COHR vs. CIEN
COHR (Coherent, Inc.) and CIEN (Ciena Corporation) are both stocks. Both are in the Technology sector — COHR in Scientific & Technical Instruments, CIEN in Communication Equipment. Over the past 10 years, COHR returned 35.09%/yr vs 36.28%/yr for CIEN. At a 0.36 correlation, their price movements are largely independent.
Performance
COHR vs. CIEN - Performance Comparison
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Returns By Period
In the year-to-date period, COHR achieves a 117.77% return, which is significantly higher than CIEN's 99.54% return. Both investments have delivered pretty close results over the past 10 years, with COHR having a 35.09% annualized return and CIEN not far ahead at 36.28%.
COHR
- 1D
- 6.62%
- 1M
- 19.89%
- YTD
- 117.77%
- 6M
- 116.25%
- 1Y
- 404.05%
- 3Y*
- 117.79%
- 5Y*
- 41.61%
- 10Y*
- 35.09%
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%
COHR vs. CIEN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COHR Coherent, Inc. | 117.77% | 94.84% | 117.62% | 24.02% | -48.63% | -10.04% | 125.60% | 3.73% | -30.86% | 58.35% |
CIEN Ciena Corporation | 99.54% | 175.76% | 88.42% | -11.71% | -33.77% | 45.64% | 23.80% | 25.89% | 62.02% | -14.26% |
Correlation
The correlation between COHR and CIEN is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 1997 | 0.36 |
Over the past year, COHR and CIEN have become more correlated (0.68) than their long-term average of 0.36, meaning their price movements have been converging.
Fundamentals
COHR:
$1.64K
CIEN:
$3.01
COHR:
0.24
CIEN:
154.94
COHR:
0.03
CIEN:
12.19
COHR:
$1.81T
CIEN:
$5.57B
COHR:
$1.76B
CIEN:
$2.40B
COHR:
$960.76M
CIEN:
$670.55M
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Return for Risk
COHR vs. CIEN — Risk / Return Rank
COHR
CIEN
COHR vs. CIEN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Coherent, Inc. (COHR) and Ciena Corporation (CIEN). 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.
| COHR | CIEN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.76 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 15.36 | 21.37 | -6.01 |
| Martin ratioReturn relative to average drawdown | 42.88 | 100.03 | -57.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| COHR | CIEN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.62 | 8.23 | -2.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 1.05 | -0.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 0.82 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.07 | +0.26 |
Drawdowns
COHR vs. CIEN - Drawdown Comparison
The maximum COHR drawdown since its inception was -80.89%, smaller than the maximum CIEN drawdown of -99.51%. Use the drawdown chart below to compare losses from any high point for COHR and CIEN.
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Drawdown Indicators
| COHR | CIEN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.89% | -99.51% | +18.62% |
Max Drawdown (1Y)Largest decline over 1 year | -26.52% | -25.57% | -0.95% |
Max Drawdown (3Y)Largest decline over 3 years | -54.85% | -45.51% | -9.34% |
Max Drawdown (5Y)Largest decline over 5 years | -62.87% | -49.54% | -13.33% |
Max Drawdown (10Y)Largest decline over 10 years | -72.22% | -49.54% | -22.68% |
Current DrawdownCurrent decline from peak | -5.85% | -55.41% | +49.56% |
Average DrawdownAverage peak-to-trough decline | -35.03% | -87.11% | +52.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.48% | 5.45% | +4.03% |
Volatility
COHR vs. CIEN - Volatility Comparison
Coherent, Inc. (COHR) has a higher volatility of 28.41% compared to Ciena Corporation (CIEN) at 25.17%. This indicates that COHR's price experiences larger fluctuations and is considered to be riskier than CIEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COHR | CIEN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 28.41% | 25.17% | +3.24% |
Volatility (6M)Calculated over the trailing 6-month period | 55.90% | 55.99% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.65% | 66.51% | +6.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.36% | 48.49% | +12.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.43% | 44.33% | +12.10% |
Dividends
COHR vs. CIEN - Dividend Comparison
Neither COHR nor CIEN has paid dividends to shareholders.
Financials
COHR vs. CIEN - Financials Comparison
This section allows you to compare key financial metrics between Coherent, Inc. and Ciena Corporation. 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
COHR vs. CIEN - Profitability Comparison
COHR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Coherent, Inc. reported a gross profit of 0.00 and revenue of 1.81T. Therefore, the gross margin over that period was 0.0%.
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%.
COHR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Coherent, Inc. reported an operating income of 0.00 and revenue of 1.81T, resulting in an operating margin of 0.0%.
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%.
COHR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Coherent, Inc. reported a net income of 191.40B and revenue of 1.81T, resulting in a net margin of 10.6%.
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%.
Frequently Asked Questions
COHR and CIEN have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COHR has higher volatility (28.41%) compared to CIEN (25.17%). In terms of maximum drawdown, COHR dropped -80.89% vs CIEN's -99.51%.
CIEN currently has the higher Sharpe Ratio (8.23 vs 5.62), 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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