30	0.05	0.00	0.19	2.02	(1.24)	2.77	(2.56)	11.07
GWW	0.99	0.06	0.06	0.13	1.03	(1.17)	2.85	(1.69)	7.07
FAST	1.09	0.03	0.03	0.10	1.14	(1.18)	2.00	(1.99)	6.66
SYM	4.47	(0.41)	0.00	(0.06)	0.00	0.00	9.03	(10.11)	60.87
CARR	1.28	(0.17)	0.00	(0.08)	0.00	0.00	4.09	(2.24)	6.58
XYL	0.94	(0.14)	0.00	(0.05)	0.00	0.00	1.68	(2.05)	8.37
PCAR	1.27	0.23	0.23	0.25	0.78	(1.65)	3.68	(1.63)	7.16
CMI	1.45	0.46	0.32	0.49	1.06	(1.75)	2.87	(2.27)	9.83

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