Roper Technologies, Correlations

ROP Stock

USD 516.16 3.69 0.71%

The current 90-days correlation between Roper Technologies, and ANSYS Inc is 0.63 (i.e., Poor diversification). The correlation of Roper Technologies, is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Roper Technologies, Correlation With Market

Average diversification

The correlation between Roper Technologies, and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Roper Technologies, and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Roper Technologies,. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

To learn how to invest in Roper Stock, please use our How to Invest in Roper Technologies, guide.

Moving together with Roper Stock

0.61	PD	Pagerduty	Pair Corr
0.73	DOMO	Domo Inc	Pair Corr
0.61	XELAP	Exela Technologies	Pair Corr

Moving against Roper Stock

0.39	QH	Quhuo	Pair Corr
0.37	KC	Kingsoft Cloud Holdings Tech Boost	Pair Corr
0.56	WALDW	Waldencast Acquisition	Pair Corr
0.53	WALD	Waldencast Acquisition	Pair Corr
0.51	EZFL	EzFill Holdings	Pair Corr
0.33	WBTN	WEBTOON Entertainment	Pair Corr

Related Correlations Analysis

	MANH	ANSS	GWRE	SAP	TYL	CDNS	PTC	AZPN	BSY	BLKB
MANH		0.32	0.0	0.24	0.33	0.15	0.4	0.21	0.35	0.25	MANH
ANSS	0.32		0.34	0.59	0.71	0.87	0.82	0.84	-0.11	-0.01	ANSS
GWRE	0.0	0.34		-0.33	0.46	0.08	0.31	-0.01	0.33	0.64	GWRE
SAP	0.24	0.59	-0.33		0.46	0.64	0.6	0.73	-0.3	-0.5	SAP
TYL	0.33	0.71	0.46	0.46		0.61	0.87	0.57	0.06	0.13	TYL
CDNS	0.15	0.87	0.08	0.64	0.61		0.75	0.88	-0.31	-0.36	CDNS
PTC	0.4	0.82	0.31	0.6	0.87	0.75		0.77	-0.09	0.05	PTC
AZPN	0.21	0.84	-0.01	0.73	0.57	0.88	0.77		-0.43	-0.29	AZPN
BSY	0.35	-0.11	0.33	-0.3	0.06	-0.31	-0.09	-0.43		0.46	BSY
BLKB	0.25	-0.01	0.64	-0.5	0.13	-0.36	0.05	-0.29	0.46		BLKB
	MANH	ANSS	GWRE	SAP	TYL	CDNS	PTC	AZPN	BSY	BLKB

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

AZPN	+ 0.88	CDNS
CDNS	+ 0.87	ANSS
PTC	+ 0.87	TYL
AZPN	+ 0.84	ANSS
PTC	+ 0.82	ANSS
AZPN	+ 0.77	PTC

High negative correlations

BLKB	- 0.5	SAP
BSY	- 0.43	AZPN
BLKB	- 0.36	CDNS
SAP	- 0.33	GWRE
BSY	- 0.31	CDNS
BSY	- 0.3	SAP

Risk-Adjusted Indicators

There is a big difference between Roper Stock performing well and Roper Technologies, Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Roper Technologies,'s multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MANH	1.37	(0.05)	0.00	(0.09)	0.00	0.00	3.13	(3.75)	10.03
ANSS	1.13	0.06	0.03	2.22	1.57	(1.11)	2.49	(2.48)	11.30
GWRE	1.10	(0.07)	0.00	(0.31)	0.00	0.00	1.78	(1.73)	17.09
SAP	1.09	0.12	0.10	0.82	1.07	(1.29)	2.40	(1.91)	6.58
TYL	1.01	0.00	0.00	(0.02)	1.12	(1.24)	2.06	(1.84)	7.85
CDNS	1.72	0.16	0.07	3.46	2.16	(1.78)	2.92	(4.40)	18.93
PTC	1.01	0.01	0.01	0.05	1.30	(1.06)	2.25	(1.58)	8.34
AZPN	0.72	0.07	0.07	1.00	0.87	(0.78)	1.50	(1.80)	4.54
BSY	1.22	(0.13)	0.00	(0.90)	0.00	0.00	2.29	(2.72)	7.33
BLKB	1.52	(0.17)	0.00	(0.28)	0.00	0.00	2.83	(2.68)	16.70

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