FTV vs IEX: Correlation
Measured on weekly returns over the past three years, Fortive (FTV) and IDEX Corporation (IEX) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTV and IEX?
Over the past 3 years, FTV and IEX moved with a correlation of 0.64, which is strong. The past 12 months show a weaker link (0.45) than the 3-year average (0.64). Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 357.0 %².
Among the 36 assets we track against FTV, IEX ranks #6 by 3-year correlation. The last year tells two different stories: IEX led by 19.1 percentage points, +23.9% for FTV against +43.0% for IEX. On a rolling one-year basis the correlation drifted between 0.46 and 0.77, a moderate band.
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 IEX: side by side
| FTV (Fortive) | IEX (IDEX Corporation) | |
|---|---|---|
| 1-year return | +23.9% | +43.0% |
| 5-year return | +9.6% | +10.5% |
| Volatility (ann.) | 23.8% | 23.3% |
| Beta vs S&P 500 | 0.92 | 0.89 |
| Max drawdown (3Y) | -28.0% | -34.6% |
| Market cap | $18.1B | $17.2B |
| P/E (trailing) | 31.9 | 33.8 |
| Dividend yield | 0.20% | 1.23% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | FTV | IEX |
|---|---|---|
| 2022 | -15.4% | -2.2% |
| 2023 | +15.1% | -3.8% |
| 2024 | +2.3% | -2.4% |
| 2025 | -1.9% | -13.7% |
| 2026 | +8.8% | +32.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTV and IEX good diversifiers for each other?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FTV and IEX?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.45 over the last year and 0.69 over 5 years.
Is IEX a good diversifier for FTV?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.64 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ftv-vs-iex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ftv-vs-iex/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FTV correlations · IEX correlations
