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Relative Intelligence · Electronic Components

How Coherent (COHR) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on COHR alone. It places COHR (Coherent, Inc.) against 17 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where COHR stands in the market, and of the alternatives worth a closer look.

Period covered: COHR's full trading record, from October 1987 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against COHR →Chart COHR vs. 17 alternatives →
On this page12 sections

Key findings

How much would $10,000 in COHR have grown?

This chart tracks a hypothetical $10,000 investment in COHR over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of COHR over the same span and COHR's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Choose a period

From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 36 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of COHR; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$1,000$10,000$100,000$1M199720022007201220172022$1,000$10,000$100,000$1M19972004201120182025
  • APH$3M+29,926% total · +21.7% a year
  • LRCX$2M+24,786% total · +21.0% a year
  • AAON$2M+19,509% total · +20.0% a year
  • EME$2M+16,257% total · +19.2% a year
  • KLAC$1M+10,976% total · +17.6% a year
  • COHR$922,472+9,125% total · +16.9% a year
  • AMAT$594,575+5,846% total · +15.1% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • CIEN$20,293+103% total · +2.5% a year
  • VIAV$18,542+85.4% total · +2.2% a year
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From the end of September 2021 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 134 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of COHR; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$5,000$10,000$20,000$50,000$100,000$200,000202120222023202420252026$10,000$100,000202120222023202420252026
  • AAOI$138,242+1,282% total · +69.1% a year
  • LITE$116,261+1,063% total · +63.3% a year
  • NVDA$110,811+1,008% total · +61.8% a year
  • ANET$94,783+848% total · +56.8% a year
  • AVGO$79,117+691% total · +51.2% a year
  • CIEN$68,511+585% total · +46.9% a year
  • COHR$48,485+385% total · +37.1% a year
  • AMAT$41,406+314% total · +32.9% a year
  • VIAV$26,634+166% total · +21.6% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
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COHR at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

The company

Market value
$46B
Industry
Hardware, Equipment & Parts
Price history from
October 1987

Returns

Past 1 year
+92.8%total return
Past 3 years
+648%+95.5% a year
Past 5 years
+295%+31.6% a year
Past 10 years
+795%+24.5% a year
Best calendar year
+156%1999
Worst calendar year
−67.2%1998
Losing years
11 of 29full calendar years

Risk

Volatility
66.3%typical yearly swing, 5 years
Sharpe ratio
0.75return per unit of risk, 5 years
Worst decline ever
−80.9%Feb 1997 to Oct 1998
From its all-time high
−45.7%below the peak

COHR against the whole market

Where COHR ranks among every stock and fund, and what across the market has done better.

How does COHR rank among all stocks?

This section ranks COHR on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history. Where the comparisons with its popular alternatives show how COHR stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.

MeasureCOHRRankStanding
1-year return+92.8%205 of 3,287top 6%
3-year return+648%63 of 3,017top 2%
5-year return+295%177 of 2,893top 6%
10-year return+795%158 of 2,202top 7%
Volatility, 5 years66.3%2,441 of 2,893bottom 17%
Sharpe ratio, 5 years0.75362 of 2,893top 13%
Worst decline, past 10 years−72.2%1,358 of 2,187bottom 39%

What has beaten COHR on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). COHR sits where the dashed lines cross. Anything in the green box above and to the left earned more than COHR with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to COHR; faint dots are 87 more of the 127 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

