EMBC vs FTNT: Correlation
Measured on weekly returns over the past three years, Embecta Corp. (EMBC) and Fortinet (FTNT) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMBC and FTNT?
Over the past 3 years, EMBC and FTNT moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.61) runs below the 3-year figure (-0.27). Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -811.9 %².
Among the 15 assets we track against EMBC, FTNT sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with FTNT ahead by 185.6 points (-64.5% versus +121.1%). Risk is not evenly split, since EMBC carries 1.7 times the volatility of the other side.
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.
EMBC vs FTNT: side by side
| EMBC (Embecta Corp.) | FTNT (Fortinet) | |
|---|---|---|
| 1-year return | -64.5% | +121.1% |
| 5-year return | -87.8% | +170.5% |
| Volatility (ann.) | 72.4% | 42.1% |
| Beta vs S&P 500 | 0.91 | 1.02 |
| Max drawdown (3Y) | -85.3% | -35.1% |
| Market cap | $0.3B | $126.8B |
| P/E (trailing) | 3.4 | 60.8 |
| Dividend yield | 9.29% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | EMBC | FTNT |
|---|---|---|
| 2022 | – | -32.0% |
| 2023 | -23.1% | +19.7% |
| 2024 | +13.6% | +61.4% |
| 2025 | -39.6% | -16.0% |
| 2026 | -57.4% | +117.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMBC and FTNT good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EMBC and FTNT?
The EMBC/FTNT correlation stands at -0.27 on a 3-year window (1 year: -0.61, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is FTNT a good diversifier for EMBC?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 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.
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Related comparisons
Hubs: EMBC correlations · FTNT correlations
