Fortinet Correlations

Stocks . Germany . 
Stock . Fortinet
FO8 Stock  EUR 68.34  0.48  0.70%   
The current 90-days correlation between Fortinet and PLAYTIKA HOLDING DL 01 is 0.01 (i.e., Significant diversification). The correlation of Fortinet 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.

Fortinet Correlation With Market

Significant diversification

The correlation between Fortinet and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fortinet and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Fortinet could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fortinet when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Fortinet - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Fortinet to buy it.

Moving together with Fortinet Stock

  0.745AP Palo Alto NetworksPairCorr
  0.78CDS Cadence Design SystemsPairCorr
  0.7AUD AutodeskPairCorr
  0.72096 HubSpotPairCorr

Moving against Fortinet Stock

  0.64S0V SeaboardPairCorr
  0.562Y7 Fastly IncPairCorr
  0.47HHX HAMMONIA SchiffsholdingPairCorr
  0.45AMV0 AUMOVIO NPairCorr
  0.66SDA SEALED AIRPairCorr
  0.625EZ SHIP HEALTHCARE HLDGINCPairCorr
  0.54WSU WashTec AGPairCorr
  0.5ZEGA AstraZeneca PLCPairCorr
  0.49NSE Nomura HoldingsPairCorr
  0.38WSV2 Vienna InsurancePairCorr
  0.37X9C Metalla Royalty StreamingPairCorr
  0.374H7 TROPHY GAMES DEVPairCorr
  0.32APC Apple IncPairCorr
  0.31APC Apple IncPairCorr
  0.61RSK Arch Capital GroupPairCorr
  0.59ZWS Telia Lietuva ABPairCorr
  0.59IDP Biogen IncPairCorr
  0.56MM6A Option Care HealthPairCorr

Related Correlations Analysis


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

9JD
+ 0.85
4BY
9JD
+ 0.83
ARW
AS7
+ 0.81
4BY
ARW
+ 0.8
4BY
8II
+ 0.68
LGLG
AS7
+ 0.65
ARW
  

High negative correlations

AS7
- 0.8
LGLG
4BY
- 0.76
LGLG
9JD
- 0.67
LGLG
ARW
- 0.6
LGLG
8II
- 0.59
4BY
9JD
- 0.57
8II

Risk-Adjusted Indicators

There is a big difference between Fortinet Stock performing well and Fortinet 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 Fortinet'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Fortinet without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Fortinet Corporate Management

Elected by the shareholders, the Fortinet's board of directors comprises two types of representatives: Fortinet inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Fortinet. The board's role is to monitor Fortinet's management team and ensure that shareholders' interests are well served. Fortinet's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Fortinet's outside directors are responsible for providing unbiased perspectives on the board's policies.
Patrice PercheEx OfficerProfile
Ken XieChairman FounderProfile
Peter SalkowskiVP RelationsProfile
Chris PernaVP AcquisitionProfile
Keith JensenCFO OfficerProfile
John WhittleChief DevelProfile
Michael XiePresident, FounderProfile
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