ANET vs. FTNT
ANET (Arista Networks, Inc.) and FTNT (Fortinet, Inc.) are both stocks. Both are in the Technology sector — ANET in Computer Hardware, FTNT in Software - Infrastructure. Over the past 10 years, ANET returned 45.01%/yr vs 37.30%/yr for FTNT. Their 0.48 correlation means their historical movements had little consistent relationship.
Performance
ANET vs. FTNT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ANET achieves a 37.64% return, which is significantly lower than FTNT's 103.94% return. Over the past 10 years, ANET has outperformed FTNT with an annualized return of 45.01%, while FTNT has yielded a comparatively lower 37.30% annualized return.
ANET
- 1D
- 5.46%
- 1M
- 8.24%
- 6M
- 27.24%
- YTD
- 37.64%
- 1Y
- 46.36%
- 3Y*
- 57.23%
- 5Y*
- 49.97%
- 10Y*
- 45.01%
- ALL TIME*
- 38.48%
FTNT
- 1D
- 4.99%
- 1M
- 1.87%
- 6M
- 99.30%
- YTD
- 103.94%
- 1Y
- 62.11%
- 3Y*
- 27.56%
- 5Y*
- 24.36%
- 10Y*
- 37.30%
- ALL TIME*
- 31.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.09B | $1.31B | $1.55B | |
FTNT Fortinet, Inc. | $952.63M | $852.74M | $900.80M |
ANET vs. FTNT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ANET Arista Networks, Inc. | 37.64% | 18.55% | 87.73% | 94.07% | -15.58% | 97.89% | 42.86% | -3.46% | -10.56% | 143.44% |
FTNT Fortinet, Inc. | 103.94% | -15.95% | 61.42% | 19.72% | -31.98% | 141.97% | 39.13% | 51.58% | 61.20% | 45.05% |
Correlation
The correlation between ANET and FTNT is 0.29, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.29 |
Correlation (3Y) Balances recent behavior with more history. | 0.36 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.48 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2014 | 0.48 |
The correlation between ANET and FTNT shifts across timeframes, from 0.29 (1 year) to 0.49 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
ANET:
$227.09B
FTNT:
$118.65B
ANET:
$2.92
FTNT:
$2.83
ANET:
61.82
FTNT:
57.32
ANET:
1.45
FTNT:
1.59
ANET:
23.69
FTNT:
16.15
ANET:
17.03
FTNT:
77.40
ANET:
$9.71B
FTNT:
$7.53B
ANET:
$6.17B
FTNT:
$6.05B
ANET:
$4.21B
FTNT:
$2.70B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ANET vs. FTNT — Risk / Return Rank
ANET
FTNT
ANET vs. FTNT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Arista Networks, Inc. (ANET) 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.
| ANET | FTNT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.29 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.64 | 2.55 | -0.90 |
| Martin ratioReturn relative to average drawdown | 3.37 | 4.11 | -0.75 |
Loading charts...
Drawdowns
ANET vs. FTNT - Drawdown Comparison
The maximum ANET drawdown since its inception was -52.20%, roughly equal to the maximum FTNT drawdown of -51.20%. Use the drawdown chart below to compare losses from any high point for ANET and FTNT.
Loading charts...
Drawdown Indicators
| ANET | FTNT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.20% | -51.20% | -1.00% |
Max Drawdown (1Y)Largest decline over 1 year | -28.33% | -24.52% | -3.81% |
Max Drawdown (3Y)Largest decline over 3 years | -50.42% | -35.07% | -15.35% |
Max Drawdown (5Y)Largest decline over 5 years | -50.42% | -38.32% | -12.10% |
Max Drawdown (10Y)Largest decline over 10 years | -52.20% | -38.32% | -13.88% |
Current DrawdownCurrent decline from peak | -3.54% | -2.93% | -0.61% |
Average DrawdownAverage peak-to-trough decline | -15.30% | -16.12% | +0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.82% | 16.09% | -2.27% |
Volatility
ANET vs. FTNT - Volatility Comparison
Arista Networks, Inc. (ANET) has a higher volatility of 19.95% compared to Fortinet, Inc. (FTNT) at 11.57%. This indicates that ANET's price experiences larger fluctuations and is considered to be riskier than FTNT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ANET | FTNT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.95% | 11.57% | +8.38% |
Volatility (6M)Calculated over the trailing 6-month period | 43.19% | 32.98% | +10.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.22% | 45.60% | +10.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.29% | 44.22% | +4.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.33% | 40.85% | +4.48% |
Dividends
ANET vs. FTNT - Dividend Comparison
Neither ANET nor FTNT has paid dividends to shareholders.
Financials
ANET vs. FTNT - Financials Comparison
This section allows you to compare key financial metrics between Arista Networks, Inc. and Fortinet, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
ANET vs. FTNT - Profitability Comparison
ANET - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Arista Networks, Inc. reported a gross profit of 1.68B and revenue of 2.71B. Therefore, the gross margin over that period was 61.9%.
FTNT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Fortinet, Inc. reported a gross profit of 1.64B and revenue of 2.05B. Therefore, the gross margin over that period was 80.2%.
ANET - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Arista Networks, Inc. reported an operating income of 1.16B and revenue of 2.71B, resulting in an operating margin of 42.7%.
FTNT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Fortinet, Inc. reported an operating income of 689.30M and revenue of 2.05B, resulting in an operating margin of 33.7%.
ANET - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Arista Networks, Inc. reported a net income of 1.02B and revenue of 2.71B, resulting in a net margin of 37.8%.
FTNT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Fortinet, Inc. reported a net income of 606.30M and revenue of 2.05B, resulting in a net margin of 29.6%.
Frequently Asked Questions
ANET and FTNT have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ANET has higher volatility (19.95%) compared to FTNT (11.57%). In terms of maximum drawdown, ANET dropped -52.20% vs FTNT's -51.20%.
FTNT currently has the higher Sharpe Ratio (1.37 vs 0.83), 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.
Find the right allocation for ANET and FTNT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer