CIEN vs COHR: Correlation
Measured on weekly returns over the past three years, Ciena (CIEN) and Coherent Corp. (COHR) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIEN and COHR?
Over the past 3 years, CIEN and COHR moved with a correlation of 0.53, which is moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 1730.8 %².
Among the 28 assets we track against CIEN, COHR ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CIEN outperformed by 105.6 percentage points (+331.2% for CIEN against +225.6% for COHR). The rolling one-year correlation moved between 0.33 and 0.70 over the past three years, a moderate range.
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 COHR: side by side
| CIEN (Ciena) | COHR (Coherent Corp.) | |
|---|---|---|
| 1-year return | +331.2% | +225.6% |
| 5-year return | +598.5% | +368.6% |
| Volatility (ann.) | 50.1% | 65.0% |
| Beta vs S&P 500 | 1.59 | 2.76 |
| Max drawdown (3Y) | -47.3% | -54.8% |
| Market cap | $56.6B | $57.8B |
| P/E (trailing) | 133.7 | 71.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | CIEN | COHR |
|---|---|---|
| 2022 | -33.8% | -48.6% |
| 2023 | -11.7% | +24.0% |
| 2024 | +88.4% | +117.6% |
| 2025 | +175.8% | +94.8% |
| 2026 | +71.0% | +60.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIEN and COHR good diversifiers for each other?
Only partially. A correlation of 0.53 means CIEN and COHR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CIEN and COHR?
As of 2026-08-27, the correlation of weekly returns between CIEN and COHR is 0.53 over 3 years, 0.47 over 1 year and 0.51 over 5 years.
Is COHR a good diversifier for CIEN?
Only partially. A correlation of 0.53 means CIEN and COHR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
A reading of 0.53 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/cien-vs-cohr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cien-vs-cohr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CIEN correlations · COHR correlations
