Ciena Corp Stock Market Value
| CIEN Stock | USD 68.17 1.69 2.54% |
| Symbol | Ciena |
Ciena Corp Price To Book Ratio
Is Communications Equipment space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Ciena Corp. If investors know Ciena will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Ciena Corp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.50) | Earnings Share 0.94 | Revenue Per Share 27.627 | Quarterly Revenue Growth (0.12) | Return On Assets 0.0252 |
The market value of Ciena Corp is measured differently than its book value, which is the value of Ciena that is recorded on the company's balance sheet. Investors also form their own opinion of Ciena Corp's value that differs from its market value or its book value, called intrinsic value, which is Ciena Corp's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Ciena Corp's market value can be influenced by many factors that don't directly affect Ciena Corp's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Ciena Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine if Ciena Corp is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Ciena Corp's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Ciena Corp 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Ciena Corp's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Ciena Corp.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Ciena Corp on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Ciena Corp or generate 0.0% return on investment in Ciena Corp over 30 days. Ciena Corp is related to or competes with Hewlett Packard, Juniper Networks, Cisco Systems, Viavi Solutions, Infinera, Applied Opt, and Lumentum Holdings. Ciena Corporation provides network hardware, software, and services that support the transport, routing, switching, aggr... More
Ciena Corp Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Ciena Corp's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Ciena Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.01 | |||
| Information Ratio | 0.1085 | |||
| Maximum Drawdown | 12.09 | |||
| Value At Risk | (3.63) | |||
| Potential Upside | 4.13 |
Ciena Corp Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ciena Corp's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ciena Corp's standard deviation. In reality, there are many statistical measures that can use Ciena Corp historical prices to predict the future Ciena Corp's volatility.| Risk Adjusted Performance | 0.1261 | |||
| Jensen Alpha | 0.1748 | |||
| Total Risk Alpha | 0.0496 | |||
| Sortino Ratio | 0.1232 | |||
| Treynor Ratio | 0.2006 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Ciena Corp's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Ciena Corp Backtested Returns
Ciena Corp appears to be very steady, given 3 months investment horizon. Ciena Corp secures Sharpe Ratio (or Efficiency) of 0.14, which signifies that the company had a 0.14% return per unit of standard deviation over the last 3 months. We have found thirty technical indicators for Ciena Corp, which you can use to evaluate the volatility of the firm. Please makes use of Ciena Corp's mean deviation of 1.74, and Risk Adjusted Performance of 0.1261 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Ciena Corp holds a performance score of 10. The firm shows a Beta (market volatility) of 1.73, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Ciena Corp will likely underperform. Please check Ciena Corp's potential upside, rate of daily change, and the relationship between the sortino ratio and skewness , to make a quick decision on whether Ciena Corp's price patterns will revert.
Auto-correlation | -0.02 |
Very weak reverse predictability
Ciena Corp has very weak reverse predictability. Overlapping area represents the amount of predictability between Ciena Corp time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Ciena Corp price movement. The serial correlation of -0.02 indicates that only 2.0% of current Ciena Corp price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.02 | |
| Spearman Rank Test | -0.31 | |
| Residual Average | 0.0 | |
| Price Variance | 4.13 |
Ciena Corp lagged returns against current returns
Autocorrelation, which is Ciena Corp stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Ciena Corp's stock expected returns. We can calculate the autocorrelation of Ciena Corp returns to help us make a trade decision. For example, suppose you find that Ciena Corp has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Ciena Corp regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Ciena Corp stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ciena Corp stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ciena Corp stock over time.
Current vs Lagged Prices |
| Timeline |
Ciena Corp Lagged Returns
When evaluating Ciena Corp's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ciena Corp stock have on its future price. Ciena Corp autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Ciena Corp autocorrelation shows the relationship between Ciena Corp stock current value and its past values and can show if there is a momentum factor associated with investing in Ciena Corp.
Regressed Prices |
| Timeline |
Pair Trading with Ciena Corp
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Ciena Corp position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Ciena Corp will appreciate offsetting losses from the drop in the long position's value.Moving together with Ciena Stock
Moving against Ciena Stock
| 0.82 | ASYS | Amtech Systems Fiscal Year End 12th of December 2024 | PairCorr |
| 0.72 | ICG | Intchains Group | PairCorr |
| 0.62 | ACLS | Axcelis Technologies | PairCorr |
| 0.53 | TER | Teradyne | PairCorr |
| 0.48 | SIMO | Silicon Motion Technology | PairCorr |
The ability to find closely correlated positions to Ciena Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ciena Corp when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Ciena Corp - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Ciena Corp to buy it.
The correlation of Ciena Corp is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. 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. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Ciena Corp can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Ciena Corp Correlation, Ciena Corp Volatility and Ciena Corp Alpha and Beta module to complement your research on Ciena Corp. To learn how to invest in Ciena Stock, please use our How to Invest in Ciena Corp guide.You can also try the Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
Ciena Corp technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.