10.0%20.0%30.0%40.0%50.0%60.0%70.0%0.0%20.0%40.0%60.0%80.0%100%120%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than COHRIBKR: +35.4% a year, volatility 35.4%PWR: +39.3% a year, volatility 37.2%VST: +53.4% a year, volatility 48.6%EME: +43.0% a year, volatility 35.3%COKE: +41.2% a year, volatility 38.0%FRO: +52.6% a year, volatility 49.7%MPC: +51.2% a year, volatility 33.4%SMH: +33.4% a year, volatility 36.9%JBL: +35.8% a year, volatility 39.6%TSEM: +42.5% a year, volatility 52.2%DHT: +38.7% a year, volatility 39.0%LPG: +54.6% a year, volatility 43.6%UFPT: +35.8% a year, volatility 46.0%ATI: +61.8% a year, volatility 42.9%PLPC: +40.5% a year, volatility 48.3%CAH: +42.1% a year, volatility 24.7%FIX: +77.0% a year, volatility 46.7%CLMB: +37.8% a year, volatility 45.5%VLO: +44.2% a year, volatility 36.9%WDC: +53.7% a year, volatility 53.5%TRGP: +41.8% a year, volatility 31.7%HSBC: +33.1% a year, volatility 25.9%MUFG: +33.2% a year, volatility 29.4%MCK: +38.7% a year, volatility 25.0%INSW: +56.5% a year, volatility 40.5%P: +37.3% a year, volatility 55.0%MFG: +33.6% a year, volatility 30.6%GFI: +35.5% a year, volatility 53.4%PSX: +33.2% a year, volatility 32.9%SMFG: +33.7% a year, volatility 29.4%AMD: +35.7% a year, volatility 57.6%THC: +32.9% a year, volatility 45.1%HPE: +32.9% a year, volatility 42.2%ESLT: +39.8% a year, volatility 34.6%AU: +40.4% a year, volatility 49.9%BWLP: +60.3% a year, volatility 50.9%SBS: +39.1% a year, volatility 37.1%LNTH: +34.0% a year, volatility 56.6%ANF: +33.7% a year, volatility 62.9%NVT: +35.4% a year, volatility 38.0%CLMT: +39.4% a year, volatility 56.5%STRL: +78.4% a year, volatility 60.0%TPC: +42.5% a year, volatility 56.0%MLI: +38.9% a year, volatility 33.4%MOG-A: +36.6% a year, volatility 32.0%ARIS: +33.4% a year, volatility 53.9%IESC: +58.5% a year, volatility 58.0%PBR-A: +51.8% a year, volatility 37.5%IDCC: +39.0% a year, volatility 36.9%JXN: +41.7% a year, volatility 43.3%LAUR: +37.5% a year, volatility 32.8%SNEX: +33.0% a year, volatility 37.3%HWM: +47.3% a year, volatility 32.5%AGX: +53.5% a year, volatility 54.1%TRMD: +54.3% a year, volatility 45.9%MIRM: +40.0% a year, volatility 51.8%TNK: +50.5% a year, volatility 45.1%GFF: +36.4% a year, volatility 41.7%USLM: +35.6% a year, volatility 36.1%TTMI: +48.0% a year, volatility 54.3%SANM: +34.7% a year, volatility 47.8%CRS: +63.9% a year, volatility 46.5%ODC: +35.9% a year, volatility 36.9%GE: +36.0% a year, volatility 31.0%MAMA: +41.1% a year, volatility 57.7%PBR: +50.3% a year, volatility 37.5%BBVA: +38.7% a year, volatility 33.3%BELFB: +78.0% a year, volatility 52.1%SU: +33.1% a year, volatility 32.5%IMO: +34.3% a year, volatility 32.0%FTI: +54.1% a year, volatility 41.3%RVMD: +48.8% a year, volatility 62.1%YPF: +60.7% a year, volatility 54.1%CIB: +32.9% a year, volatility 32.9%KGC: +32.7% a year, volatility 45.6%ROIV: +42.2% a year, volatility 58.8%FTAI: +52.1% a year, volatility 57.2%PR: +33.1% a year, volatility 47.1%EMBJ: +32.8% a year, volatility 45.0%VIST: +59.1% a year, volatility 50.7%MOD: +65.1% a year, volatility 61.7%IAG: +43.9% a year, volatility 60.9%PBF: +42.9% a year, volatility 59.1%HMY: +36.0% a year, volatility 59.3%KNSA: +50.2% a year, volatility 53.7%EAT: +34.6% a year, volatility 48.8%AROC: +33.1% a year, volatility 36.4%COHR: +31.6% a year, volatility 66.3%SPY (S&P 500): +12.7% a year, volatility 17.1%NVDA: +58.0% a year, volatility 51.9%AVGO: +48.3% a year, volatility 44.5%ANET: +49.0% a year, volatility 49.0%CIEN: +45.2% a year, volatility 52.6%LITE: +57.3% a year, volatility 64.5%GLW: +31.4% a year, volatility 42.1%MU: +68.1% a year, volatility 57.1%APH: +33.8% a year, volatility 32.2%LRCX: +37.4% a year, volatility 49.9%ASX: +48.8% a year, volatility 43.0%KLAC: +38.7% a year, volatility 46.7%TSM: +31.5% a year, volatility 38.5%LLY: +40.7% a year, volatility 32.8%DELL: +55.2% a year, volatility 54.4%STX: +57.4% a year, volatility 48.7%FEIM: +52.0% a year, volatility 65.4%CAT: +31.1% a year, volatility 31.9%PGR: +21.3% a year, volatility 25.6%CLS: +101% a year, volatility 59.7%COHRSPY (S&P 500)NVDAAVGOANETCIENLITEGLWMUAPHLRCXASXKLACTSMLLYSTXFEIMCATPGRCLS0.0%20.0%40.0%60.0%80.0%0.0%20.0%40.0%60.0%80.0%100%120%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than COHRIBKR: +35.4% a year, volatility 35.4%PWR: +39.3% a year, volatility 37.2%VST: +53.4% a year, volatility 48.6%EME: +43.0% a year, volatility 35.3%COKE: +41.2% a year, volatility 38.0%FRO: +52.6% a year, volatility 49.7%MPC: +51.2% a year, volatility 33.4%SMH: +33.4% a year, volatility 36.9%JBL: +35.8% a year, volatility 39.6%TSEM: +42.5% a year, volatility 52.2%DHT: +38.7% a year, volatility 39.0%LPG: +54.6% a year, volatility 43.6%UFPT: +35.8% a year, volatility 46.0%ATI: +61.8% a year, volatility 42.9%PLPC: +40.5% a year, volatility 48.3%CAH: +42.1% a year, volatility 24.7%FIX: +77.0% a year, volatility 46.7%CLMB: +37.8% a year, volatility 45.5%VLO: +44.2% a year, volatility 36.9%WDC: +53.7% a year, volatility 53.5%TRGP: +41.8% a year, volatility 31.7%HSBC: +33.1% a year, volatility 25.9%MUFG: +33.2% a year, volatility 29.4%MCK: +38.7% a year, volatility 25.0%INSW: +56.5% a year, volatility 40.5%P: +37.3% a year, volatility 55.0%MFG: +33.6% a year, volatility 30.6%GFI: +35.5% a year, volatility 53.4%PSX: +33.2% a year, volatility 32.9%SMFG: +33.7% a year, volatility 29.4%AMD: +35.7% a year, volatility 57.6%THC: +32.9% a year, volatility 45.1%HPE: +32.9% a year, volatility 42.2%ESLT: +39.8% a year, volatility 34.6%AU: +40.4% a year, volatility 49.9%BWLP: +60.3% a year, volatility 50.9%SBS: +39.1% a year, volatility 37.1%LNTH: +34.0% a year, volatility 56.6%ANF: +33.7% a year, volatility 62.9%NVT: +35.4% a year, volatility 38.0%CLMT: +39.4% a year, volatility 56.5%STRL: +78.4% a year, volatility 60.0%TPC: +42.5% a year, volatility 56.0%MLI: +38.9% a year, volatility 33.4%MOG-A: +36.6% a year, volatility 32.0%ARIS: +33.4% a year, volatility 53.9%IESC: +58.5% a year, volatility 58.0%PBR-A: +51.8% a year, volatility 37.5%IDCC: +39.0% a year, volatility 36.9%JXN: +41.7% a year, volatility 43.3%LAUR: +37.5% a year, volatility 32.8%SNEX: +33.0% a year, volatility 37.3%HWM: +47.3% a year, volatility 32.5%AGX: +53.5% a year, volatility 54.1%TRMD: +54.3% a year, volatility 45.9%MIRM: +40.0% a year, volatility 51.8%TNK: +50.5% a year, volatility 45.1%GFF: +36.4% a year, volatility 41.7%USLM: +35.6% a year, volatility 36.1%TTMI: +48.0% a year, volatility 54.3%SANM: +34.7% a year, volatility 47.8%CRS: +63.9% a year, volatility 46.5%ODC: +35.9% a year, volatility 36.9%GE: +36.0% a year, volatility 31.0%MAMA: +41.1% a year, volatility 57.7%PBR: +50.3% a year, volatility 37.5%BBVA: +38.7% a year, volatility 33.3%BELFB: +78.0% a year, volatility 52.1%SU: +33.1% a year, volatility 32.5%IMO: +34.3% a year, volatility 32.0%FTI: +54.1% a year, volatility 41.3%RVMD: +48.8% a year, volatility 62.1%YPF: +60.7% a year, volatility 54.1%CIB: +32.9% a year, volatility 32.9%KGC: +32.7% a year, volatility 45.6%ROIV: +42.2% a year, volatility 58.8%FTAI: +52.1% a year, volatility 57.2%PR: +33.1% a year, volatility 47.1%EMBJ: +32.8% a year, volatility 45.0%VIST: +59.1% a year, volatility 50.7%MOD: +65.1% a year, volatility 61.7%IAG: +43.9% a year, volatility 60.9%PBF: +42.9% a year, volatility 59.1%HMY: +36.0% a year, volatility 59.3%KNSA: +50.2% a year, volatility 53.7%EAT: +34.6% a year, volatility 48.8%AROC: +33.1% a year, volatility 36.4%COHR: +31.6% a year, volatility 66.3%SPY (S&P 500): +12.7% a year, volatility 17.1%NVDA: +58.0% a year, volatility 51.9%AVGO: +48.3% a year, volatility 44.5%ANET: +49.0% a year, volatility 49.0%CIEN: +45.2% a year, volatility 52.6%LITE: +57.3% a year, volatility 64.5%GLW: +31.4% a year, volatility 42.1%MU: +68.1% a year, volatility 57.1%APH: +33.8% a year, volatility 32.2%LRCX: +37.4% a year, volatility 49.9%ASX: +48.8% a year, volatility 43.0%KLAC: +38.7% a year, volatility 46.7%TSM: +31.5% a year, volatility 38.5%LLY: +40.7% a year, volatility 32.8%DELL: +55.2% a year, volatility 54.4%STX: +57.4% a year, volatility 48.7%FEIM: +52.0% a year, volatility 65.4%CAT: +31.1% a year, volatility 31.9%PGR: +21.3% a year, volatility 25.6%CLS: +101% a year, volatility 59.7%COHRSPY (S&P 500)NVDAAVGOCIENLITEGLWMUAPHLRCXASXLLYDELLFEIMCATPGRCLS
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than COHR?

