FTNT vs SEB: Correlation
Fortinet (FTNT) and Seaboard Corporation (SEB) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTNT and SEB?
Over the past 3 years, FTNT and SEB moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.41 versus -0.26 over 3 years. Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -354.7 %².
Within FTNT's tracked universe of 32 assets, SEB comes in at #27 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FTNT outperformed by 116.3 percentage points (+121.1% for FTNT against +4.8% for SEB).
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 SEB: side by side
| FTNT (Fortinet) | SEB (Seaboard Corporation) | |
|---|---|---|
| 1-year return | +121.1% | +4.8% |
| 5-year return | +170.5% | -4.5% |
| Volatility (ann.) | 42.1% | 32.8% |
| Beta vs S&P 500 | 1.02 | -0.07 |
| Max drawdown (3Y) | -35.1% | -37.7% |
| Market cap | $126.8B | $3.8B |
| P/E (trailing) | 60.8 | 6.0 |
| Dividend yield | 0.00% | 0.22% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | FTNT | SEB |
|---|---|---|
| 2022 | -32.0% | -3.8% |
| 2023 | +19.7% | -5.2% |
| 2024 | +61.4% | -31.7% |
| 2025 | -16.0% | +83.5% |
| 2026 | +117.6% | -11.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTNT and SEB good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FTNT and SEB?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.41 over the last year and -0.13 over 5 years.
Is SEB a good diversifier for FTNT?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ftnt-vs-seb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ftnt-vs-seb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FTNT correlations · SEB correlations
