DT vs FTNT: Correlation
How closely do Dynatrace, Inc. (DT) and Fortinet (FTNT) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DT and FTNT?
Across a 3-year window, the weekly returns of DT and FTNT correlate at 0.53, moderate. The relationship has been stable: the 1-year correlation (0.55) sits close to the 3-year figure. Stretching to 5 years gives 0.53, with an annualized covariance of 770.2 %².
Within DT's tracked universe of 26 assets, FTNT comes in at #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FTNT ahead by 114.5 points (+6.6% versus +121.1%).
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.
DT vs FTNT: side by side
| DT (Dynatrace, Inc.) | FTNT (Fortinet) | |
|---|---|---|
| 1-year return | +6.6% | +121.1% |
| 5-year return | -21.5% | +170.5% |
| Volatility (ann.) | 34.3% | 42.1% |
| Beta vs S&P 500 | 1.02 | 1.02 |
| Max drawdown (3Y) | -48.2% | -35.1% |
| Market cap | $15.5B | $126.8B |
| P/E (trailing) | 102.8 | 60.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | DT | FTNT |
|---|---|---|
| 2022 | -36.5% | -32.0% |
| 2023 | +42.8% | +19.7% |
| 2024 | -0.6% | +61.4% |
| 2025 | -20.3% | -16.0% |
| 2026 | +23.3% | +117.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DT and FTNT good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DT and FTNT?
As of 2026-08-27, the correlation of weekly returns between DT and FTNT is 0.53 over 3 years, 0.55 over 1 year and 0.53 over 5 years.
Is FTNT a good diversifier for DT?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 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/dt-vs-ftnt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dt-vs-ftnt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DT correlations · FTNT correlations
