Roper Technologies, Inc. Common Stock (ROP) — Stock Correlations & Overview
Over the past year, ROP has moved most closely with PAYX, ADP, EXLS. Explore the stocks most correlated and inversely correlated with ROP below, along with its price, financials, and company profile.
Stocks correlated with ROP
Correlation of daily returns. Higher positive values move with ROP; negative values move opposite it. Informational only, not investment advice.
Most correlated with ROP
| Symbol | Company | Correlation |
|---|---|---|
| PAYX | Paychex IncSERVICES-ENGINEERING, ACCOUNTING, RESEARCH, MANAGEMENT | 0.65 |
| ADP | Automatic Data ProcessingSERVICES-COMPUTER PROCESSING & DATA PREPARATION | 0.64 |
| EXLS | ExlService Holdings, Inc.SERVICES-BUSINESS SERVICES, NEC | 0.62 |
| MANH | Manhattan Associates IncSERVICES-PREPACKAGED SOFTWARE | 0.61 |
| MDPL | Monarch Dividend Plus Index ETF | 0.60 |
Most inversely correlated with ROP
| Symbol | Company | Correlation |
|---|---|---|
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.54 |
| DWSH | AdvisorShares Dorsey Wright Short ETF | -0.53 |
| GLW | Corning IncorporatedDRAWING & INSULATING OF NONFERROUS WIRE | -0.38 |
| VOLT | Tema Electrification ETFSERVICES-HELP SUPPLY SERVICES | -0.36 |
| EGGY | NestYield Dynamic Income ETF | -0.36 |
Frequently asked questions about ROP correlations
- Which stocks are most correlated with ROP?
- Based on one year of daily returns, the stocks most correlated with Roper Technologies, Inc. Common Stock (ROP) are PAYX (0.65), ADP (0.64) and EXLS (0.62). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with ROP?
- Over the past year, the stocks most inversely correlated with Roper Technologies, Inc. Common Stock (ROP) are HDGE (-0.54), DWSH (-0.53) and GLW (-0.38). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these ROP correlations calculated?
- We compute the correlation of daily returns between ROP and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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