Investments that beat COHR over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat COHR over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes. It checks COHR's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than COHR follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than COHR's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× COHR's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than COHR's.

Screen the whole market against COHR for any period in BetterThanSPYOpen these 19 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with COHR?lower diversifies moreExpenseper year
COHRCoherent, Inc. · this page
+31.6%66.3%0.75−72.2%+795%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.620.09%
Popular alternativesbest 6 shownThe investments people most often weigh against COHR. 7 of 17 passed at least one test.
NVDANVIDIA Corporation · Semiconductors
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+58.0%51.9%1.14−66.3%+13,019%0.47—
AVGOBroadcom Inc. · Semiconductors
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+48.3%44.5%1.11−48.3%+2,380%0.46—
ANETArista Networks, Inc. · Communications Equipment
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+49.0%49.0%1.06−52.2%+3,439%0.30—
CIENCiena Corporation · Communications Equipment
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+45.2%52.6%0.97−49.5%+1,600%0.48—
LITELumentum Holdings Inc. · Communications Equipment
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+57.3%64.5%1.03−66.9%+1,904%0.60—
GLWCorning Inc · Electronic Components
Similar return, lower volatilityHigher Sharpe, smaller worst decline+31.4%42.1%0.86−51.5%+616%0.61—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Electronic Components and the categories next to it (Electronics Manufacturing, Semiconductors, Communications Equipment), plus COHR's specific themes. 15 of 60 passed at least one test.
MUMicron Technology, Inc. · Semiconductors
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+68.1%57.1%1.20−57.6%+5,243%0.50—
APHAmphenol Corporation · Electronic Components
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+33.8%32.2%1.07−37.5%+965%0.59—
LRCXLam Research Corporation · Semiconductor Equipment
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+37.4%49.9%0.89−56.4%+2,989%0.61—
ASXASE Technology Holding Co., Ltd. · Semiconductors
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+48.8%43.0%1.15−52.5%+967%0.63—
KLACKLA Corporation · Semiconductor Equipment
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+38.7%46.7%0.94−46.3%+2,534%0.54—
TSMTaiwan Semiconductor Manufacturing Company Limited · Semiconductors
Similar return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+31.5%38.5%0.91−56.6%+1,505%0.69—
The whole marketbest 6 shownEvery other stock and fund worth at least $500 million. 148 of 3,556 passed at least one test.
LLYEli Lilly and Company · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+40.7%32.8%1.21−34.5%+1,807%0.15—
DELLDell Technologies Inc. · Computer Hardware
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+55.2%54.4%1.08−59.6%+3,701%0.34—
STXSeagate Technology Holdings plc · Computer Hardware
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+57.4%48.7%1.18−57.0%+2,698%0.60—
FEIMFrequency Electronics, Inc. · Communication Equipment
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+52.0%65.4%0.95−62.4%+719%0.19—
CATCaterpillar Inc. · Industrial Machinery
Similar return, lower volatilityHigher Sharpe, smaller worst decline+31.1%31.9%1.01−43.4%+936%0.65—
PGRThe Progressive Corporation · Property & Casualty Insurance
Smaller losses in recent crashes+21.3%25.6%0.89−30.3%+816%0.02—
What these numbers mean for COHR
Annual return
COHR returned 31.6% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $39,500. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
COHR's volatility over the past 5 years was 66.3%, 3.9 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, COHR's return lands within 66.3% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
COHR's Sharpe ratio over the past 5 years was 0.75, against 0.79 for the S&P 500, so COHR earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
COHR's worst fall from a peak to a low over the past 10 years was 72.2%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 72.2% fall takes a 260% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, COHR's monthly returns had a correlation of 0.62 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against COHR instead: the lower it is, the more that option would diversify a COHR holding. Guide: Correlation and diversification →
Show all 127 stocks and funds worth at least $500 million that earned more than COHR with less volatility

