FTNT vs VXX: Correlation
Fortinet (FTNT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTNT and VXX?
Across a 3-year window, the weekly returns of FTNT and VXX correlate at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.06) than the 3-year average (-0.23). Stretching to 5 years gives -0.31, with an annualized covariance of -591.7 %².
By 3-year correlation, VXX places #24 of the 32 assets tracked against FTNT. The last year tells two different stories: FTNT led by 170.8 percentage points, +121.1% for FTNT against -49.7% for VXX.
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 VXX: side by side
| FTNT (Fortinet) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +121.1% | -49.7% |
| 5-year return | +170.5% | -95.6% |
| Volatility (ann.) | 42.1% | 60.9% |
| Beta vs S&P 500 | 1.02 | -3.31 |
| Max drawdown (3Y) | -35.1% | -83.3% |
| Market cap | $126.8B | – |
| P/E (trailing) | 60.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | FTNT | VXX |
|---|---|---|
| 2022 | -32.0% | -23.8% |
| 2023 | +19.7% | -72.5% |
| 2024 | +61.4% | -26.2% |
| 2025 | -16.0% | -42.2% |
| 2026 | +117.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTNT and VXX good diversifiers for each other?
Yes. With a correlation of -0.23, FTNT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FTNT and VXX?
As of 2026-08-27, the correlation of weekly returns between FTNT and VXX is -0.23 over 3 years, -0.06 over 1 year and -0.31 over 5 years.
Is VXX a good diversifier for FTNT?
Yes. With a correlation of -0.23, FTNT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ftnt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FTNT correlations · VXX correlations
