FTV vs IR: Correlation
How closely do Fortive (FTV) and Ingersoll Rand (IR) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTV and IR?
On 3 years of weekly data the FTV/IR correlation comes out at 0.64, strong. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. The 5-year figure is 0.69, and annualized covariance runs at 456.2 %².
Among the 36 assets we track against FTV, IR ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FTV ahead by 25.9 points (+23.9% versus -2.0%). Across three years, the rolling one-year figure varied moderately, from 0.46 to 0.79.
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 IR: side by side
| FTV (Fortive) | IR (Ingersoll Rand) | |
|---|---|---|
| 1-year return | +23.9% | -2.0% |
| 5-year return | +9.6% | +49.2% |
| Volatility (ann.) | 23.8% | 29.8% |
| Beta vs S&P 500 | 0.92 | 1.17 |
| Max drawdown (3Y) | -28.0% | -36.6% |
| Market cap | $18.1B | $30.6B |
| P/E (trailing) | 31.9 | 32.6 |
| Dividend yield | 0.20% | 0.15% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | FTV | IR |
|---|---|---|
| 2022 | -15.4% | -15.4% |
| 2023 | +15.1% | +48.2% |
| 2024 | +2.3% | +17.1% |
| 2025 | -1.9% | -12.3% |
| 2026 | +8.8% | -0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTV and IR good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FTV and IR?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.62 over the last year and 0.69 over 5 years.
Is IR a good diversifier for FTV?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
A reading of 0.64 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-ir.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ftv-vs-ir/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FTV correlations · IR correlations
