FTV vs PAPL: Correlation
Fortive (FTV) and Pineapple Financial Inc. (PAPL) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTV and PAPL?
Over the past 3 years, FTV and PAPL moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.18 over 1 year against -0.17 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -714.8 %².
Among the 36 assets we track against FTV, PAPL ranks #30 by 3-year correlation. The last year tells two different stories: FTV led by 94.6 percentage points, +23.9% for FTV against -70.7% for PAPL. One caveat on sizing: PAPL is 7.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 PAPL: side by side
| FTV (Fortive) | PAPL (Pineapple Financial Inc.) | |
|---|---|---|
| 1-year return | +23.9% | -70.7% |
| 5-year return | +9.6% | n/a |
| Volatility (ann.) | 23.8% | 181.2% |
| Beta vs S&P 500 | 0.92 | -0.73 |
| Max drawdown (3Y) | -28.0% | -99.4% |
| Market cap | $18.1B | – |
| P/E (trailing) | 31.9 | – |
| Dividend yield | 0.20% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | FTV | PAPL |
|---|---|---|
| 2022 | -15.4% | – |
| 2023 | +15.1% | – |
| 2024 | +2.3% | -74.7% |
| 2025 | -1.9% | -84.4% |
| 2026 | +8.8% | -25.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTV and PAPL good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between FTV and PAPL?
The FTV/PAPL correlation stands at -0.17 on a 3-year window (1 year: -0.18, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is PAPL a good diversifier for FTV?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
A reading of -0.17 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-papl.json
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[](https://www.pairbook.io/pair/ftv-vs-papl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FTV correlations · PAPL correlations