Out of 3,633 tested over 5 years. The strongest 100 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with COHRExpense
1
LLYEli Lilly and Company · Pharmaceuticals
Whole market+40.7%32.8%1.21−34.5%+1,807%0.15—
2
DELLDell Technologies Inc. · Computer Hardware
Whole market+55.2%54.4%1.08−59.6%+3,701%0.34—
3
STXSeagate Technology Holdings plc · Computer Hardware
Whole market+57.4%48.7%1.18−57.0%+2,698%0.60—
4
IBKRInteractive Brokers Group, Inc. · Investment Banking & Brokerage
Whole market+35.4%35.4%1.04−55.1%+935%0.40—
5
PWRQuanta Services, Inc. · Engineering & Construction
Whole market+39.3%37.2%1.08−45.5%+2,045%0.58—
6
VSTVistra Corp. · Independent Power Producers
Whole market+53.4%48.6%1.13−53.3%+1,195%0.33—
7
MUMicron Technology, Inc. · Semiconductors
Same or nearby category+68.1%57.1%1.20−57.6%+5,243%0.50—
8
EMEEMCOR Group, Inc. · Engineering & Construction
Whole market+43.0%35.3%1.20−48.0%+1,202%0.39—
9
NVDANVIDIA Corporation · Semiconductors
Popular alternative+58.0%51.9%1.14−66.3%+13,019%0.47—
10
COKECoca-Cola Consolidated, Inc. · Food & Beverages
Whole market+41.2%38.0%1.10−51.7%+1,569%0.23—
11
AVGOBroadcom Inc. · Semiconductors
Popular alternative+48.3%44.5%1.11−48.3%+2,380%0.46—
12
APHAmphenol Corporation · Electronic Components
Same or nearby category+33.8%32.2%1.07−37.5%+965%0.59—
13
LRCXLam Research Corporation · Semiconductor Equipment
Same or nearby category+37.4%49.9%0.89−56.4%+2,989%0.61—
14
FROFrontline Plc · Oil & Gas
Whole market+52.6%49.7%1.10−52.0%+1,194%0.07—
15
ASXASE Technology Holding Co., Ltd. · Semiconductors
Same or nearby category+48.8%43.0%1.15−52.5%+967%0.63—
16
MPCMarathon Petroleum Corporation · Oil & Gas
Whole market+51.2%33.4%1.41−79.7%+1,387%-0.01—
17
ANETArista Networks, Inc. · Communications Equipment
Popular alternative+49.0%49.0%1.06−52.2%+3,439%0.30—
18
SMHVanEck Semiconductor ETF · Semiconductors
Same or nearby category+33.4%36.9%0.97−45.3%+1,665%0.710.35%
19
JBLJabil Inc. · Electronics Manufacturing
Same or nearby category+35.8%39.6%0.97−57.3%+1,264%0.54—
20
TSEMTower Semiconductor Ltd. · Semiconductors
Same or nearby category+42.5%52.2%0.93−62.3%+1,058%0.44—
21
DHTDHT Holdings, Inc. · Marine Shipping
Whole market+38.7%39.0%1.04−39.7%+1,050%0.02—
22
CIENCiena Corporation · Communications Equipment
Popular alternative+45.2%52.6%0.97−49.5%+1,600%0.48—
23
LPGDorian LPG Ltd. · Oil & Gas Midstream
Whole market+54.6%43.6%1.22−62.9%+1,821%0.01—
24
UFPTUFP Technologies, Inc. · Medical - Devices
Whole market+35.8%46.0%0.90−48.3%+1,006%0.30—
25
ATIATI Inc. · Metals & Mining
Whole market+61.8%42.9%1.34−82.4%+929%0.42—
26
PLPCPreformed Line Products Company · Electrical Equipment & Parts
Whole market+40.5%48.3%0.94−59.5%+827%0.13—
27
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.30—
28
FIXComfort Systems USA, Inc. · Engineering & Construction
Whole market+77.0%46.7%1.46−49.7%+5,305%0.52—
29
CLMBClimb Global Solutions, Inc. · Technology Distributors
Whole market+37.8%45.5%0.94−53.4%+847%0.17—
30
CLSCelestica Inc. · Electronics Manufacturing
Same or nearby category+101%59.7%1.47−80.6%+2,771%0.44—
31
KLACKLA Corporation · Semiconductor Equipment
Same or nearby category+38.7%46.7%0.94−46.3%+2,534%0.54—
32
VLOValero Energy Corporation · Oil & Gas
Whole market+44.2%36.9%1.18−71.9%+1,061%0.08—
33
WDCWestern Digital Corporation · Computer Hardware
Whole market+53.7%53.5%1.07−70.5%+911%0.62—
34
TRGPTarga Resources Corp. · Oil & Gas Midstream
Whole market+41.8%31.7%1.27−90.8%+829%0.29—
35
HSBCHSBC Holdings plc · Banks
Whole market+33.1%25.9%1.24−62.3%+319%0.25—
36
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Whole market+33.2%29.4%1.13−54.9%+483%0.21—
37
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.05—
38
INSWInternational Seaways, Inc. · Oil & Gas
Whole market+56.5%40.5%1.31−57.4%—-0.02—
39
PEverpure, Inc. · Computer Hardware
Whole market+37.3%55.0%0.85−69.4%+899%0.33—
40
MFGMizuho Financial Group, Inc. · Banks
Whole market+33.6%30.6%1.10−45.7%+345%0.21—
41
GFIGold Fields Limited · Gold Mining
Whole market+35.5%53.4%0.84−56.2%+1,008%-0.03—
42
PSXPhillips 66 · Oil & Gas
Whole market+33.2%32.9%1.04−64.2%+430%-0.03—
43
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Whole market+33.7%29.4%1.14−47.6%+474%0.21—
44
AMDAdvanced Micro Devices, Inc. · Semiconductors
Same or nearby category+35.7%57.6%0.82−65.5%+7,583%0.54—
45
THCTenet Healthcare Corporation · Health Care Facilities
Whole market+32.9%45.1%0.86−71.7%+1,058%0.23—
46
HPEHewlett Packard Enterprise Company · Computer Hardware
Whole market+32.9%42.2%0.89−56.9%+483%0.38—
47
ESLTElbit Systems Ltd. · Aerospace & Defense
Whole market+39.8%34.6%1.15−35.4%+765%0.08—
48
AUAngloGold Ashanti Plc · Gold Mining
Whole market+40.4%49.9%0.93−66.3%+681%0.09—
49
BWLPBW LPG Limited · Marine Shipping
Whole market+60.3%50.9%1.19−68.8%+2,672%0.01—
50
SBSCompanhia de Saneamento Básico do Estado de São Paulo - SABESP · Water Utilities
Whole market+39.1%37.1%1.08−62.0%+293%0.22—
51
LNTHLantheus Holdings, Inc. · Pharmaceuticals
Whole market+34.0%56.6%0.80−68.5%+985%0.16—
52
ANFAbercrombie & Fitch Co. · Specialty Retail
Whole market+33.7%62.9%0.77−72.4%+1,117%0.24—
53
NVTnVent Electric plc · Electrical Equipment
Whole market+35.4%38.0%0.99−56.2%—0.54—
54
CLMTCalumet Inc. · Oil & Gas
Whole market+39.4%56.5%0.87−90.4%+1,319%0.12—
55
STRLSterling Infrastructure, Inc. · Engineering & Construction
Whole market+78.4%60.0%1.26−59.6%+5,213%0.46—
56
TPCTutor Perini Corporation · Engineering & Construction
Whole market+42.5%56.0%0.91−91.0%+309%0.37—
57
MLIMueller Industries, Inc. · Metal Fabrication
Whole market+38.9%33.4%1.16−53.0%+800%0.32—
58
MOG-AMoog Inc. · Aerospace & Defense
Whole market+36.6%32.0%1.14−63.7%+595%0.47—
59
ARISAris Mining Corporation · Gold
Whole market+33.4%53.9%0.81−68.0%+1,286%0.22—
60
IESCIES Holdings, Inc. · Engineering & Construction
Whole market+58.5%58.0%1.09−54.3%+2,943%0.45—
61
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+51.8%37.5%1.31−71.7%+768%0.13—
62
IDCCInterDigital, Inc. · Intellectual Property Licensing
Whole market+39.0%36.9%1.08−64.9%+395%0.43—
63
JXNJackson Financial Inc. · Life Insurance
Whole market+41.7%43.3%1.03−48.4%—0.18—
64
LAURLaureate Education, Inc. · Education Services
Whole market+37.5%32.8%1.14−64.5%—-0.09—
65
SNEXStoneX Group Inc. · Capital Markets
Whole market+33.0%37.3%0.96−48.7%+670%0.18—
66
HWMHowmet Aerospace Inc. · Aerospace & Defense
Whole market+47.3%32.5%1.36−68.9%+1,028%0.39—
67
AGXArgan, Inc. · Engineering & Construction
Whole market+53.5%54.1%1.06−56.7%+700%0.40—
68
TRMDTORM plc · Marine Shipping
Whole market+54.3%45.9%1.18−60.6%—-0.10—
69
MIRMMirum Pharmaceuticals, Inc. · Biotechnology
Whole market+40.0%51.8%0.91−63.8%—0.17—
70
TNKTeekay Tankers Ltd. · Marine Shipping
Whole market+50.5%45.1%1.14−63.4%+490%-0.07—
71
GFFGriffon Corporation · Building Products
Whole market+36.4%41.7%0.95−61.3%+761%0.44—
72
USLMUnited States Lime & Minerals, Inc. · Construction Materials
Whole market+35.6%36.1%1.03−45.9%+803%0.08—
73
TTMITTM Technologies, Inc. · Electronic Components
Same or nearby category+48.0%54.3%0.99−57.6%+707%0.61—
74
SANMSanmina Corporation · Electronics Manufacturing
Same or nearby category+34.7%47.8%0.86−55.9%+499%0.56—
75
CRSCarpenter Technology Corporation · Metals & Mining
Whole market+63.9%46.5%1.30−74.7%+1,021%0.36—
76
ODCOil-Dri Corporation of America · Chemicals - Specialty
Whole market+35.9%36.9%1.02−48.9%+460%0.23—
77
GEGE Aerospace · Aerospace & Defense
Whole market+36.0%31.0%1.15−80.9%+139%0.39—
78
MAMAMama's Creations, Inc. · Packaged Foods
Whole market+41.1%57.7%0.89−64.8%—0.22—
79
PBRPetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+50.3%37.5%1.28−75.3%+674%0.10—
80
BBVABanco Bilbao Vizcaya Argentaria, S.A. · Banks
Whole market+38.7%33.3%1.16−69.6%+542%0.17—
81
BELFBBel Fuse Inc. · Hardware, Equipment & Parts
Whole market+78.0%52.1%1.37−79.8%+872%0.40—
82
SUSuncor Energy Inc. · Integrated Oil & Gas
Whole market+33.1%32.5%1.05−73.5%+295%-0.04—
83
IMOImperial Oil Limited · Integrated Oil & Gas
Whole market+34.3%32.0%1.09−77.1%+430%0.10—
84
FTITechnipFMC plc · Oilfield Services
Whole market+54.1%41.3%1.26−85.8%+178%0.26—
85
RVMDRevolution Medicines, Inc. · Biotechnology
Whole market+48.8%62.1%0.95−73.3%—0.42—
86
YPFYPF Sociedad Anónima · Integrated Oil & Gas
Whole market+60.7%54.1%1.14−90.1%+173%0.21—
87
CIBGrupo Cibest S.A. · Banks
Whole market+32.9%32.9%1.03−70.4%+345%0.14—
88
KGCKinross Gold Corporation · Gold Mining
Whole market+32.7%45.6%0.85−67.9%+572%0.04—
89
ROIVRoivant Sciences Ltd. · Biotechnology
Whole market+42.2%58.8%0.89−79.2%—0.29—
90
FTAIFTAI Aviation Ltd. · Aerospace & Defense
Whole market+52.1%57.2%1.02−72.8%+2,614%0.40—
91
PRPermian Resources Corporation · Exploration & Production
Whole market+33.1%47.1%0.85−98.9%+99.2%0.09—
92
EMBJEmbraer S.A. · Aerospace & Defense
Whole market+32.8%45.0%0.86−85.2%+283%0.22—
93
VISTVista Energy, S.A.B. de C.V. · Exploration & Production
Whole market+59.1%50.7%1.17−81.2%—0.08—
94
MODModine Manufacturing Company · Electrical Equipment
Whole market+65.1%61.7%1.13−88.1%+1,187%0.49—
95
IAGIamgold Corporation · Gold Mining
Whole market+43.9%60.9%0.90−86.4%+343%0.19—
96
PBFPBF Energy Inc. · Oil & Gas
Whole market+42.9%59.1%0.90−91.5%+427%-0.13—
97
HMYHarmony Gold Mining Company Limited · Gold Mining
Whole market+36.0%59.3%0.82−71.1%+504%0.08—
98
KNSAKiniksa Pharmaceuticals International, plc · Biotechnology
Whole market+50.2%53.7%1.02−83.1%—0.02—
99
EATBrinker International, Inc. · Restaurants
Whole market+34.6%48.8%0.86−84.9%+337%0.16—
100
AROCArchrock, Inc. · Oilfield Services
Whole market+33.1%36.4%0.97−84.9%+288%0.36—

