CIEN vs CII: Correlation
Ciena (CIEN) and BlackRock Enhanced Large Cap Core Fund, Inc. (CII) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIEN and CII?
Over the past 3 years, CIEN and CII moved with a correlation of 0.49, which is moderate. The relationship has been stable: the 1-year correlation (0.40) sits close to the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 438.3 %².
Within CIEN's tracked universe of 28 assets, CII comes in at #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CIEN outperformed by 300.2 percentage points (+331.2% for CIEN against +31.0% for CII). Note the risk asymmetry: CIEN runs 2.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CIEN vs CII: side by side
| CIEN (Ciena) | CII (BlackRock Enhanced Large Cap Core Fund, Inc.) | |
|---|---|---|
| 1-year return | +331.2% | +31.0% |
| 5-year return | +598.5% | +85.9% |
| Volatility (ann.) | 50.1% | 17.7% |
| Beta vs S&P 500 | 1.59 | 0.97 |
| Max drawdown (3Y) | -47.3% | -21.1% |
| Market cap | $56.6B | $1.0B |
| P/E (trailing) | 133.7 | 4.8 |
| Dividend yield | 0.00% | 8.38% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CIEN | CII |
|---|---|---|
| 2022 | -33.8% | -13.2% |
| 2023 | -11.7% | +18.5% |
| 2024 | +88.4% | +12.7% |
| 2025 | +175.8% | +37.8% |
| 2026 | +71.0% | +11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIEN and CII good diversifiers for each other?
Reasonably. At 0.49, CIEN and CII keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CIEN and CII?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.40 over the last year and 0.48 over 5 years.
Is CII a good diversifier for CIEN?
Reasonably. At 0.49, CIEN and CII keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 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
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Related comparisons
Hubs: CIEN correlations · CII correlations
