CIEN vs GLW: Correlation
How closely do Ciena (CIEN) and Corning Inc. (GLW) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIEN and GLW?
Across a 3-year window, the weekly returns of CIEN and GLW correlate at 0.57, moderate. Recent behaviour matches the longer record: 0.63 over 1 year against 0.57 over 3. Stretching to 5 years gives 0.53, with an annualized covariance of 1211.0 %².
GLW is one of the assets that tracks CIEN most closely: it ranks #2 out of the 28 assets we track against CIEN. Correlation aside, the last 12 months split them widely, with CIEN ahead by 201.5 points (+331.2% versus +129.7%). The rolling one-year correlation moved between 0.26 and 0.72 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 GLW: side by side
| CIEN (Ciena) | GLW (Corning Inc.) | |
|---|---|---|
| 1-year return | +331.2% | +129.7% |
| 5-year return | +598.5% | +331.4% |
| Volatility (ann.) | 50.1% | 42.1% |
| Beta vs S&P 500 | 1.59 | 1.15 |
| Max drawdown (3Y) | -47.3% | -51.5% |
| Market cap | $56.6B | $131.6B |
| P/E (trailing) | 133.7 | 70.4 |
| Dividend yield | 0.00% | 0.73% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | CIEN | GLW |
|---|---|---|
| 2022 | -33.8% | -11.6% |
| 2023 | -11.7% | -1.2% |
| 2024 | +88.4% | +60.6% |
| 2025 | +175.8% | +87.8% |
| 2026 | +71.0% | +75.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIEN and GLW good diversifiers for each other?
To a limited degree. At 0.57 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 GLW?
As of 2026-08-27, the correlation of weekly returns between CIEN and GLW is 0.57 over 3 years, 0.63 over 1 year and 0.53 over 5 years.
Is GLW a good diversifier for CIEN?
To a limited degree. At 0.57 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 0.57 mean?
On the −1 to +1 scale, 0.57 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.
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Related comparisons
Hubs: CIEN correlations · GLW correlations
