FTNT vs OKTA: Correlation
Measured on weekly returns over the past three years, Fortinet (FTNT) and Okta, Inc. (OKTA) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTNT and OKTA?
Over the past 3 years, FTNT and OKTA moved with a correlation of 0.46, which is moderate. The past 12 months show a tighter link (0.58) than the 3-year average (0.46). Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 1046.8 %².
Among the 32 assets we track against FTNT, OKTA ranks #8 by 3-year correlation. The last year tells two different stories: FTNT led by 35.2 percentage points, +121.1% for FTNT against +85.9% for OKTA.
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.
FTNT vs OKTA: side by side
| FTNT (Fortinet) | OKTA (Okta, Inc.) | |
|---|---|---|
| 1-year return | +121.1% | +85.9% |
| 5-year return | +170.5% | -34.7% |
| Volatility (ann.) | 42.1% | 54.5% |
| Beta vs S&P 500 | 1.02 | 1.24 |
| Max drawdown (3Y) | -35.1% | -50.6% |
| Market cap | $126.8B | $30.2B |
| P/E (trailing) | 60.8 | 97.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | FTNT | OKTA |
|---|---|---|
| 2022 | -32.0% | -69.5% |
| 2023 | +19.7% | +32.5% |
| 2024 | +61.4% | -13.0% |
| 2025 | -16.0% | +9.7% |
| 2026 | +117.6% | +100.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTNT and OKTA good diversifiers for each other?
Reasonably. At 0.46, FTNT and OKTA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FTNT and OKTA?
The FTNT/OKTA correlation stands at 0.46 on a 3-year window (1 year: 0.58, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is OKTA a good diversifier for FTNT?
Reasonably. At 0.46, FTNT and OKTA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FTNT correlations · OKTA correlations
