COHR vs GLW: Correlation
Measured on weekly returns over the past three years, Coherent Corp. (COHR) and Corning Inc. (GLW) 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 COHR and GLW?
Over the past 3 years, COHR and GLW moved with a correlation of 0.53, which is moderate. The relationship has been stable: the 1-year correlation (0.57) sits close to the 3-year figure. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 1461.5 %².
By 3-year correlation, GLW places #22 of the 41 assets tracked against COHR. The last year tells two different stories: COHR led by 95.9 percentage points, +225.6% for COHR against +129.7% for GLW. This link changes with the market regime, having swung between 0.23 and 0.75 on a rolling one-year basis. One caveat on sizing: COHR is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
COHR vs GLW: side by side
| COHR (Coherent Corp.) | GLW (Corning Inc.) | |
|---|---|---|
| 1-year return | +225.6% | +129.7% |
| 5-year return | +368.6% | +331.4% |
| Volatility (ann.) | 65.0% | 42.1% |
| Beta vs S&P 500 | 2.76 | 1.15 |
| Max drawdown (3Y) | -54.8% | -51.5% |
| Market cap | $57.8B | $131.6B |
| P/E (trailing) | 71.4 | 70.4 |
| Dividend yield | 0.00% | 0.73% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | COHR | GLW |
|---|---|---|
| 2022 | -48.6% | -11.6% |
| 2023 | +24.0% | -1.2% |
| 2024 | +117.6% | +60.6% |
| 2025 | +94.8% | +87.8% |
| 2026 | +60.0% | +75.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COHR and GLW good diversifiers for each other?
Only partially. A correlation of 0.53 means COHR and GLW 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 COHR and GLW?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.57 over the last year and 0.52 over 5 years.
Is GLW a good diversifier for COHR?
Only partially. A correlation of 0.53 means COHR and GLW 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?
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.
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Related comparisons
Hubs: COHR correlations · GLW correlations
