BWA vs ROP: Correlation
How closely do BorgWarner Inc. (BWA) and Roper Technologies (ROP) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWA and ROP?
Over the past 3 years, BWA and ROP moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.51) runs below the 3-year figure (-0.20). Over 5 years the correlation is 0.10, and the annualized covariance of weekly returns is -123.9 %².
By 3-year correlation, ROP places #11 of the 16 assets tracked against BWA. The last year tells two different stories: BWA led by 70.2 percentage points, +50.9% for BWA against -19.3% for ROP.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BWA vs ROP: side by side
| BWA (BorgWarner Inc.) | ROP (Roper Technologies) | |
|---|---|---|
| 1-year return | +50.9% | -19.3% |
| 5-year return | +84.0% | -9.6% |
| Volatility (ann.) | 29.6% | 20.5% |
| Beta vs S&P 500 | 0.54 | 0.55 |
| Max drawdown (3Y) | -38.7% | -46.5% |
| Market cap | $13.2B | $41.8B |
| P/E (trailing) | 31.9 | 17.6 |
| Dividend yield | 1.05% | 0.86% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | BWA | ROP |
|---|---|---|
| 2022 | -9.2% | -11.6% |
| 2023 | +2.5% | +26.9% |
| 2024 | -10.2% | -4.1% |
| 2025 | +43.9% | -13.8% |
| 2026 | +44.6% | -4.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWA and ROP good diversifiers for each other?
Yes. With a correlation of -0.20, BWA and ROP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BWA and ROP?
The BWA/ROP correlation stands at -0.20 on a 3-year window (1 year: -0.51, 5 years: 0.10), computed from weekly returns as of 2026-08-27.
Is ROP a good diversifier for BWA?
Yes. With a correlation of -0.20, BWA and ROP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bwa-vs-rop.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bwa-vs-rop/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BWA correlations · ROP correlations