COHR against its popular alternatives

The investments people most often weigh against COHR, compared period by period and year by year.

How do COHR's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at COHR, which divides the map into what did better or worse on each measure.

Green points earned more than COHR with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

0.0%20.0%40.0%60.0%80.0%100%120%140%−20.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityCOHR: 31.6% a year, volatility 66.3%SPY (S&P 500): 12.7% a year, volatility 17.1%LITE: 57.3% a year, volatility 64.5%CIEN: 45.2% a year, volatility 52.6%ANET: 49.0% a year, volatility 49.0%NVDA: 58.0% a year, volatility 51.9%AVGO: 48.3% a year, volatility 44.5%MTSI: 32.0% a year, volatility 47.3%LPTH: 30.4% a year, volatility 86.4%LASR: 5.4% a year, volatility 68.8%POET: −8.3% a year, volatility 108%AAOI: 59.6% a year, volatility 123%AMAT: 25.8% a year, volatility 47.4%VIAV: 17.9% a year, volatility 47.9%GLW: 31.4% a year, volatility 42.1%AAON: 10.0% a year, volatility 47.5%FN: 29.2% a year, volatility 57.1%GILT: −1.9% a year, volatility 49.5%IPGP: −15.1% a year, volatility 48.5%COHRSPY (S&P 500)LITECIENANETNVDAAVGOMTSILPTHLASRPOETAAOIAMATVIAVGLWAAONFNGILTIPGP0.0%50.0%100%150%−20.0%0.0%20.0%40.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityCOHR: 31.6% a year, volatility 66.3%SPY (S&P 500): 12.7% a year, volatility 17.1%LITE: 57.3% a year, volatility 64.5%CIEN: 45.2% a year, volatility 52.6%ANET: 49.0% a year, volatility 49.0%NVDA: 58.0% a year, volatility 51.9%AVGO: 48.3% a year, volatility 44.5%MTSI: 32.0% a year, volatility 47.3%LPTH: 30.4% a year, volatility 86.4%LASR: 5.4% a year, volatility 68.8%POET: −8.3% a year, volatility 108%AAOI: 59.6% a year, volatility 123%AMAT: 25.8% a year, volatility 47.4%VIAV: 17.9% a year, volatility 47.9%GLW: 31.4% a year, volatility 42.1%AAON: 10.0% a year, volatility 47.5%FN: 29.2% a year, volatility 57.1%GILT: −1.9% a year, volatility 49.5%IPGP: −15.1% a year, volatility 48.5%COHRSPY (S&P 500)LITECIENANETNVDAAVGOMTSILPTHLASRPOETAAOIAMATVIAVGLWGILTIPGP
All figures
InvestmentAnnual returnVolatility
AAOI Applied Optoelectronics, Inc.+59.6%123%
NVDA NVIDIA Corporation+58.0%51.9%
LITE Lumentum Holdings Inc.+57.3%64.5%
ANET Arista Networks, Inc.+49.0%49.0%
AVGO Broadcom Inc.+48.3%44.5%
CIEN Ciena Corporation+45.2%52.6%
MTSI MACOM Technology Solutions Holdings, Inc.+32.0%47.3%
COHR This pageCoherent, Inc.+31.6%66.3%
GLW Corning Inc+31.4%42.1%
LPTH LightPath Technologies, Inc.+30.4%86.4%
FN Fabrinet+29.2%57.1%
AMAT Applied Materials, Inc.+25.8%47.4%
VIAV Viavi Solutions Inc.+17.9%47.9%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
AAON AAON, Inc.+10.0%47.5%
LASR nLIGHT, Inc.+5.4%68.8%
GILT Gilat Satellite Networks Ltd.−1.9%49.5%
POET POET Technologies Inc.−8.3%108%
IPGP IPG Photonics Corporation−15.1%48.5%
Open these 19 in EasyCompare

Has COHR consistently beaten its popular alternatives?

