CIEN vs FN: Correlation
Measured on weekly returns over the past three years, Ciena (CIEN) and Fabrinet (FN) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIEN and FN?
Across a 3-year window, the weekly returns of CIEN and FN correlate at 0.52, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.52 over 3. Stretching to 5 years gives 0.49, with an annualized covariance of 1453.9 %².
Among the 28 assets we track against CIEN, FN ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CIEN outperformed by 301.0 percentage points (+331.2% for CIEN against +30.2% for FN).
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 FN: side by side
| CIEN (Ciena) | FN (Fabrinet) | |
|---|---|---|
| 1-year return | +331.2% | +30.2% |
| 5-year return | +598.5% | +317.1% |
| Volatility (ann.) | 50.1% | 55.4% |
| Beta vs S&P 500 | 1.59 | 1.97 |
| Max drawdown (3Y) | -47.3% | -44.5% |
| Market cap | $56.6B | $15.5B |
| P/E (trailing) | 133.7 | 33.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CIEN | FN |
|---|---|---|
| 2022 | -33.8% | +8.2% |
| 2023 | -11.7% | +48.4% |
| 2024 | +88.4% | +15.5% |
| 2025 | +175.8% | +107.1% |
| 2026 | +71.0% | -5.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIEN and FN good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CIEN and FN?
The CIEN/FN correlation stands at 0.52 on a 3-year window (1 year: 0.49, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is FN a good diversifier for CIEN?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cien-vs-fn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cien-vs-fn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CIEN correlations · FN correlations
