FTNT vs PSHG: Correlation
Fortinet (FTNT) and Performance Shipping Inc. (PSHG) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTNT and PSHG?
Across a 3-year window, the weekly returns of FTNT and PSHG correlate at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.07) than the 3-year average (-0.20). Stretching to 5 years gives -0.04, with an annualized covariance of -375.5 %².
Within FTNT's tracked universe of 32 assets, PSHG comes in at #20 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FTNT outperformed by 132.8 percentage points (+121.1% for FTNT against -11.7% for PSHG).
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 PSHG: side by side
| FTNT (Fortinet) | PSHG (Performance Shipping Inc.) | |
|---|---|---|
| 1-year return | +121.1% | -11.7% |
| 5-year return | +170.5% | -97.7% |
| Volatility (ann.) | 42.1% | 44.0% |
| Beta vs S&P 500 | 1.02 | 0.16 |
| Max drawdown (3Y) | -35.1% | -45.3% |
| Market cap | $126.8B | – |
| P/E (trailing) | 60.8 | 1.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | FTNT | PSHG |
|---|---|---|
| 2022 | -32.0% | -93.6% |
| 2023 | +19.7% | -35.9% |
| 2024 | +61.4% | -18.1% |
| 2025 | -16.0% | +14.5% |
| 2026 | +117.6% | -20.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTNT and PSHG good diversifiers for each other?
Yes. With a correlation of -0.20, FTNT and PSHG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FTNT and PSHG?
As of 2026-08-27, the correlation of weekly returns between FTNT and PSHG is -0.20 over 3 years, -0.07 over 1 year and -0.04 over 5 years.
Is PSHG a good diversifier for FTNT?
Yes. With a correlation of -0.20, FTNT and PSHG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ftnt-vs-pshg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ftnt-vs-pshg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FTNT correlations · PSHG correlations