This section compares COHR with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than COHR helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than COHR over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
COHR Coherent, Inc. (this page)—−27.9%−18.8%−33.3%+19.3%+92.8%+648%+295%+795%66.3%0.75−72.2%—$46B—
LITE QualifiedLumentum Holdings Inc.5/5 short3/3 longAll-weather−13.8%+7.4%−8.1%+113%+411%+2,029%+863%+1,904%64.5%1.03−66.9%—$75B—
CIEN QualifiedCiena Corporation5/5 short3/3 longAll-weather−6.6%−9.7%−32.1%+39.0%+97.5%+721%+546%+1,600%52.6%0.97−49.5%—$48B—
ANET QualifiedArista Networks, Inc.4/5 short2/3 long−11.8%+7.0%+8.6%+35.6%+23.7%+289%+634%+3,439%49.0%1.06−52.2%—$229B—
NVDA QualifiedNVIDIA Corporation3/5 short2/3 long−4.8%+6.6%+7.4%+14.9%+18.8%+425%+884%+13,019%51.9%1.14−66.3%—$5.2T—
AVGO QualifiedBroadcom Inc.3/5 short2/3 long−7.8%−11.4%−16.0%−3.3%−3.5%+305%+617%+2,380%44.5%1.11−48.3%—$1.6T—
AAOI Communication EquipmentApplied Optoelectronics, Inc.2/5 short2/3 long−29.4%−25.5%−53.1%+93.8%+125%+1,011%+936%+270%123%0.97−98.5%—$6.5B—
AMAT SemiconductorsApplied Materials, Inc.3/5 short1/3 long−12.8%−22.9%+3.7%+51.2%+78.5%+209%+215%+1,488%47.4%0.72−55.1%—$321B—
VIAV Communication EquipmentViavi Solutions Inc.5/5 short0/3 long−4.1%−11.9%−22.2%+91.3%+164%+359%+127%+376%47.9%0.58−62.9%—$8.5B—
GLW Hardware, Equipment & PartsCorning Inc4/5 short0/3 long−16.7%−13.3%−19.7%+46.8%+56.6%+419%+292%+616%42.1%0.86−51.5%—$114B—
MTSI SemiconductorsMACOM Technology Solutions Holdings, Inc.4/5 short0/3 long−5.8%−2.5%−6.5%+50.3%+87.4%+249%+302%+588%47.3%0.83−80.8%—$20B—
AAON Industrial - MachineryAAON, Inc.2/5 short0/3 long−3.2%−28.8%−24.3%−6.4%−26.5%+40.8%+61.2%+308%47.5%0.44−50.2%—$6.1B—
FN Hardware, Equipment & PartsFabrinet1/5 short0/3 long−11.5%−28.1%−49.2%−25.9%−12.8%+121%+260%+732%57.1%0.74−52.4%—$13B—
LPTH Hardware, Equipment & PartsLightPath Technologies, Inc.1/5 short0/3 long−26.1%−27.2%−47.3%−35.7%−13.6%+396%+277%+393%86.4%0.73−86.3%—$528M—
GILT Communication EquipmentGilat Satellite Networks Ltd.1/5 short0/3 long−22.7%−28.2%−57.6%−42.0%−44.0%+28.6%−9.3%+111%49.5%0.21−80.9%—$578M—
IPGP SemiconductorsIPG Photonics Corporation1/5 short0/3 long−6.8%−26.0%−42.4%−3.1%−16.9%−21.8%−55.8%−12.8%48.5%-0.10−81.1%—$3.1B—
LASR SemiconductorsnLIGHT, Inc.1/5 short0/3 long−9.9%−47.0%−49.2%−5.6%+14.0%+303%+30.1%—68.8%0.41−85.7%—$2.1B—
POET SemiconductorsPOET Technologies Inc.0/5 short0/3 long−33.9%−25.6%−35.3%−22.3%−26.7%+89.8%−35.3%+29.3%108%0.44−93.5%—$734M—
Open these 18 in EasyCompare

