FTV vs OTIS: Correlation
Measured on weekly returns over the past three years, Fortive (FTV) and Otis Worldwide (OTIS) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTV and OTIS?
On 3 years of weekly data the FTV/OTIS correlation comes out at 0.51, moderate. The relationship has been stable: the 1-year correlation (0.57) sits close to the 3-year figure. The 5-year figure is 0.62, and annualized covariance runs at 232.6 %².
By 3-year correlation, OTIS places #22 of the 36 assets tracked against FTV. Their recent paths diverged sharply: over the last 12 months FTV outperformed by 40.7 percentage points (+23.9% for FTV against -16.8% for OTIS). The rolling one-year correlation moved between 0.32 and 0.73 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 OTIS: side by side
| FTV (Fortive) | OTIS (Otis Worldwide) | |
|---|---|---|
| 1-year return | +23.9% | -16.8% |
| 5-year return | +9.6% | -15.9% |
| Volatility (ann.) | 23.8% | 19.1% |
| Beta vs S&P 500 | 0.92 | 0.59 |
| Max drawdown (3Y) | -28.0% | -32.4% |
| Market cap | $18.1B | $27.2B |
| P/E (trailing) | 31.9 | 18.4 |
| Dividend yield | 0.20% | 2.35% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | FTV | OTIS |
|---|---|---|
| 2022 | -15.4% | -8.8% |
| 2023 | +15.1% | +16.0% |
| 2024 | +2.3% | +5.2% |
| 2025 | -1.9% | -4.0% |
| 2026 | +8.8% | -16.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTV and OTIS good diversifiers for each other?
To a limited degree. At 0.51 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 OTIS?
The FTV/OTIS correlation stands at 0.51 on a 3-year window (1 year: 0.57, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is OTIS a good diversifier for FTV?
To a limited degree. At 0.51 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 0.51 mean?
A reading of 0.51 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FTV correlations · OTIS correlations
