FTNT vs TENB: Correlation
Fortinet (FTNT) and Tenable Holdings, Inc. (TENB) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTNT and TENB?
On 3 years of weekly data the FTNT/TENB correlation comes out at 0.45, moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. The 5-year figure is 0.50, and annualized covariance runs at 786.2 %².
Among the 32 assets we track against FTNT, TENB ranks #10 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FTNT ahead by 98.1 points (+121.1% versus +23.0%).
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 TENB: side by side
| FTNT (Fortinet) | TENB (Tenable Holdings, Inc.) | |
|---|---|---|
| 1-year return | +121.1% | +23.0% |
| 5-year return | +170.5% | -16.1% |
| Volatility (ann.) | 42.1% | 41.5% |
| Beta vs S&P 500 | 1.02 | 1.04 |
| Max drawdown (3Y) | -35.1% | -69.1% |
| Market cap | $126.8B | $4.1B |
| P/E (trailing) | 60.8 | 537.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | FTNT | TENB |
|---|---|---|
| 2022 | -32.0% | -30.7% |
| 2023 | +19.7% | +20.7% |
| 2024 | +61.4% | -14.5% |
| 2025 | -16.0% | -40.2% |
| 2026 | +117.6% | +59.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTNT and TENB good diversifiers for each other?
Reasonably. At 0.45, FTNT and TENB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FTNT and TENB?
As of 2026-08-27, the correlation of weekly returns between FTNT and TENB is 0.45 over 3 years, 0.48 over 1 year and 0.50 over 5 years.
Is TENB a good diversifier for FTNT?
Reasonably. At 0.45, FTNT and TENB 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-tenb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ftnt-vs-tenb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FTNT correlations · TENB correlations
