FTV vs FWDI: Correlation
How closely do Fortive (FTV) and Forward Industries, Inc. (FWDI) trade together? Their weekly returns over three years give a correlation of -0.15, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTV and FWDI?
On 3 years of weekly data the FTV/FWDI correlation comes out at -0.15, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.05) sits close to the 3-year figure. The 5-year figure is -0.09, and annualized covariance runs at -443.2 %².
By 3-year correlation, FWDI places #27 of the 36 assets tracked against FTV. Their recent paths diverged sharply: over the last 12 months FTV outperformed by 74.0 percentage points (+23.9% for FTV against -50.1% for FWDI). Risk is not evenly split, since FWDI carries 5.2 times the volatility of the other side.
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.
FTV vs FWDI: side by side
| FTV (Fortive) | FWDI (Forward Industries, Inc.) | |
|---|---|---|
| 1-year return | +23.9% | -50.1% |
| 5-year return | +9.6% | -73.8% |
| Volatility (ann.) | 23.8% | 123.1% |
| Beta vs S&P 500 | 0.92 | -0.00 |
| Max drawdown (3Y) | -28.0% | -90.9% |
| Market cap | $18.1B | $0.5B |
| P/E (trailing) | 31.9 | – |
| Dividend yield | 0.20% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | FTV | FWDI |
|---|---|---|
| 2022 | -15.4% | -31.4% |
| 2023 | +15.1% | -31.8% |
| 2024 | +2.3% | -32.2% |
| 2025 | -1.9% | +33.5% |
| 2026 | +8.8% | +0.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTV and FWDI good diversifiers for each other?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FTV and FWDI?
The FTV/FWDI correlation stands at -0.15 on a 3-year window (1 year: -0.05, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is FWDI a good diversifier for FTV?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.15 mean?
A reading of -0.15 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/ftv-vs-fwdi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ftv-vs-fwdi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FTV correlations · FWDI correlations
