COHR vs SO: Correlation
Measured on weekly returns over the past three years, Coherent Corp. (COHR) and Southern Company (SO) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COHR and SO?
Across a 3-year window, the weekly returns of COHR and SO correlate at -0.17, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.13) sits close to the 3-year figure. Stretching to 5 years gives -0.08, with an annualized covariance of -182.7 %².
Among the 41 assets we track against COHR, SO ranks #32 by 3-year correlation. Correlation aside, the last 12 months split them widely, with COHR ahead by 227.0 points (+225.6% versus -1.4%). On a rolling one-year basis the correlation drifted between -0.40 and -0.07, a moderate band. Risk is not evenly split, since COHR carries 3.9 times the volatility of the other side.
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 SO: side by side
| COHR (Coherent Corp.) | SO (Southern Company) | |
|---|---|---|
| 1-year return | +225.6% | -1.4% |
| 5-year return | +368.6% | +62.6% |
| Volatility (ann.) | 65.0% | 16.5% |
| Beta vs S&P 500 | 2.76 | -0.02 |
| Max drawdown (3Y) | -54.8% | -15.0% |
| Market cap | $57.8B | $102.4B |
| P/E (trailing) | 71.4 | 21.7 |
| Dividend yield | 0.00% | 3.32% |
| Sector / category | Information Technology | Utilities |
Year-by-year returns
| Year | COHR | SO |
|---|---|---|
| 2022 | -48.6% | +8.2% |
| 2023 | +24.0% | +2.2% |
| 2024 | +117.6% | +21.7% |
| 2025 | +94.8% | +9.5% |
| 2026 | +60.0% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COHR and SO good diversifiers for each other?
Yes. With a correlation of -0.17, COHR and SO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between COHR and SO?
As of 2026-08-27, the correlation of weekly returns between COHR and SO is -0.17 over 3 years, -0.13 over 1 year and -0.08 over 5 years.
Is SO a good diversifier for COHR?
Yes. With a correlation of -0.17, COHR and SO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.17 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 · SO correlations
