FTV vs VTV: Correlation
How closely do Fortive (FTV) and Vanguard Value ETF (VTV) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTV and VTV?
On 3 years of weekly data the FTV/VTV correlation comes out at 0.64, strong. Lately the two have drifted apart, with the 1-year correlation at 0.52 versus 0.64 over 3 years. The 5-year figure is 0.66, and annualized covariance runs at 181.2 %².
Within FTV's tracked universe of 36 assets, VTV comes in at #9 by 3-year correlation. Neither side won the trailing year by much: +23.9% against +25.7%. Across three years, the rolling one-year figure varied moderately, from 0.47 to 0.79. 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 VTV: side by side
| FTV (Fortive) | VTV (Vanguard Value ETF) | |
|---|---|---|
| 1-year return | +23.9% | +25.7% |
| 5-year return | +9.6% | +79.1% |
| Volatility (ann.) | 23.8% | 11.9% |
| Beta vs S&P 500 | 0.92 | 0.65 |
| Max drawdown (3Y) | -28.0% | -14.5% |
| Market cap | $18.1B | – |
| P/E (trailing) | 31.9 | – |
| Dividend yield | 0.20% | 1.86% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $256.4B |
| Sector / category | Industrials | ETF · US Style |
On the fund side, VTV sits in the Large Value category at Vanguard, with $256.4B under management, 308 holdings, a 0.03% expense ratio, a 1.86% trailing dividend yield.
Year-by-year returns
| Year | FTV | VTV |
|---|---|---|
| 2022 | -15.4% | -2.1% |
| 2023 | +15.1% | +9.3% |
| 2024 | +2.3% | +16.0% |
| 2025 | -1.9% | +15.3% |
| 2026 | +8.8% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTV and VTV good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FTV and VTV?
The FTV/VTV correlation stands at 0.64 on a 3-year window (1 year: 0.52, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is VTV a good diversifier for FTV?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
A reading of 0.64 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 · VTV correlations
