FTV vs SPYV: Correlation
Fortive (FTV) and SPDR Portfolio S&P 500 Value ETF (SPYV) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTV and SPYV?
On 3 years of weekly data the FTV/SPYV correlation comes out at 0.63, strong. The past 12 months show a weaker link (0.49) than the 3-year average (0.63). The 5-year figure is 0.67, and annualized covariance runs at 181.2 %².
Among the 36 assets we track against FTV, SPYV ranks #12 by 3-year correlation. The trailing year gives FTV the advantage: +23.9% versus +18.5%, a 5.4-point spread. The rolling one-year correlation moved between 0.49 and 0.82 over the past three years, a moderate range. Risk is not evenly split, since FTV carries 2.0 times the volatility of the other side.
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 SPYV: side by side
| FTV (Fortive) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | +23.9% | +18.5% |
| 5-year return | +9.6% | +73.5% |
| Volatility (ann.) | 23.8% | 12.1% |
| Beta vs S&P 500 | 0.92 | 0.70 |
| Max drawdown (3Y) | -28.0% | -17.5% |
| Market cap | $18.1B | – |
| P/E (trailing) | 31.9 | – |
| Dividend yield | 0.20% | 1.69% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $36.2B |
| Sector / category | Industrials | ETF · US Style |
SPYV, State Street Investment Management's Large Value fund, carries $36.2B under management, 438 holdings, a 0.04% expense ratio, a 1.69% trailing dividend yield.
Year-by-year returns
| Year | FTV | SPYV |
|---|---|---|
| 2022 | -15.4% | -5.3% |
| 2023 | +15.1% | +22.2% |
| 2024 | +2.3% | +12.2% |
| 2025 | -1.9% | +13.2% |
| 2026 | +8.8% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.06% of SPYV is FTV itself, so the fund partly moves with the stock by construction.
Are FTV and SPYV good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FTV and SPYV?
The FTV/SPYV correlation stands at 0.63 on a 3-year window (1 year: 0.49, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is SPYV a good diversifier for FTV?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
A reading of 0.63 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-spyv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ftv-vs-spyv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FTV correlations · SPYV correlations
