CIEN vs. GSG
CIEN (Ciena Corporation) is a stock, while GSG (iShares S&P GSCI Commodity-Indexed Trust) is Commodities fund tracking the S&P GSCI Total Return Index. Over the past 10 years, CIEN returned 34.99%/yr vs 8.91%/yr for GSG. Their 0.19 correlation means their historical movements had little consistent relationship.
Performance
CIEN vs. GSG - 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 GSG's 38.94% return. Over the past 10 years, CIEN has outperformed GSG with an annualized return of 34.99%, while GSG has yielded a comparatively lower 8.91% 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%
GSG
- 1D
- 0.28%
- 1M
- 12.94%
- 6M
- 25.75%
- YTD
- 38.94%
- 1Y
- 42.34%
- 3Y*
- 14.13%
- 5Y*
- 14.47%
- 10Y*
- 8.91%
- ALL TIME*
- -2.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $806.95M | $796.48M | $1.31B | |
| $16.60M | $17.31M | $26.52M |
CIEN vs. GSG - 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% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 38.94% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Correlation
The correlation between CIEN and GSG is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.02 |
Correlation (3Y) Balances recent behavior with more history. | 0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.08 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jul 21, 2006 | 0.19 |
The correlation between CIEN and GSG shifts across timeframes, from -0.02 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CIEN vs. GSG — Risk / Return Rank
CIEN
GSG
CIEN vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ciena Corporation (CIEN) and iShares S&P GSCI Commodity-Indexed Trust (GSG). 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 | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.60 | ||
| Sortino ratioReturn per unit of downside risk | +1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.29 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 6.52 | 2.16 | +4.35 |
| Martin ratioReturn relative to average drawdown | 22.70 | 6.99 | +15.71 |
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Drawdowns
CIEN vs. GSG - Drawdown Comparison
The maximum CIEN drawdown since its inception was -99.51%, which is greater than GSG's maximum drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for CIEN and GSG.
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Drawdown Indicators
| CIEN | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.51% | -89.62% | -9.89% |
Max Drawdown (1Y)Largest decline over 1 year | -47.31% | -18.81% | -28.50% |
Max Drawdown (3Y)Largest decline over 3 years | -47.31% | -18.81% | -28.50% |
Max Drawdown (5Y)Largest decline over 5 years | -49.54% | -29.12% | -20.42% |
Max Drawdown (10Y)Largest decline over 10 years | -49.54% | -57.64% | +8.10% |
Current DrawdownCurrent decline from peak | -63.97% | -58.05% | -5.92% |
Average DrawdownAverage peak-to-trough decline | -86.96% | -63.67% | -23.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.56% | 5.84% | +7.72% |
Volatility
CIEN vs. GSG - Volatility Comparison
Ciena Corporation (CIEN) has a higher volatility of 24.88% compared to iShares S&P GSCI Commodity-Indexed Trust (GSG) at 8.11%. This indicates that CIEN's price experiences larger fluctuations and is considered to be riskier than GSG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CIEN | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.88% | 8.11% | +16.77% |
Volatility (6M)Calculated over the trailing 6-month period | 56.38% | 22.18% | +34.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.06% | 24.23% | +47.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.12% | 22.86% | +27.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.05% | 22.06% | +22.99% |
Dividends
CIEN vs. GSG - Dividend Comparison
Neither CIEN nor GSG has paid dividends to shareholders.
Frequently Asked Questions
CIEN and GSG have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CIEN has higher volatility (24.88%) compared to GSG (8.11%). In terms of maximum drawdown, CIEN dropped -99.51% vs GSG's -89.62%.
CIEN currently has the higher Sharpe Ratio (4.28 vs 1.68), 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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