FTV vs PH: Correlation
Measured on weekly returns over the past three years, Fortive (FTV) and Parker Hannifin (PH) 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 PH?
On 3 years of weekly data the FTV/PH correlation comes out at 0.64, strong. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. The 5-year figure is 0.70, and annualized covariance runs at 406.8 %².
Among the 36 assets we track against FTV, PH ranks #8 by 3-year correlation. The trailing year gives PH the advantage: +23.9% versus +32.8%, a 8.9-point spread. The link looks structural: the rolling one-year correlation barely moved, holding between 0.54 and 0.78.
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 PH: side by side
| FTV (Fortive) | PH (Parker Hannifin) | |
|---|---|---|
| 1-year return | +23.9% | +32.8% |
| 5-year return | +9.6% | +256.4% |
| Volatility (ann.) | 23.8% | 26.6% |
| Beta vs S&P 500 | 0.92 | 1.16 |
| Max drawdown (3Y) | -28.0% | -26.8% |
| Market cap | $18.1B | $127.5B |
| P/E (trailing) | 31.9 | 36.5 |
| Dividend yield | 0.20% | 0.71% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | FTV | PH |
|---|---|---|
| 2022 | -15.4% | -6.9% |
| 2023 | +15.1% | +60.8% |
| 2024 | +2.3% | +39.6% |
| 2025 | -1.9% | +39.5% |
| 2026 | +8.8% | +15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTV and PH 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 PH?
The FTV/PH correlation stands at 0.64 on a 3-year window (1 year: 0.56, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is PH 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-ph.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ftv-vs-ph/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FTV correlations · PH correlations
