FTV vs ODFL: Correlation
Fortive (FTV) and Old Dominion (ODFL) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTV and ODFL?
Across a 3-year window, the weekly returns of FTV and ODFL correlate at 0.56, moderate. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Stretching to 5 years gives 0.59, with an annualized covariance of 461.2 %².
By 3-year correlation, ODFL places #18 of the 36 assets tracked against FTV. Over the last 12 months ODFL came out ahead by 7.0 percentage points (+23.9% against +30.9%). The rolling one-year correlation moved between 0.41 and 0.76 over the past three years, a moderate range.
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 ODFL: side by side
| FTV (Fortive) | ODFL (Old Dominion) | |
|---|---|---|
| 1-year return | +23.9% | +30.9% |
| 5-year return | +9.6% | +39.6% |
| Volatility (ann.) | 23.8% | 34.7% |
| Beta vs S&P 500 | 0.92 | 0.98 |
| Max drawdown (3Y) | -28.0% | -45.2% |
| Market cap | $18.1B | $41.6B |
| P/E (trailing) | 31.9 | 38.3 |
| Dividend yield | 0.20% | 0.57% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | FTV | ODFL |
|---|---|---|
| 2022 | -15.4% | -20.5% |
| 2023 | +15.1% | +43.5% |
| 2024 | +2.3% | -12.5% |
| 2025 | -1.9% | -10.5% |
| 2026 | +8.8% | +27.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTV and ODFL good diversifiers for each other?
To a limited degree. At 0.56 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 ODFL?
As of 2026-08-27, the correlation of weekly returns between FTV and ODFL is 0.56 over 3 years, 0.59 over 1 year and 0.59 over 5 years.
Is ODFL a good diversifier for FTV?
To a limited degree. At 0.56 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 0.56 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-odfl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ftv-vs-odfl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FTV correlations · ODFL correlations
