CIEN vs. IBB

Last updated Jun 4, 2026

CIEN (Ciena Corporation) is a stock, while IBB (iShares Nasdaq Biotechnology ETF) is Health & Biotech Equities fund tracking the NASDAQ Biotechnology Index. Over the past 10 years, CIEN returned 40.28%/yr vs 6.23%/yr for IBB. At a 0.42 correlation, their price movements are largely independent.

Performance

CIEN vs. IBB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ciena Corporation (CIEN) and iShares Nasdaq Biotechnology ETF (IBB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CIEN achieves a 165.26% return, which is significantly higher than IBB's -0.68% return. Over the past 10 years, CIEN has outperformed IBB with an annualized return of 40.28%, while IBB has yielded a comparatively lower 6.23% annualized return.

CIEN

• 1D: -1.06%
• 1M: 15.20%
• YTD: 165.26%
• 6M: 220.85%
• 1Y: 645.10%
• 3Y*: 134.47%
• 5Y*: 59.55%
• 10Y*: 40.28%

IBB

• 1D: 1.97%
• 1M: -1.56%
• YTD: -0.68%
• 6M: -2.57%
• 1Y: 34.50%
• 3Y*: 9.40%
• 5Y*: 2.10%
• 10Y*: 6.23%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CIEN vs. IBB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CIEN Ciena Corporation	165.26%	175.76%	88.42%	-11.71%	-33.77%	45.64%	23.80%	25.89%	62.02%	-14.26%
IBB iShares Nasdaq Biotechnology ETF	-0.68%	27.98%	-2.41%	3.76%	-13.69%	0.95%	26.01%	25.42%	-9.53%	21.08%

Correlation

The correlation between CIEN and IBB is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Feb 13, 2001	0.43

The correlation between CIEN and IBB shifts across timeframes, from 0.25 (1 year) to 0.42 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CIEN vs. IBB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CIEN

CIEN Risk / Return Rank: 99
CIEN Sharpe Ratio Rank: 100
CIEN Sortino Ratio Rank: 98
CIEN Omega Ratio Rank: 98
CIEN Calmar Ratio Rank: 100
CIEN Martin Ratio Rank: 100

IBB

IBB Risk / Return Rank: 56
IBB Sharpe Ratio Rank: 50
IBB Sortino Ratio Rank: 50
IBB Omega Ratio Rank: 46
IBB Calmar Ratio Rank: 71
IBB Martin Ratio Rank: 62

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CIEN vs. IBB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ciena Corporation (CIEN) and iShares Nasdaq Biotechnology ETF (IBB). 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.

	CIEN	IBB	Difference
Sharpe ratio: Return per unit of total volatility	9.97	1.74	+8.23
Sortino ratio: Return per unit of downside risk	5.64	2.50	+3.14
Omega ratio: Gain probability vs. loss probability	1.86	1.30	+0.56
Calmar ratio: Return relative to maximum drawdown	38.67	3.60	+35.07
Martin ratio: Return relative to average drawdown	113.44	11.43	+102.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CIEN vs. IBB - Sharpe Ratio Comparison

The current CIEN Sharpe Ratio is 9.97, which is higher than the IBB Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of CIEN and IBB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CIEN	IBB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	9.97	1.74	+8.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.25	0.10	+1.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.92	0.27	+0.65
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.26	-0.17

Drawdowns

CIEN vs. IBB - Drawdown Comparison

The maximum CIEN drawdown since its inception was -99.51%, which is greater than IBB's maximum drawdown of -62.85%. Use the drawdown chart below to compare losses from any high point for CIEN and IBB.

Drawdown Indicators

	CIEN	IBB	Difference
Max Drawdown Largest peak-to-trough decline	-99.51%	-62.85%	-36.66%
Max Drawdown (1Y) Largest decline over 1 year	-16.84%	-9.63%	-7.21%
Max Drawdown (3Y) Largest decline over 3 years	-45.51%	-24.85%	-20.66%
Max Drawdown (5Y) Largest decline over 5 years	-49.54%	-39.82%	-9.72%
Max Drawdown (10Y) Largest decline over 10 years	-49.54%	-39.82%	-9.72%
Current Drawdown Current decline from peak	-40.72%	-5.64%	-35.08%
Average Drawdown Average peak-to-trough decline	-87.12%	-21.18%	-65.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.73%	3.03%	+2.70%

Volatility

CIEN vs. IBB - Volatility Comparison

Ciena Corporation (CIEN) has a higher volatility of 19.50% compared to iShares Nasdaq Biotechnology ETF (IBB) at 6.86%. This indicates that CIEN's price experiences larger fluctuations and is considered to be riskier than IBB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CIEN	IBB	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.50%	6.86%	+12.64%
Volatility (6M) Calculated over the trailing 6-month period	52.85%	15.38%	+37.47%
Volatility (1Y) Calculated over the trailing 1-year period	65.31%	19.89%	+45.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.89%	21.99%	+25.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.99%	23.22%	+20.77%

Dividends

CIEN vs. IBB - Dividend Comparison

CIEN has not paid dividends to shareholders, while IBB's dividend yield for the trailing twelve months is around 0.23%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIEN Ciena Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IBB iShares Nasdaq Biotechnology ETF	0.23%	0.23%	0.29%	0.26%	0.31%	0.21%	0.21%	0.33%	0.20%	0.30%	0.19%	0.03%

Frequently Asked Questions

Can I hold both CIEN and IBB in my portfolio?

CIEN and IBB have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CIEN or IBB?

CIEN has higher volatility (19.50%) compared to IBB (6.86%). In terms of maximum drawdown, CIEN dropped -99.51% vs IBB's -62.85%.

Which has better risk-adjusted returns?

CIEN currently has the higher Sharpe Ratio (9.97 vs 1.74), 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.