AORT vs FTNT: Correlation
Artivion, Inc. (AORT) and Fortinet (FTNT) show a negative relationship: their 3-year correlation of weekly returns is -0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AORT and FTNT?
Across a 3-year window, the weekly returns of AORT and FTNT correlate at -0.36, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.62) runs below the 3-year figure (-0.36). Stretching to 5 years gives -0.04, with an annualized covariance of -705.2 %².
FTNT is close to the least connected end of AORT's tracked universe, ranking #15 of 15. Their recent paths diverged sharply: over the last 12 months FTNT outperformed by 160.1 percentage points (-39.0% for AORT against +121.1% for FTNT).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AORT vs FTNT: side by side
| AORT (Artivion, Inc.) | FTNT (Fortinet) | |
|---|---|---|
| 1-year return | -39.0% | +121.1% |
| 5-year return | +3.6% | +170.5% |
| Volatility (ann.) | 47.1% | 42.1% |
| Beta vs S&P 500 | 0.88 | 1.02 |
| Max drawdown (3Y) | -57.8% | -35.1% |
| Market cap | $1.3B | $126.8B |
| P/E (trailing) | – | 60.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | AORT | FTNT |
|---|---|---|
| 2022 | -40.4% | -32.0% |
| 2023 | +47.5% | +19.7% |
| 2024 | +59.9% | +61.4% |
| 2025 | +59.5% | -16.0% |
| 2026 | -41.5% | +117.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AORT and FTNT good diversifiers for each other?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
FAQ
What is the correlation between AORT and FTNT?
The AORT/FTNT correlation stands at -0.36 on a 3-year window (1 year: -0.62, 5 years: -0.04), computed from weekly returns as of 2026-08-27.
Is FTNT a good diversifier for AORT?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
What does a correlation of -0.36 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aort-vs-ftnt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aort-vs-ftnt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AORT correlations · FTNT correlations
