FTV vs ZGN: Correlation
Measured on weekly returns over the past three years, Fortive (FTV) and Ermenegildo Zegna N.V. (ZGN) 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 ZGN?
Across a 3-year window, the weekly returns of FTV and ZGN correlate at 0.51, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.51 over 3. Stretching to 5 years gives 0.42, with an annualized covariance of 533.5 %².
By 3-year correlation, ZGN places #23 of the 36 assets tracked against FTV. Their recent paths diverged sharply: over the last 12 months ZGN outperformed by 42.2 percentage points (+23.9% for FTV against +66.1% for ZGN). Note the risk asymmetry: ZGN runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 ZGN: side by side
| FTV (Fortive) | ZGN (Ermenegildo Zegna N.V.) | |
|---|---|---|
| 1-year return | +23.9% | +66.1% |
| 5-year return | +9.6% | +34.1% |
| Volatility (ann.) | 23.8% | 43.6% |
| Beta vs S&P 500 | 0.92 | 1.27 |
| Max drawdown (3Y) | -28.0% | -59.0% |
| Market cap | $18.1B | $3.7B |
| P/E (trailing) | 31.9 | 31.0 |
| Dividend yield | 0.20% | 0.87% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | FTV | ZGN |
|---|---|---|
| 2022 | -15.4% | +0.8% |
| 2023 | +15.1% | +11.5% |
| 2024 | +2.3% | -27.8% |
| 2025 | -1.9% | +26.0% |
| 2026 | +8.8% | +34.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTV and ZGN good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FTV and ZGN?
The FTV/ZGN correlation stands at 0.51 on a 3-year window (1 year: 0.49, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is ZGN a good diversifier for FTV?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ftv-vs-zgn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ftv-vs-zgn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FTV correlations · ZGN correlations
