FTNT vs SMWB: Correlation
Measured on weekly returns over the past three years, Fortinet (FTNT) and Similarweb Ltd. (SMWB) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTNT and SMWB?
On 3 years of weekly data the FTNT/SMWB correlation comes out at 0.45, moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. The 5-year figure is 0.43, and annualized covariance runs at 1276.6 %².
By 3-year correlation, SMWB places #9 of the 32 assets tracked against FTNT. Their recent paths diverged sharply: over the last 12 months FTNT outperformed by 127.0 percentage points (+121.1% for FTNT against -5.9% for SMWB). Risk is not evenly split, since SMWB carries 1.6 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.
FTNT vs SMWB: side by side
| FTNT (Fortinet) | SMWB (Similarweb Ltd.) | |
|---|---|---|
| 1-year return | +121.1% | -5.9% |
| 5-year return | +170.5% | -52.1% |
| Volatility (ann.) | 42.1% | 68.1% |
| Beta vs S&P 500 | 1.02 | 0.91 |
| Max drawdown (3Y) | -35.1% | -86.7% |
| Market cap | $126.8B | $0.8B |
| P/E (trailing) | 60.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | FTNT | SMWB |
|---|---|---|
| 2022 | -32.0% | -64.1% |
| 2023 | +19.7% | -17.1% |
| 2024 | +61.4% | +165.9% |
| 2025 | -16.0% | -47.1% |
| 2026 | +117.6% | +22.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTNT and SMWB good diversifiers for each other?
Reasonably. At 0.45, FTNT and SMWB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FTNT and SMWB?
As of 2026-08-27, the correlation of weekly returns between FTNT and SMWB is 0.45 over 3 years, 0.43 over 1 year and 0.43 over 5 years.
Is SMWB a good diversifier for FTNT?
Reasonably. At 0.45, FTNT and SMWB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 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/ftnt-vs-smwb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ftnt-vs-smwb/)
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Related comparisons
Hubs: FTNT correlations · SMWB correlations
