CRNT vs. TKC

Last updated Jun 3, 2026

CRNT (Ceragon Networks Ltd.) and TKC (Turkcell Iletisim Hizmetleri A.S.) are both stocks. CRNT operates in Communication Equipment (Technology), while TKC operates in Telecom Services (Communication Services). Over the past 10 years, CRNT returned 6.18%/yr vs 0.25%/yr for TKC. At a 0.17 correlation, their price movements are largely independent.

Performance

CRNT vs. TKC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ceragon Networks Ltd. (CRNT) and Turkcell Iletisim Hizmetleri A.S. (TKC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CRNT achieves a 50.95% return, which is significantly higher than TKC's 8.96% return. Over the past 10 years, CRNT has outperformed TKC with an annualized return of 6.18%, while TKC has yielded a comparatively lower 0.25% annualized return.

CRNT

• 1D: 11.62%
• 1M: 26.80%
• YTD: 50.95%
• 6M: 63.40%
• 1Y: 35.47%
• 3Y*: 19.24%
• 5Y*: -2.24%
• 10Y*: 6.18%

TKC

• 1D: 4.38%
• 1M: -6.14%
• YTD: 8.96%
• 6M: 5.60%
• 1Y: 4.65%
• 3Y*: 15.97%
• 5Y*: 8.86%
• 10Y*: 0.25%

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

CRNT vs. TKC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CRNT Ceragon Networks Ltd.	50.95%	-55.03%	116.20%	13.09%	-25.97%	-7.19%	32.38%	-44.44%	90.91%	-24.43%
TKC Turkcell Iletisim Hizmetleri A.S.	8.96%	-12.66%	39.58%	2.46%	38.18%	-28.03%	-4.86%	7.00%	-39.75%	66.84%

Correlation

The correlation between CRNT and TKC is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since Aug 7, 2000	0.17

Fundamentals

Market Cap CRNT : $287.55M TKC : $5.19B
EPS CRNT : -$0.03 TKC : $11.39
PS Ratio CRNT : 0.86 TKC : 0.04
PB Ratio CRNT : 1.68 TKC : 0.02
Total Revenue (TTM) CRNT : $335.08M TKC : $115.78B
Gross Profit (TTM) CRNT : $115.25M TKC : $32.74B
EBITDA (TTM) CRNT : $21.22M TKC : $54.96B

Return for Risk

CRNT vs. TKC — Risk / Return Rank

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

CRNT

CRNT Risk / Return Rank: 61
CRNT Sharpe Ratio Rank: 63
CRNT Sortino Ratio Rank: 60
CRNT Omega Ratio Rank: 57
CRNT Calmar Ratio Rank: 64
CRNT Martin Ratio Rank: 62

TKC

TKC Risk / Return Rank: 42
TKC Sharpe Ratio Rank: 46
TKC Sortino Ratio Rank: 39
TKC Omega Ratio Rank: 38
TKC Calmar Ratio Rank: 42
TKC Martin Ratio Rank: 43

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.

CRNT vs. TKC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ceragon Networks Ltd. (CRNT) and Turkcell Iletisim Hizmetleri A.S. (TKC). 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.

	CRNT	TKC	Difference
Sharpe ratio Return per unit of total volatility	0.70	0.16	+0.55
Sortino ratio Return per unit of downside risk	1.31	0.43	+0.87
Omega ratio Gain probability vs. loss probability	1.15	1.05	+0.10
Calmar ratio Return relative to maximum drawdown	1.23	0.09	+1.14
Martin ratio Return relative to average drawdown	2.29	0.20	+2.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CRNT vs. TKC - Sharpe Ratio Comparison

The current CRNT Sharpe Ratio is 0.70, which is higher than the TKC Sharpe Ratio of 0.16. The chart below compares the historical Sharpe Ratios of CRNT and TKC, 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

	CRNT	TKC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.70	0.16	+0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.04	0.23	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.10	0.01	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	-0.12	-0.04	-0.08

Drawdowns

CRNT vs. TKC - Drawdown Comparison

The maximum CRNT drawdown since its inception was -97.24%, roughly equal to the maximum TKC drawdown of -92.94%. Use the drawdown chart below to compare losses from any high point for CRNT and TKC.

Drawdown Indicators

	CRNT	TKC	Difference
Max Drawdown Largest peak-to-trough decline	-97.24%	-92.94%	-4.30%
Max Drawdown (1Y) Largest decline over 1 year	-32.26%	-20.70%	-11.56%
Max Drawdown (3Y) Largest decline over 3 years	-66.42%	-30.32%	-36.10%
Max Drawdown (5Y) Largest decline over 5 years	-66.42%	-50.59%	-15.83%
Max Drawdown (10Y) Largest decline over 10 years	-79.75%	-72.96%	-6.79%
Current Drawdown Current decline from peak	-90.09%	-58.65%	-31.44%
Average Drawdown Average peak-to-trough decline	-85.13%	-56.67%	-28.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.31%	9.37%	+7.94%

Volatility

CRNT vs. TKC - Volatility Comparison

Ceragon Networks Ltd. (CRNT) has a higher volatility of 19.31% compared to Turkcell Iletisim Hizmetleri A.S. (TKC) at 10.74%. This indicates that CRNT's price experiences larger fluctuations and is considered to be riskier than TKC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRNT	TKC	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.31%	10.74%	+8.57%
Volatility (6M) Calculated over the trailing 6-month period	33.14%	20.19%	+12.95%
Volatility (1Y) Calculated over the trailing 1-year period	50.76%	29.74%	+21.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.19%	38.14%	+13.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.62%	37.34%	+24.28%

Dividends

CRNT vs. TKC - Dividend Comparison

CRNT has not paid dividends to shareholders, while TKC's dividend yield for the trailing twelve months is around 3.70%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRNT Ceragon Networks Ltd.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TKC Turkcell Iletisim Hizmetleri A.S.	3.70%	4.03%	3.14%	1.98%	1.72%	9.59%	2.19%	3.48%	8.57%	10.52%	0.00%	16.91%

Financials

CRNT vs. TKC - Profitability Comparison

The chart below illustrates the profitability comparison between Ceragon Networks Ltd. and Turkcell Iletisim Hizmetleri A.S. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CRNT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Ceragon Networks Ltd. reported a gross profit of 30.08M and revenue of 85.00M. Therefore, the gross margin over that period was 35.4%.

TKC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Turkcell Iletisim Hizmetleri A.S. reported a gross profit of 419.05M and revenue of 1.56B. Therefore, the gross margin over that period was 26.8%.

CRNT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Ceragon Networks Ltd. reported an operating income of 2.09M and revenue of 85.00M, resulting in an operating margin of 2.5%.

TKC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Turkcell Iletisim Hizmetleri A.S. reported an operating income of 238.78M and revenue of 1.56B, resulting in an operating margin of 15.3%.

CRNT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Ceragon Networks Ltd. reported a net income of -1.34M and revenue of 85.00M, resulting in a net margin of -1.6%.

TKC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Turkcell Iletisim Hizmetleri A.S. reported a net income of 106.00M and revenue of 1.56B, resulting in a net margin of 6.8%.

Frequently Asked Questions

Can I hold both CRNT and TKC in my portfolio?

CRNT and TKC have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CRNT or TKC?

CRNT has higher volatility (19.31%) compared to TKC (10.74%). In terms of maximum drawdown, CRNT dropped -97.24% vs TKC's -92.94%.

Which has better risk-adjusted returns?

CRNT currently has the higher Sharpe Ratio (0.70 vs 0.16), 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.