COHR vs IVV: Correlation
Coherent Corp. (COHR) and iShares Core S&P 500 ETF (IVV) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COHR and IVV?
Over the past 3 years, COHR and IVV moved with a correlation of 0.61, which is strong. The link has loosened recently: the 1-year correlation (0.41) runs below the 3-year figure (0.61). Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 579.1 %².
By 3-year correlation, IVV places #14 of the 41 assets tracked against COHR. The last year tells two different stories: COHR led by 204.9 percentage points, +225.6% for COHR against +20.7% for IVV. This link changes with the market regime, having swung between 0.28 and 0.82 on a rolling one-year basis. One caveat on sizing: COHR is 4.5 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 IVV: side by side
| COHR (Coherent Corp.) | IVV (iShares Core S&P 500 ETF) | |
|---|---|---|
| 1-year return | +225.6% | +20.7% |
| 5-year return | +368.6% | +83.0% |
| Volatility (ann.) | 65.0% | 14.5% |
| Beta vs S&P 500 | 2.76 | 1.00 |
| Max drawdown (3Y) | -54.8% | -18.8% |
| Market cap | $57.8B | – |
| P/E (trailing) | 71.4 | – |
| Dividend yield | 0.00% | 1.09% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $869.2B |
| Sector / category | Information Technology | ETF · US Large Cap |
IVV is a Large Blend fund from iShares: $869.2B under management, 503 holdings, a 0.03% expense ratio, a 1.09% trailing dividend yield.
Year-by-year returns
| Year | COHR | IVV |
|---|---|---|
| 2022 | -48.6% | -18.2% |
| 2023 | +24.0% | +26.3% |
| 2024 | +117.6% | +24.9% |
| 2025 | +94.8% | +17.8% |
| 2026 | +60.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that IVV holds COHR at a 0.09% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are COHR and IVV good diversifiers for each other?
To a limited degree. At 0.61 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 COHR and IVV?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.41 over the last year and 0.58 over 5 years.
Is IVV a good diversifier for COHR?
To a limited degree. At 0.61 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 0.61 mean?
A reading of 0.61 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/cohr-vs-ivv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cohr-vs-ivv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: COHR correlations · IVV correlations
