CIEN vs. TER
CIEN (Ciena Corporation) and TER (Teradyne, Inc.) are both stocks. Both are in the Technology sector — CIEN in Communication Equipment, TER in Semiconductor Equipment & Materials. Over the past 10 years, CIEN returned 36.28%/yr vs 34.87%/yr for TER. At a 0.45 correlation, their price movements are largely independent.
Performance
CIEN vs. TER - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CIEN achieves a 99.54% return, which is significantly higher than TER's 93.73% return. Both investments have delivered pretty close results over the past 10 years, with CIEN having a 36.28% annualized return and TER not far behind at 34.87%.
CIEN
- 1D
- -4.41%
- 1M
- -14.86%
- YTD
- 99.54%
- 6M
- 119.17%
- 1Y
- 541.74%
- 3Y*
- 124.31%
- 5Y*
- 50.68%
- 10Y*
- 36.28%
TER
- 1D
- 4.68%
- 1M
- 4.19%
- YTD
- 93.73%
- 6M
- 84.73%
- 1Y
- 340.75%
- 3Y*
- 53.39%
- 5Y*
- 25.10%
- 10Y*
- 34.87%
CIEN vs. TER - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CIEN Ciena Corporation | 99.54% | 175.76% | 88.42% | -11.71% | -33.77% | 45.64% | 23.80% | 25.89% | 62.02% | -14.26% |
TER Teradyne, Inc. | 93.73% | 54.39% | 16.51% | 24.78% | -46.35% | 36.81% | 76.73% | 118.93% | -24.37% | 66.16% |
Correlation
The correlation between CIEN and TER is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 1997 | 0.45 |
The correlation between CIEN and TER shifts across timeframes, from 0.45 (all time) to 0.55 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
CIEN:
$68.28B
TER:
$59.06B
CIEN:
$3.01
TER:
$5.38
CIEN:
154.94
TER:
69.70
CIEN:
12.19
TER:
15.72
CIEN:
23.61
TER:
18.79
CIEN:
$5.57B
TER:
$3.79B
CIEN:
$2.40B
TER:
$2.23B
CIEN:
$670.55M
TER:
$1.11B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CIEN vs. TER — Risk / Return Rank
CIEN
TER
CIEN vs. TER - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ciena Corporation (CIEN) and Teradyne, Inc. (TER). 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 | TER | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.76 | 1.63 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 21.37 | 12.85 | +8.53 |
| Martin ratioReturn relative to average drawdown | 100.03 | 46.52 | +53.51 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| CIEN | TER | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 8.23 | 5.19 | +3.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.05 | 0.51 | +0.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | 0.78 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | 0.22 | -0.15 |
Drawdowns
CIEN vs. TER - Drawdown Comparison
The maximum CIEN drawdown since its inception was -99.51%, roughly equal to the maximum TER drawdown of -97.30%. Use the drawdown chart below to compare losses from any high point for CIEN and TER.
Loading charts...
Drawdown Indicators
| CIEN | TER | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.51% | -97.30% | -2.21% |
Max Drawdown (1Y)Largest decline over 1 year | -25.57% | -26.73% | +1.16% |
Max Drawdown (3Y)Largest decline over 3 years | -45.51% | -58.18% | +12.67% |
Max Drawdown (5Y)Largest decline over 5 years | -49.54% | -59.12% | +9.58% |
Max Drawdown (10Y)Largest decline over 10 years | -49.54% | -59.12% | +9.58% |
Current DrawdownCurrent decline from peak | -55.41% | -10.34% | -45.07% |
Average DrawdownAverage peak-to-trough decline | -87.11% | -58.69% | -28.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.45% | 7.37% | -1.92% |
Volatility
CIEN vs. TER - Volatility Comparison
Ciena Corporation (CIEN) has a higher volatility of 25.17% compared to Teradyne, Inc. (TER) at 21.89%. This indicates that CIEN's price experiences larger fluctuations and is considered to be riskier than TER based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CIEN | TER | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.17% | 21.89% | +3.28% |
Volatility (6M)Calculated over the trailing 6-month period | 55.99% | 51.74% | +4.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.51% | 66.25% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.49% | 49.92% | -1.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.33% | 45.15% | -0.82% |
Dividends
CIEN vs. TER - Dividend Comparison
CIEN has not paid dividends to shareholders, while TER's dividend yield for the trailing twelve months is around 0.13%.
| 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% |
TER Teradyne, Inc. | 0.13% | 0.25% | 0.38% | 0.41% | 0.50% | 0.24% | 0.33% | 0.53% | 1.15% | 0.67% | 0.94% | 1.16% |
Financials
CIEN vs. TER - Financials Comparison
This section allows you to compare key financial metrics between Ciena Corporation and Teradyne, Inc.. 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. TER - Profitability Comparison
CIEN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 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%.
TER - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Teradyne, Inc. reported a gross profit of 780.95M and revenue of 1.28B. Therefore, the gross margin over that period was 60.9%.
CIEN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Ciena Corporation reported an operating income of 237.87M and revenue of 1.57B, resulting in an operating margin of 15.1%.
TER - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Teradyne, Inc. reported an operating income of 473.00M and revenue of 1.28B, resulting in an operating margin of 36.9%.
CIEN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Ciena Corporation reported a net income of 218.22M and revenue of 1.57B, resulting in a net margin of 13.9%.
TER - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Teradyne, Inc. reported a net income of 398.91M and revenue of 1.28B, resulting in a net margin of 31.1%.
Frequently Asked Questions
CIEN and TER have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CIEN has higher volatility (25.17%) compared to TER (21.89%). In terms of maximum drawdown, CIEN dropped -99.51% vs TER's -97.30%.
CIEN currently has the higher Sharpe Ratio (8.23 vs 5.19), 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.
Find the right allocation for CIEN and TER
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer