An encoder-type measurement system is configured to measure a position dependent signal of a movable object, the measurement system including at least one sensor mountable on the movable object a sensor target object mountable on a substantially stationary frame, and a mounting device configured to mount the sensor target object on the substantially stationary frame. The measurement system further includes a compensation device configured to compensate movements and/or deformations of the sensor target object with respect to the substantially stationary frame. The compensation device may include a passive or an active damping device and/or a feedback position control system. In an alternative embodiment, the compensation device includes a gripping device which fixes the position of the sensor target object during a high accuracy movement of the movable object.