Fortinet Correlations

FTNT Stock  USD 99.33  0.50  0.50%   
The current 90-days correlation between Fortinet and Crowdstrike Holdings is 0.45 (i.e., Very weak 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

Average diversification

The correlation between Fortinet and DJI is 0.12 (i.e., Average 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.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fortinet. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
For more information on how to buy Fortinet Stock please use our How to Invest in Fortinet guide.

Moving together with Fortinet Stock

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Moving against Fortinet Stock

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Related Correlations Analysis

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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   
NETOKTA
NETCRWD
PLTRCRWD
ADBEMDB
PLTRNET
ZSMDB
  
High negative correlations   
ADBENET
ADBEOKTA
PLTRADBE
ADBECRWD
MDBNET
PLTRMDB

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
CRWD  2.10  0.41  0.16  0.73  2.05 
 4.11 
 12.72 
OKTA  1.54  0.39  0.19  1.47  1.43 
 4.24 
 10.08 
NET  2.13  0.69  0.27  4.78  1.82 
 5.47 
 15.25 
MDB  2.42  0.11  0.02  0.27  4.07 
 5.34 
 28.87 
PANW  1.46  0.04 (0.01) 0.20  2.24 
 3.02 
 11.36 
SPLK  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
ADBE  1.34 (0.15) 0.00 (0.36) 0.00 
 2.74 
 18.04 
PLTR  3.24  1.04  0.29  40.56  2.67 
 8.54 
 31.28 
ZS  1.79  0.17  0.04  0.98  2.31 
 3.27 
 12.12 
PATH  2.42  0.26  0.08  0.53  2.78 
 5.47 
 13.36 

Fortinet Corporate Management

John WhittleVP of Corporate Devel. and Strategic Alliances and General CounselProfile
Carl WindsorChief OfficerProfile
Chris PernaVice AcquisitionProfile
Matthew PleyExecutive SalesProfile