Ciena Corp Correlations

CIEN Stock

USD 69.72 0.55 0.80%

The current 90-days correlation between Ciena Corp and Motorola Solutions is 0.35 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ciena Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ciena Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Ciena Corp Correlation With Market

Very weak diversification

The correlation between Ciena Corp and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ciena Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ciena Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

To learn how to invest in Ciena Stock, please use our How to Invest in Ciena Corp guide.

Moving together with Ciena Stock

0.68	FN	Fabrinet	Pair Corr
0.88	FLEX	Flex	Pair Corr
0.91	GLW	Corning Incorporated	Pair Corr
0.83	HPQ	HP Inc	Pair Corr
0.95	JBL	Jabil Circuit	Pair Corr
0.93	ZBRA	Zebra Technologies	Pair Corr
0.82	IDCC	InterDigital	Pair Corr
0.72	IONQ	IONQ Inc Upward Rally	Pair Corr
0.8	MYNA	Mynaric AG ADR	Pair Corr
0.79	NTGR	NETGEAR	Pair Corr
0.72	OUST	Ouster Inc	Pair Corr

Moving against Ciena Stock

0.76	WBX	Wallbox NV	Pair Corr
0.51	CDW	CDW Corp	Pair Corr
0.48	INVZW	Innoviz Technologies	Pair Corr
0.47	VRME	VerifyMe	Pair Corr
0.45	IVAC	Intevac	Pair Corr
0.4	EVLV	Evolv Technologies Trending	Pair Corr
0.31	UKOMW	Ucommune International	Pair Corr
0.82	SHMD	SCHMID Group NV	Pair Corr
0.81	NTIP	Network 1 Technologies	Pair Corr
0.53	TRSG	Tungray Technologies	Pair Corr
0.44	SMCI	Super Micro Computer Downward Rally	Pair Corr
0.32	CALX	Calix Inc Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	EXTR	HPE	NTGR	MSI	LITE	ADTN	GILT	VIAV	INFN	AAOI
EXTR		0.72	0.72	0.68	0.77	0.77	0.68	0.77	0.18	0.65	EXTR
HPE	0.72		0.72	0.82	0.87	0.78	0.83	0.87	0.47	0.68	HPE
NTGR	0.72	0.72		0.84	0.85	0.84	0.81	0.86	0.55	0.78	NTGR
MSI	0.68	0.82	0.84		0.95	0.92	0.73	0.88	0.34	0.9	MSI
LITE	0.77	0.87	0.85	0.95		0.96	0.79	0.9	0.34	0.92	LITE
ADTN	0.77	0.78	0.84	0.92	0.96		0.76	0.88	0.26	0.94	ADTN
GILT	0.68	0.83	0.81	0.73	0.79	0.76		0.88	0.58	0.65	GILT
VIAV	0.77	0.87	0.86	0.88	0.9	0.88	0.88		0.43	0.75	VIAV
INFN	0.18	0.47	0.55	0.34	0.34	0.26	0.58	0.43		0.18	INFN
AAOI	0.65	0.68	0.78	0.9	0.92	0.94	0.65	0.75	0.18		AAOI
	EXTR	HPE	NTGR	MSI	LITE	ADTN	GILT	VIAV	INFN	AAOI

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Risk-Adjusted Indicators

There is a big difference between Ciena Stock performing well and Ciena Corp Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Ciena Corp's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EXTR	1.91	(0.10)	0.02	0.08	2.17	(2.13)	3.95	(3.30)	18.17
HPE	1.75	(0.01)	0.02	0.12	2.73	(1.69)	3.74	(4.18)	12.66
NTGR	2.29	0.55	0.29	0.57	1.53	(2.99)	5.28	(3.74)	34.93
MSI	0.81	0.14	0.10	0.38	0.62	(0.95)	1.71	(1.33)	9.87
LITE	2.50	0.35	0.22	0.25	2.34	(3.18)	5.71	(4.32)	18.19
ADTN	2.31	0.53	0.29	0.45	1.57	(2.86)	6.31	(3.34)	22.03
GILT	1.76	0.20	0.07	0.34	2.47	(2.14)	5.07	(2.66)	19.05
VIAV	1.37	0.03	0.06	0.15	1.68	(1.43)	3.02	(2.84)	9.98
INFN	0.67	0.10	0.00	0.57	0.41	(1.14)	1.98	(1.04)	5.32
AAOI	5.77	2.29	0.57	0.97	3.47	(7.50)	13.18	(5.85)	59.88

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