CSX vs FTV: Correlation
How closely do CSX Corporation (CSX) and Fortive (FTV) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSX and FTV?
Over the past 3 years, CSX and FTV moved with a correlation of 0.54, which is moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 252.9 %².
By 3-year correlation, FTV places #17 of the 30 assets tracked against CSX. Correlation aside, the last 12 months split them widely, with CSX ahead by 36.7 points (+60.6% versus +23.9%). The link looks structural: the rolling one-year correlation barely moved, holding between 0.44 and 0.66.
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.
CSX vs FTV: side by side
| CSX (CSX Corporation) | FTV (Fortive) | |
|---|---|---|
| 1-year return | +60.6% | +23.9% |
| 5-year return | +66.2% | +9.6% |
| Volatility (ann.) | 19.7% | 23.8% |
| Beta vs S&P 500 | 0.62 | 0.92 |
| Max drawdown (3Y) | -29.4% | -28.0% |
| Market cap | $95.5B | $18.1B |
| P/E (trailing) | 30.1 | 31.9 |
| Dividend yield | 1.04% | 0.20% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | CSX | FTV |
|---|---|---|
| 2022 | -16.6% | -15.4% |
| 2023 | +13.5% | +15.1% |
| 2024 | -5.6% | +2.3% |
| 2025 | +14.1% | -1.9% |
| 2026 | +43.1% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSX and FTV good diversifiers for each other?
Only partially. A correlation of 0.54 means CSX and FTV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CSX and FTV?
The CSX/FTV correlation stands at 0.54 on a 3-year window (1 year: 0.45, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is FTV a good diversifier for CSX?
Only partially. A correlation of 0.54 means CSX and FTV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
A reading of 0.54 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/csx-vs-ftv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/csx-vs-ftv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CSX correlations · FTV correlations
