FTRE vs IQV: Correlation
Measured on weekly returns over the past three years, Fortrea Holdings Inc. (FTRE) and IQVIA (IQV) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTRE and IQV?
Over the past 3 years, FTRE and IQV moved with a correlation of 0.60, which is strong. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 1785.4 %².
IQV is one of the assets that tracks FTRE most closely: it ranks #2 out of the 12 assets we track against FTRE. The last year tells two different stories: FTRE led by 69.9 percentage points, +108.9% for FTRE against +39.0% for IQV. One caveat on sizing: FTRE is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FTRE vs IQV: side by side
| FTRE (Fortrea Holdings Inc.) | IQV (IQVIA) | |
|---|---|---|
| 1-year return | +108.9% | +39.0% |
| 5-year return | n/a | +0.3% |
| Volatility (ann.) | 78.9% | 37.9% |
| Beta vs S&P 500 | 1.59 | 0.93 |
| Max drawdown (3Y) | -89.9% | -47.1% |
| Market cap | $1.8B | $43.2B |
| P/E (trailing) | – | 32.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | FTRE | IQV |
|---|---|---|
| 2022 | – | -27.4% |
| 2023 | – | +12.9% |
| 2024 | -46.6% | -15.1% |
| 2025 | -7.5% | +14.7% |
| 2026 | +9.3% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTRE and IQV good diversifiers for each other?
Only partially. A correlation of 0.60 means FTRE and IQV 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 FTRE and IQV?
As of 2026-08-27, the correlation of weekly returns between FTRE and IQV is 0.60 over 3 years, 0.51 over 1 year and n/a over 5 years.
Is IQV a good diversifier for FTRE?
Only partially. A correlation of 0.60 means FTRE and IQV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: FTRE correlations · IQV correlations
