AMZN vs. FTNT

Last updated Jun 13, 2026

AMZN (Amazon.com, Inc) and FTNT (Fortinet, Inc.) are both stocks. AMZN operates in Internet Retail (Consumer Cyclical), while FTNT operates in Software - Infrastructure (Technology). Over the past 10 years, AMZN returned 20.83%/yr vs 36.02%/yr for FTNT. At a 0.42 correlation, their price movements are largely independent.

Performance

AMZN vs. FTNT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amazon.com, Inc (AMZN) and Fortinet, Inc. (FTNT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMZN achieves a 3.35% return, which is significantly lower than FTNT's 84.23% return. Over the past 10 years, AMZN has underperformed FTNT with an annualized return of 20.83%, while FTNT has yielded a comparatively higher 36.02% annualized return.

AMZN

• 1D: -1.23%
• 1M: -9.69%
• YTD: 3.35%
• 6M: 5.46%
• 1Y: 12.47%
• 3Y*: 23.49%
• 5Y*: 7.35%
• 10Y*: 20.83%

FTNT

• 1D: 0.85%
• 1M: 19.16%
• YTD: 84.23%
• 6M: 77.94%
• 1Y: 45.10%
• 3Y*: 27.56%
• 5Y*: 26.15%
• 10Y*: 36.02%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMZN vs. FTNT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMZN Amazon.com, Inc	3.35%	5.21%	44.39%	80.88%	-49.62%	2.38%	76.26%	23.03%	28.43%	55.96%
FTNT Fortinet, Inc.	84.23%	-15.95%	61.42%	19.72%	-31.98%	141.97%	39.13%	51.58%	61.20%	45.05%

Correlation

The correlation between AMZN and FTNT is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Nov 18, 2009	0.42

Over the past year, the correlation between AMZN and FTNT has dropped to 0.19 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.

Fundamentals

Market Cap AMZN : $2.59T FTNT : $108.67B
EPS AMZN : $8.37 FTNT : $2.58
PE Ratio AMZN : 28.50 FTNT : 56.81
PEG Ratio AMZN : 0.69 FTNT : 1.58
PS Ratio AMZN : 3.48 FTNT : 15.62
PB Ratio AMZN : 5.87 FTNT : 109.80
Total Revenue (TTM) AMZN : $742.78B FTNT : $7.11B
Gross Profit (TTM) AMZN : $348.59B FTNT : $5.74B
EBITDA (TTM) AMZN : $152.71B FTNT : $2.47B

Return for Risk

AMZN vs. FTNT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMZN

AMZN Risk / Return Rank: 54
AMZN Sharpe Ratio Rank: 57
AMZN Sortino Ratio Rank: 51
AMZN Omega Ratio Rank: 49
AMZN Calmar Ratio Rank: 55
AMZN Martin Ratio Rank: 57

FTNT

FTNT Risk / Return Rank: 69
FTNT Sharpe Ratio Rank: 73
FTNT Sortino Ratio Rank: 67
FTNT Omega Ratio Rank: 73
FTNT Calmar Ratio Rank: 70
FTNT Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMZN vs. FTNT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amazon.com, Inc (AMZN) and Fortinet, Inc. (FTNT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AMZN	FTNT	Difference
Sharpe ratio: Return per unit of total volatility	0.40	0.98	-0.58
Sortino ratio: Return per unit of downside risk	0.76	1.47	-0.71
Omega ratio: Gain probability vs. loss probability	1.09	1.23	-0.14
Calmar ratio: Return relative to maximum drawdown	0.55	1.43	-0.88
Martin ratio: Return relative to average drawdown	1.29	2.09	-0.80

AMZN vs. FTNT - Sharpe Ratio Comparison

The current AMZN Sharpe Ratio is 0.40, which is lower than the FTNT Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of AMZN and FTNT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AMZN vs. FTNT - Drawdown Comparison

The maximum AMZN drawdown since its inception was -94.40%, which is greater than FTNT's maximum drawdown of -51.20%. Use the drawdown chart below to compare losses from any high point for AMZN and FTNT.

Drawdown Indicators

	AMZN	FTNT	Difference
Max Drawdown Largest peak-to-trough decline	-94.40%	-51.20%	-43.20%
Max Drawdown (1Y) Largest decline over 1 year	-21.74%	-30.90%	+9.16%
Max Drawdown (3Y) Largest decline over 3 years	-30.88%	-38.32%	+7.44%
Max Drawdown (5Y) Largest decline over 5 years	-56.15%	-38.32%	-17.83%
Max Drawdown (10Y) Largest decline over 10 years	-56.15%	-38.32%	-17.83%
Current Drawdown Current decline from peak	-13.25%	-2.25%	-11.00%
Average Drawdown Average peak-to-trough decline	-28.19%	-16.22%	-11.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.21%	21.07%	-11.86%

Volatility

AMZN vs. FTNT - Volatility Comparison

The current volatility for Amazon.com, Inc (AMZN) is 7.92%, while Fortinet, Inc. (FTNT) has a volatility of 13.35%. This indicates that AMZN experiences smaller price fluctuations and is considered to be less risky than FTNT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMZN	FTNT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.92%	13.35%	-5.43%
Volatility (6M) Calculated over the trailing 6-month period	20.73%	31.79%	-11.06%
Volatility (1Y) Calculated over the trailing 1-year period	30.13%	45.18%	-15.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.53%	43.94%	-8.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.48%	40.88%	-8.40%

Dividends

AMZN vs. FTNT - Dividend Comparison

Neither AMZN nor FTNT has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

AMZN vs. FTNT - Profitability Comparison

The chart below illustrates the profitability comparison between Amazon.com, Inc and Fortinet, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AMZN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Amazon.com, Inc reported a gross profit of 66.77B and revenue of 181.52B. Therefore, the gross margin over that period was 36.8%.

FTNT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Fortinet, Inc. reported a gross profit of 1.49B and revenue of 1.85B. Therefore, the gross margin over that period was 80.3%.

AMZN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Amazon.com, Inc reported an operating income of 23.85B and revenue of 181.52B, resulting in an operating margin of 13.1%.

FTNT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Fortinet, Inc. reported an operating income of 580.00M and revenue of 1.85B, resulting in an operating margin of 31.4%.

AMZN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Amazon.com, Inc reported a net income of 30.26B and revenue of 181.52B, resulting in a net margin of 16.7%.

FTNT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Fortinet, Inc. reported a net income of 534.50M and revenue of 1.85B, resulting in a net margin of 28.9%.

Frequently Asked Questions

Can I hold both AMZN and FTNT in my portfolio?

AMZN and FTNT have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMZN or FTNT?

FTNT has higher volatility (13.35%) compared to AMZN (7.92%). In terms of maximum drawdown, AMZN dropped -94.40% vs FTNT's -51.20%.

Which has better risk-adjusted returns?

FTNT currently has the higher Sharpe Ratio (0.98 vs 0.40), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.