Fortinet Correlations
| FTNT Stock | USD 85.56 1.30 1.54% |
The current 90-days correlation between Fortinet and Godaddy is 0.21 (i.e., Modest 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Fortinet Correlation With Market
Significant diversification
The correlation between Fortinet and DJI is 0.06 (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.
Moving against Fortinet Stock
| 0.52 | GETB | GetBusy PLC | PairCorr |
| 0.37 | VRNS | Varonis Systems Tech Boost | PairCorr |
| 0.36 | SVCO | Silvaco Group Common | PairCorr |
| 0.31 | CRTA | Cirata plc | PairCorr |
| 0.31 | CVLT | CommVault Systems | PairCorr |
Related Correlations Analysis
| -0.33 | -0.25 | -0.31 | -0.38 | 0.53 | AAPL | ||
| -0.33 | -0.05 | 0.38 | 0.52 | -0.59 | GOOGL | ||
| -0.25 | -0.05 | 0.04 | 0.32 | -0.07 | NVDA | ||
| -0.31 | 0.38 | 0.04 | -0.24 | 0.23 | SPSC | ||
| -0.38 | 0.52 | 0.32 | -0.24 | -0.87 | DOCN | ||
| 0.53 | -0.59 | -0.07 | 0.23 | -0.87 | GDDY | ||
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
| High negative correlations
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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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AAPL | 0.90 | (0.12) | 0.00 | (0.12) | 0.00 | 2.16 | 9.06 | |||
| GOOGL | 1.25 | 0.06 | 0.02 | 0.20 | 1.39 | 3.00 | 9.53 | |||
| NVDA | 1.68 | (0.17) | 0.00 | (0.14) | 0.00 | 2.95 | 9.51 | |||
| SPSC | 1.61 | (0.47) | 0.00 | (0.37) | 0.00 | 2.21 | 11.76 | |||
| DOCN | 2.60 | 0.35 | 0.15 | 0.24 | 2.52 | 7.04 | 16.76 | |||
| GDDY | 1.32 | (0.63) | 0.00 | (0.76) | 0.00 | 1.77 | 8.41 |
Fortinet Corporate Management
| John Whittle | VP of Corporate Devel. and Strategic Alliances and General Counsel | Profile | |
| Keith Jensen | Chief Accounting Officer, VP of Fin. and Corporate Controller | Profile | |
| Carl Windsor | Chief Officer | Profile | |
| Anthony Luscri | Vice Relations | Profile | |
| Lu Ling | Vice Management | Profile | |
| Jonathan NguyenDuy | Vice Team | Profile |