FN vs. CIEN
FN (Fabrinet) and CIEN (Ciena Corporation) are both stocks. Both are in the Technology sector — FN in Electronic Components, CIEN in Communication Equipment. Over the past 10 years, FN returned 32.67%/yr vs 35.80%/yr for CIEN. At a 0.49 correlation, their price movements are largely independent.
Performance
FN vs. CIEN - Performance Comparison
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Returns By Period
In the year-to-date period, FN achieves a 34.21% return, which is significantly lower than CIEN's 90.70% return. Over the past 10 years, FN has underperformed CIEN with an annualized return of 32.67%, while CIEN has yielded a comparatively higher 35.80% annualized return.
FN
- 1D
- 4.94%
- 1M
- -15.38%
- YTD
- 34.21%
- 6M
- 29.76%
- 1Y
- 149.30%
- 3Y*
- 67.62%
- 5Y*
- 45.38%
- 10Y*
- 32.67%
CIEN
- 1D
- 0.17%
- 1M
- -19.56%
- YTD
- 90.70%
- 6M
- 104.17%
- 1Y
- 518.04%
- 3Y*
- 119.10%
- 5Y*
- 49.92%
- 10Y*
- 35.80%
FN vs. CIEN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FN Fabrinet | 34.21% | 107.06% | 15.53% | 48.44% | 8.23% | 52.69% | 19.66% | 26.37% | 78.78% | -28.78% |
CIEN Ciena Corporation | 90.70% | 175.76% | 88.42% | -11.71% | -33.77% | 45.64% | 23.80% | 25.89% | 62.02% | -14.26% |
Correlation
The correlation between FN and CIEN is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2010 | 0.49 |
The correlation between FN and CIEN shifts across timeframes, from 0.49 (all time) to 0.65 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
FN:
$22.13B
CIEN:
$65.25B
FN:
$11.65
CIEN:
$3.01
FN:
52.46
CIEN:
148.07
FN:
5.21
CIEN:
11.65
FN:
9.60
CIEN:
22.56
FN:
$4.24B
CIEN:
$5.57B
FN:
$509.75M
CIEN:
$2.40B
FN:
$422.55M
CIEN:
$670.55M
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Return for Risk
FN vs. CIEN — Risk / Return Rank
FN
CIEN
FN vs. CIEN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fabrinet (FN) 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.
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.
| FN | CIEN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.51 | ||
| Sortino ratioReturn per unit of downside risk | -2.48 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.72 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | 6.22 | 16.49 | -10.27 |
| Martin ratioReturn relative to average drawdown | 15.46 | 76.44 | -60.98 |
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Drawdowns
FN vs. CIEN - Drawdown Comparison
The maximum FN drawdown since its inception was -70.46%, smaller than the maximum CIEN drawdown of -99.51%. Use the drawdown chart below to compare losses from any high point for FN and CIEN.
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Drawdown Indicators
| FN | CIEN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.46% | -99.51% | +29.05% |
Max Drawdown (1Y)Largest decline over 1 year | -22.27% | -30.68% | +8.41% |
Max Drawdown (3Y)Largest decline over 3 years | -37.47% | -45.51% | +8.04% |
Max Drawdown (5Y)Largest decline over 5 years | -38.70% | -49.54% | +10.84% |
Max Drawdown (10Y)Largest decline over 10 years | -51.11% | -49.54% | -1.57% |
Current DrawdownCurrent decline from peak | -18.15% | -57.38% | +39.23% |
Average DrawdownAverage peak-to-trough decline | -22.58% | -87.08% | +64.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.95% | 6.61% | +2.34% |
Volatility
FN vs. CIEN - Volatility Comparison
Fabrinet (FN) and Ciena Corporation (CIEN) have volatilities of 24.63% and 24.81%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FN | CIEN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.63% | 24.81% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 56.18% | 56.12% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.07% | 66.74% | +0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.67% | 48.55% | +5.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.29% | 44.35% | +3.94% |
Dividends
FN vs. CIEN - Dividend Comparison
Neither FN nor CIEN has paid dividends to shareholders.
Financials
FN vs. CIEN - Financials Comparison
This section allows you to compare key financial metrics between Fabrinet 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
FN vs. CIEN - Profitability Comparison
FN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Fabrinet reported a gross profit of 144.34M and revenue of 1.21B. Therefore, the gross margin over that period was 11.9%.
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%.
FN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Fabrinet reported an operating income of 120.04M and revenue of 1.21B, resulting in an operating margin of 9.9%.
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%.
FN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Fabrinet reported a net income of 128.18M and revenue of 1.21B, 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
FN and CIEN have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CIEN has higher volatility (24.81%) compared to FN (24.63%). In terms of maximum drawdown, FN dropped -70.46% vs CIEN's -99.51%.
CIEN currently has the higher Sharpe Ratio (7.58 vs 2.07), 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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