CIEN vs. COHR
CIEN (Ciena Corporation) and COHR (Coherent Corp.) are both stocks. Both are in the Technology sector — CIEN in Communication Equipment, COHR in Scientific & Technical Instruments. Over the past 10 years, CIEN returned 34.99%/yr vs 28.55%/yr for COHR. Their 0.36 correlation means their historical movements had little consistent relationship.
Performance
CIEN vs. COHR - Performance Comparison
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Returns By Period
In the year-to-date period, CIEN achieves a 61.22% return, which is significantly higher than COHR's 42.43% return. Over the past 10 years, CIEN has outperformed COHR with an annualized return of 34.99%, while COHR has yielded a comparatively lower 28.55% annualized return.
CIEN
- 1D
- 1.34%
- 1M
- -10.75%
- 6M
- 49.74%
- YTD
- 61.22%
- 1Y
- 325.42%
- 3Y*
- 107.88%
- 5Y*
- 45.34%
- 10Y*
- 34.99%
- ALL TIME*
- 4.10%
COHR
- 1D
- 5.55%
- 1M
- -21.14%
- 6M
- 23.90%
- YTD
- 42.43%
- 1Y
- 155.75%
- 3Y*
- 77.59%
- 5Y*
- 30.37%
- 10Y*
- 28.55%
- ALL TIME*
- 19.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $806.95M | $796.48M | $1.31B | |
COHR Coherent Corp. | $1.31B | $1.37B | $2.05B |
CIEN vs. COHR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CIEN Ciena Corporation | 61.22% | 175.76% | 88.42% | -11.71% | -33.77% | 45.64% | 23.80% | 25.89% | 62.02% | -14.26% |
COHR Coherent Corp. | 42.43% | 94.84% | 117.62% | 24.02% | -48.63% | -10.04% | 125.60% | 3.73% | -30.86% | 58.35% |
Correlation
The correlation between CIEN and COHR is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.66 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.64 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.55 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 1997 | 0.36 |
Over the past year, CIEN and COHR have become more correlated (0.74) than their long-term average of 0.36, meaning their price movements have been converging.
Fundamentals
CIEN:
$53.37B
COHR:
$51.43B
CIEN:
$3.01
COHR:
$1.85K
CIEN:
125.18
COHR:
0.14
CIEN:
9.85
COHR:
0.02
CIEN:
$5.57B
COHR:
$1.81T
CIEN:
$2.40B
COHR:
$1.76B
CIEN:
$670.55M
COHR:
$960.76M
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Return for Risk
CIEN vs. COHR — Risk / Return Rank
CIEN
COHR
CIEN vs. COHR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ciena Corporation (CIEN) and Coherent Corp. (COHR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CIEN | COHR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.49 | ||
| Sortino ratioReturn per unit of downside risk | +1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.29 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 6.52 | 3.03 | +3.49 |
| Martin ratioReturn relative to average drawdown | 22.70 | 10.76 | +11.93 |
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Drawdowns
CIEN vs. COHR - Drawdown Comparison
The maximum CIEN drawdown since its inception was -99.51%, which is greater than COHR's maximum drawdown of -80.89%. Use the drawdown chart below to compare losses from any high point for CIEN and COHR.
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Drawdown Indicators
| CIEN | COHR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.51% | -80.89% | -18.62% |
Max Drawdown (1Y)Largest decline over 1 year | -47.31% | -47.98% | +0.67% |
Max Drawdown (3Y)Largest decline over 3 years | -47.31% | -54.85% | +7.54% |
Max Drawdown (5Y)Largest decline over 5 years | -49.54% | -62.87% | +13.33% |
Max Drawdown (10Y)Largest decline over 10 years | -49.54% | -72.22% | +22.68% |
Current DrawdownCurrent decline from peak | -63.97% | -38.42% | -25.55% |
Average DrawdownAverage peak-to-trough decline | -86.96% | -34.97% | -51.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.56% | 13.46% | +0.10% |
Volatility
CIEN vs. COHR - Volatility Comparison
The current volatility for Ciena Corporation (CIEN) is 24.88%, while Coherent Corp. (COHR) has a volatility of 29.28%. This indicates that CIEN experiences smaller price fluctuations and is considered to be less risky than COHR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CIEN | COHR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.88% | 29.28% | -4.40% |
Volatility (6M)Calculated over the trailing 6-month period | 56.38% | 64.16% | -7.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.06% | 81.08% | -9.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.12% | 63.47% | -13.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.05% | 57.61% | -12.56% |
Dividends
CIEN vs. COHR - Dividend Comparison
Neither CIEN nor COHR has paid dividends to shareholders.
Financials
CIEN vs. COHR - Financials Comparison
This section allows you to compare key financial metrics between Ciena Corporation and Coherent Corp.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
CIEN vs. COHR - Profitability Comparison
CIEN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Ciena Corporation reported a gross profit of 691.55M and revenue of 1.57B. Therefore, the gross margin over that period was 44.0%.
COHR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Coherent Corp. reported a gross profit of 0.00 and revenue of 1.81T. Therefore, the gross margin over that period was 0.0%.
CIEN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Ciena Corporation reported an operating income of 237.87M and revenue of 1.57B, resulting in an operating margin of 15.1%.
COHR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Coherent Corp. reported an operating income of 0.00 and revenue of 1.81T, resulting in an operating margin of 0.0%.
CIEN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Ciena Corporation reported a net income of 218.22M and revenue of 1.57B, resulting in a net margin of 13.9%.
COHR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Coherent Corp. reported a net income of 191.40B and revenue of 1.81T, resulting in a net margin of 10.6%.
Frequently Asked Questions
CIEN and COHR have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COHR has higher volatility (29.28%) compared to CIEN (24.88%). In terms of maximum drawdown, CIEN dropped -99.51% vs COHR's -80.89%.
CIEN currently has the higher Sharpe Ratio (4.28 vs 1.79), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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