| CIEN Stock | | | USD 70.18 0.05 0.07% |
The current 90-days correlation between Ciena Corp and Fabrinet is 0.5 (i.e., Very 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 0.58 (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.
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