How did COHR do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where COHR ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with COHR and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Newest year first. Green marks a year in which the fund came out ahead of COHR; gray means the two finished within a fraction of a point. The rank row places COHR among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of COHR20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
COHR This pageCoherent, Inc.—+94.8%+118%+24.0%−48.6%−10.1%+126%+3.7%−30.9%+58.4%+59.8%+36.0%−22.4%−3.6%+5.4%−20.8%+45.8%+66.5%−37.5%+9.3%+56.3%−15.8%+64.8%+60.6%−6.9%+13.4%+51.0%+156%−67.2%−8.4%
Rank among alternativesTop quarter in 9 of 297 of 184 of 1810 of 1812 of 1814 of 183 of 1813 of 1812 of 176 of 175 of 175 of 1613 of 1511 of 148 of 136 of 136 of 127 of 113 of 106 of 103 of 97 of 91 of 94 of 92 of 93 of 92 of 96 of 87 of 87 of 7
SPY S&P 500State Street SPDR S&P 500 ETF12 of 29+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%+20.4%+28.7%+33.5%
LITE Lumentum Holdings Inc.5 of 10+339%+60.2%+0.5%−50.7%+11.6%+19.6%+88.8%−14.1%+26.5%+75.5%———————————————————
CIEN Ciena Corporation13 of 28+176%+88.4%−11.7%−33.8%+45.6%+23.8%+25.9%+62.0%−14.3%+18.0%+6.6%−18.9%+52.4%+29.8%−42.5%+94.2%+61.8%−80.4%+23.1%+33.3%−11.1%−49.1%+27.6%−64.1%−82.4%+183%+293%−76.1%—
ANET Arista Networks, Inc.5 of 11+18.6%+87.7%+94.1%−15.6%+97.9%+42.9%−3.5%−10.5%+143%+24.2%+28.2%——————————————————
NVDA NVIDIA Corporation16 of 26+38.9%+171%+239%−50.2%+125%+122%+76.4%−30.8%+82.5%+228%+67.1%+27.4%+33.5%−11.0%−10.0%−17.6%+131%−76.3%+37.9%+102%+55.2%+1.6%+102%−82.8%+308%+39.6%———
AVGO Broadcom Inc.11 of 16+50.6%+110%+104%−13.3%+56.5%+45.0%+29.0%+2.2%+48.2%+23.6%+46.1%+93.4%+70.0%+12.0%+3.0%+55.4%—————————————
AAOI Applied Optoelectronics, Inc.3 of 12−5.4%+90.8%+922%−63.2%−39.6%−28.4%−23.0%−59.2%+61.4%+36.6%+52.9%−25.3%—————————————————
AMAT Applied Materials, Inc.13 of 29+59.6%+1.1%+68.0%−37.5%+83.6%+43.3%+89.9%−34.9%+59.8%+75.7%−23.5%+43.7%+58.6%+10.2%−21.9%+3.0%+40.4%−42.1%−2.6%+3.8%+5.4%−23.8%+72.3%−35.0%+5.0%−39.7%+197%+41.7%+67.9%
VIAV Viavi Solutions Inc.11 of 29+76.4%+0.3%−4.2%−40.4%+17.6%−0.1%+49.3%+15.0%+6.9%+34.3%−21.9%+5.5%−3.8%+29.3%−27.9%+75.7%+125%−72.5%−20.2%−11.7%−25.6%−12.9%+47.3%−71.5%−79.2%−48.3%+830%+67.6%+57.7%
GLW Corning Inc12 of 29+87.8%+60.7%−1.2%−11.6%+5.9%+27.6%−1.0%−3.3%+34.6%+36.3%−18.4%+31.2%+45.1%−0.2%−31.9%+1.1%+106%−59.8%+28.7%−4.8%+67.2%+12.7%+215%−62.8%−83.0%+23.3%+190%+23.6%−3.0%
MTSI MACOM Technology Solutions Holdings, Inc.6 of 13+31.8%+39.8%+47.6%−19.6%+42.3%+107%+83.3%−55.4%−29.7%+13.2%+30.7%+84.1%+13.5%————————————————
AAON AAON, Inc.15 of 29−34.9%+59.9%+47.9%−4.6%+19.8%+35.7%+41.9%−3.6%+11.9%+43.4%+4.6%+6.0%+132%+3.5%+10.1%+46.8%−5.1%+6.9%+14.8%+49.5%+10.9%−17.1%+5.5%+13.0%+107%+23.6%+54.4%+23.1%+55.1%
FN Fabrinet9 of 15+107%+15.5%+48.4%+8.2%+52.7%+19.7%+26.4%+78.8%−28.8%+69.2%+34.3%−13.7%+56.5%−4.0%−36.4%——————————————
LPTH LightPath Technologies, Inc.10 of 29+206%+180%+3.3%−50.0%−37.8%+441%−51.3%−32.9%+44.2%−45.6%+211%−33.1%+49.5%−14.9%−40.9%+7.1%+119%−60.7%−58.5%+174%−61.0%+55.8%+10.5%−91.0%−74.4%−25.8%+315%−21.7%+39.4%
GILT Gilat Satellite Networks Ltd.11 of 29+110%+0.7%+5.3%−18.0%+18.2%−12.1%−9.4%+18.4%+54.3%+44.7%−25.7%−0.5%−11.7%+34.3%−21.0%+8.5%+76.6%−74.6%+16.9%+53.3%−5.6%+24.4%−37.2%−92.9%−78.5%−78.5%+115%+92.6%+16.2%
IPGP IPG Photonics Corporation9 of 19−1.5%−33.0%+14.6%−45.0%−23.1%+54.4%+27.9%−47.1%+117%+10.7%+19.0%−3.5%+16.4%+98.8%+7.1%+89.0%+26.9%−34.1%−16.7%——————————
LASR nLIGHT, Inc.3 of 7+258%−22.3%+33.1%−57.7%−26.7%+61.0%+14.1%——————————————————————
POET POET Technologies Inc.9 of 17+6.4%+536%−69.0%−57.5%+9.2%+132%+40.0%+17.6%−29.2%−67.6%−39.3%+144%−15.3%+90.3%+6.9%+26.1%+91.7%————————————
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Risk and diversification

How COHR has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

What were COHR's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents COHR's five deepest drawdowns since it began trading in 1987, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Green means COHR fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringCOHR fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
No named crash−80.9%+39.8%Feb 1997Oct 199820 monthsFeb 200016 months
No named crash−80.6%—Jun 1989Aug 19934.2 yearsJan 199517 months
2022 bear market−72.2%+8.5%Feb 2021May 20232.3 yearsOct 202417 months
Dot-com bust−69.2%−14.6%Mar 2000Mar 200112 monthsAug 20043.4 years
2008 financial crisis−68.2%−47.2%Aug 2008Mar 20097 monthsDec 201021 months

How did COHR do in stock market crashes?

