COHR vs VOO: Correlation
Measured on weekly returns over the past three years, Coherent Corp. (COHR) and Vanguard S&P 500 ETF (VOO) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COHR and VOO?
On 3 years of weekly data the COHR/VOO correlation comes out at 0.62, strong. The link has loosened recently: the 1-year correlation (0.42) runs below the 3-year figure (0.62). The 5-year figure is 0.58, and annualized covariance runs at 575.9 %².
By 3-year correlation, VOO places #13 of the 41 assets tracked against COHR. The last year tells two different stories: COHR led by 205.0 percentage points, +225.6% for COHR against +20.6% for VOO. The relationship is regime-dependent: the rolling one-year correlation swung between 0.28 and 0.82 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since COHR carries 4.5 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 VOO: side by side
| COHR (Coherent Corp.) | VOO (Vanguard S&P 500 ETF) | |
|---|---|---|
| 1-year return | +225.6% | +20.6% |
| 5-year return | +368.6% | +83.0% |
| Volatility (ann.) | 65.0% | 14.4% |
| Beta vs S&P 500 | 2.76 | 0.99 |
| Max drawdown (3Y) | -54.8% | -18.7% |
| Market cap | $57.8B | – |
| P/E (trailing) | 71.4 | – |
| Dividend yield | 0.00% | 1.07% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $1,686.9B |
| Sector / category | Information Technology | ETF · US Large Cap |
VOO, Vanguard's Large Blend fund, carries $1,686.9B under management, 503 holdings, a 0.03% expense ratio, a 1.07% trailing dividend yield.
Year-by-year returns
| Year | COHR | VOO |
|---|---|---|
| 2022 | -48.6% | -18.2% |
| 2023 | +24.0% | +26.3% |
| 2024 | +117.6% | +25.0% |
| 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
A structural note: 0.08% of VOO is COHR itself, so the fund partly moves with the stock by construction.
Are COHR and VOO good diversifiers for each other?
To a limited degree. At 0.62 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 VOO?
As of 2026-08-27, the correlation of weekly returns between COHR and VOO is 0.62 over 3 years, 0.42 over 1 year and 0.58 over 5 years.
Is VOO a good diversifier for COHR?
To a limited degree. At 0.62 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 0.62 mean?
On the −1 to +1 scale, 0.62 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: COHR correlations · VOO correlations
