Ciena Corp Correlations

Stocks . USA . 
Stock . Ciena Corp
CIEN Stock  USD 170.95  0.17  0.1%   
The current 90-days correlation between Ciena Corp and Juniper Networks is -0.03 (i.e., Good 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

Weak diversification

The correlation between Ciena Corp and DJI is 0.38 (i.e., 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.
  
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Moving together with Ciena Stock

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  0.71VSAT ViaSat IncPairCorr
  0.65TSAT Telesat CorpPairCorr
  0.69ITI ITI LimitedPairCorr
  0.87601869 Yangtze Optical FibrePairCorr
  0.84ERIC Telefonaktiebolaget Aggressive PushPairCorr
  0.86002861 Hubei Yingtong TelecPairCorr
  0.7FFIV F5 NetworksPairCorr
  0.69FKWL Franklin Wireless CorpPairCorr
  0.61300098 Gosuncn TechnologyPairCorr
  0.86NOK Nokia Corp ADR Earnings Call This WeekPairCorr
  0.93OCC Optical CablePairCorr
  0.62300514 Shenzhen FriendcomPairCorr
  0.96GILT Gilat Satellite NetworksPairCorr
  0.78300250 Hangzhou CNCR ITPairCorr

Moving against Ciena Stock

  0.92000851 Gohigh Data NetworksPairCorr
  0.45002935 Chengdu Spaceon ElecPairCorr
  0.44GTLINFRA GTL InfrastructurePairCorr
  0.44688618 3onedataPairCorr
  0.31002188 Bus OnlinePairCorr
  0.84300081 Hengxin Mobile BusinessPairCorr
  0.73FTC FiltronicPairCorr
  0.59300366 Sichuan Troy InformationPairCorr
  0.46ITRN Ituran LocationPairCorr
  0.38EXICOM Exicom Tele SystemsPairCorr

Related Correlations Analysis


Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

NTAP
+ 0.95
LITE
GLW
+ 0.93
LITE
NTAP
+ 0.84
GLW
NTAP
+ 0.8
EXTR
LU
+ 0.77
GLW
EXTR
+ 0.76
LITE
  

High negative correlations

CLFD
- 0.8
EXTR
NTAP
- 0.54
CLFD
CLFD
- 0.53
LITE
GLW
- 0.51
CLFD
CLFD
- 0.4
JNPR
LU
- 0.15
CLFD

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.

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