This section measures how far COHR, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than COHR.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
COHR This pageCoherent, Inc.—−10.7%−56.3%−43.0%−39.5%−9.8%−15.0%−40.4%−2.1%−68.2%−61.4%
SPY S&P 500State Street SPDR S&P 500 ETF10 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
LITE Lumentum Holdings Inc.4 of 6−6.5%−36.3%−28.7%−40.1%−5.0%−34.1%————
CIEN Ciena Corporation5 of 10−2.9%−48.4%−22.4%−11.8%−4.7%−31.7%−41.8%−5.1%−89.5%−98.4%
ANET Arista Networks, Inc.5 of 6−1.5%−36.6%−31.2%−31.2%−6.1%−36.6%————
NVDA NVIDIA Corporation4 of 10−5.0%−60.7%−37.5%−55.9%−8.5%−25.3%−23.8%−1.7%−85.1%−89.7%
AVGO Broadcom Inc.6 of 8−2.8%−34.3%−46.8%−15.2%−4.5%−21.6%−26.7%0.0%——
AAOI Applied Optoelectronics, Inc.2 of 6−5.7%−71.6%−54.5%−58.8%−8.1%−45.1%————
AMAT Applied Materials, Inc.5 of 10−3.6%−54.2%−43.6%−26.4%−9.7%−18.8%−24.5%−1.6%−61.7%−82.0%
VIAV Viavi Solutions Inc.5 of 10−3.0%−27.2%−37.5%−26.5%−3.0%−27.6%−41.5%−4.5%−86.0%−98.8%
GLW Corning Inc8 of 10−3.8%−30.9%−36.7%−21.7%−9.0%−13.5%−31.1%0.0%−71.6%−99.0%
MTSI MACOM Technology Solutions Holdings, Inc.3 of 6−4.8%−43.9%−48.1%−37.0%−41.5%−22.4%————
AAON AAON, Inc.8 of 10−4.5%−39.3%−31.0%−25.7%−7.1%−22.2%−36.4%−2.4%−43.5%−38.8%
FN Fabrinet7 of 7−4.7%−38.7%−25.0%−12.0%−3.8%−10.5%−30.8%———
LPTH LightPath Technologies, Inc.4 of 10−7.6%−63.2%−46.2%−32.0%−4.0%−29.4%−42.1%−1.5%−89.0%−99.5%
GILT Gilat Satellite Networks Ltd.6 of 10−4.2%−42.8%−51.0%−26.0%−8.4%−41.5%−39.4%−1.5%−80.3%−99.7%
IPGP IPG Photonics Corporation6 of 9−4.7%−52.4%−26.8%−37.6%−8.0%−23.9%−38.1%−2.1%−69.1%—
LASR nLIGHT, Inc.2 of 4−6.2%−64.1%−52.5%−36.7%——————
POET POET Technologies Inc.3 of 8−17.8%−73.9%−59.5%−38.7%0.0%−46.7%−56.5%0.0%——
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How closely does COHR move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares COHR with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than COHR's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
COHR This pageCoherent, Inc.162%146%1.111.80
CIEN Ciena Corporation129%64%2.021.07
ANET Arista Networks, Inc.174%91%1.921.40
AVGO Broadcom Inc.158%86%1.851.19
NVDA NVIDIA Corporation248%140%1.771.83
LITE Lumentum Holdings Inc.162%101%1.611.24
GLW Corning Inc107%67%1.611.14
FN Fabrinet115%72%1.601.12
AMAT Applied Materials, Inc.152%97%1.581.51
LPTH LightPath Technologies, Inc.97%72%1.341.36
VIAV Viavi Solutions Inc.98%76%1.300.97
AAON AAON, Inc.90%74%1.210.99
GILT Gilat Satellite Networks Ltd.54%45%1.180.71
MTSI MACOM Technology Solutions Holdings, Inc.148%157%0.941.93
AAOI Applied Optoelectronics, Inc.169%221%0.772.83
POET POET Technologies Inc.62%108%0.580.81
IPGP IPG Photonics Corporation65%130%0.501.15
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What diversifies COHR?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with COHR's. Because such investments tend not to fall at the same time, pairing COHR with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which COHR lost money. The last two columns show a portfolio that is 80% COHR and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe2022202120182014201320112008200520021998199780/20 mix volatility80/20 mix annual return
COHR Coherent, Inc. (this page)1.00+295%0.75−48.6%−10.1%−30.9%−22.4%−3.6%−20.8%−37.5%−15.8%−6.9%−67.2%−8.4%52.8%+37.1%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.32+119%1.48+3.8%+17.8%−5.2%————————42.8%+35.5%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.37+101%1.04+10.4%+23.1%−8.7%+23.8%+16.6%——————43.4%+35.0%
HDV Dividend & IncomeiShares Core High Dividend ETF0.24+83.3%1.00+7.1%+19.6%−3.0%+12.6%+23.8%——————43.0%+34.4%
GLD CommoditiesSPDR Gold Shares0.12+126%0.96−0.8%−4.2%−1.9%−2.2%−28.3%+9.6%+4.9%+17.8%———42.8%+36.1%
XLE EnergyState Street Energy Select Sector SPDR ETF0.02+177%0.93+64.4%+53.3%−18.2%−8.7%+26.3%+2.8%−39.0%+40.1%−14.8%——42.6%+37.7%
VTV Broad MarketVanguard Morningstar Value ETF0.49+76.6%0.90−2.1%+26.5%−5.5%+13.2%+33.1%+1.1%−35.9%+7.2%———43.7%+34.1%
EUFN InternationaliShares MSCI Europe Financials ETF0.29+133%0.89−8.8%+19.1%−23.1%−9.7%+29.3%−26.6%—————43.6%+36.4%
AMLP EnergyAlerian MLP ETF0.20+111%0.89+25.5%+39.1%−12.6%+4.8%+18.6%+10.2%—————43.1%+36.0%

Stocks

InvestmentCorrelation5Y returnSharpe2022202120182014201320112008200520021998199780/20 mix volatility80/20 mix annual return
COHR Coherent, Inc. (this page)1.00+295%0.75−48.6%−10.1%−30.9%−22.4%−3.6%−20.8%−37.5%−15.8%−6.9%−67.2%−8.4%52.8%+37.1%
CAH Medical - DistributionCardinal Health, Inc.0.30+479%1.55+54.1%−0.4%−24.5%+23.0%+66.0%+8.1%−39.6%+18.7%−8.3%+51.7%+29.1%44.1%+40.1%
CLS Hardware, Equipment & PartsCelestica Inc.0.44+3,143%1.47+1.3%+37.9%−16.3%+12.9%+27.6%−24.4%−20.5%−25.2%−65.1%——48.6%+53.1%
MCK Medical - DistributionMcKesson Corporation0.05+413%1.44+51.8%+44.2%−28.4%+29.3%+67.7%+11.8%−40.4%+64.9%−27.2%+46.9%+96.3%42.8%+40.2%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation-0.01+690%1.41+86.6%+61.0%−8.2%+0.4%+48.6%——————42.6%+43.6%
HWM Aerospace & DefenseHowmet Aerospace Inc.0.39+594%1.36+24.2%+11.7%−37.5%+50.9%+25.6%−42.9%−67.4%−1.8%−33.1%+7.0%+11.8%45.4%+42.2%
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Common questions

What was COHR's worst drawdown?

COHR's deepest decline since it began trading in 1987 was 80.9%, from February 1997 to October 1998. It took 16 months from the low to climb back to its old high.

What were COHR's best and worst years?

Over 29 full calendar years, COHR's best year was 1999, when it returned 156%. Its worst was 1998, with a return of -67.2%.

Is there a better investment than COHR?

Among COHR's popular alternatives, NVDA, AVGO and ANET earned more than COHR with less volatility over the past 5 years. NVDA returned 58.0% a year at 51.9% volatility, against 31.6% a year at 66.3%. Looking beyond its popular alternatives, MU (semiconductors) and APH (electronic components) earned more than COHR with less volatility over the past 5 years. MU returned 68.1% a year at 57.1% volatility, against 31.6% a year at 66.3%.

Is COHR more volatile than the S&P 500?

Yes. COHR's volatility over the past 5 years was 66.3%, 3.9 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, COHR's return lands within 66.3% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is COHR's Sharpe ratio?

COHR's Sharpe ratio over the past 5 years was 0.75, against 0.79 for the S&P 500, so COHR earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is COHR with the S&P 500?

Over the past 5 years, COHR's monthly returns had a correlation of 0.62 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against COHR instead: the lower it is, the more that option would diversify a COHR holding.

What are the best alternatives to COHR?

Of the 17 popular alternatives we compared, five outperformed COHR in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: LITE, CIEN and ANET.

Did COHR outperform the S&P 500?

COHR finished ahead of the S&P 500 (SPY) in 16 of 29 full calendar years. In 2025, it returned +94.8%, against +17.7% for the index.

How did COHR do in stock market crashes?

COHR fell less than the S&P 500 (SPY) in none of the ten major crashes it has traded through, and further in ten. The clearest case was the 2022 bear market, when COHR fell 56.3% and the S&P 500 fell 24.5%.

What diversifies COHR?

These had a low correlation with COHR over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.32), EMLP (correlation 0.37) and HDV (correlation 0.24); among large stocks, CAH (correlation 0.30), CLS (correlation 0.44) and MCK (correlation 0.05). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to COHR

Other stocks and ETFs