Coherent Corp. (COHR): Returns, Risk & Drawdowns

Reviewed by Sid Kalla CFA Charterholder

Quick Answer

What is Coherent Corp.'s risk, return, and volatility like?

Coherent Corp. returned +469.1% over the 1Y window. On the 5Y lens, Sharpe ratio is 0.72, annualized volatility is 60.2%, and max drawdown is -64.5%.

Total Return

1Y +469.1%

5Y +333.8%

Sharpe Ratio

1Y 2.86

5Y 0.72

Annualized Volatility

1Y 67.8%

5Y 60.2%

Max Drawdown

1Y -26.5%

5Y -64.5%

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Price history

Coherent Corp. price over the past 5Y

Track Coherent Corp.'s standalone price path with macro and asset-specific events enabled by default.

Coherent Corp. price over the past 5Y

COHR

Latest close $337.68 Data through 2026-04-23

5Y low $27.66 Window low

5Y high $350.47 Window high

Key takeaways

Total Return: COHR returned +469.1% over the 1Y window and +333.8% over the 5Y window ; annualized return over 5Y was +34.2%.
Risk-adjusted return: Sharpe was 0.72 and Sortino was 1.06 over 5Y. Sharpe counts total volatility; Sortino focuses on downside volatility.
Volatility & drawdown: Annualized volatility was 67.8% over 1Y and 60.2% over 5Y ; max drawdown was -26.5% over 1Y and -64.5% over 5Y .
Tail risk (Expected Shortfall): Over 5Y, daily VaR (5%) was -5.4% and Expected Shortfall was -8.7%. VaR is the cutoff; Expected Shortfall is the average move inside the worst 5% of daily returns.
Skew & kurtosis: Over 5Y, skew was -0.75 and excess kurtosis was 10.14. Skew shows return asymmetry; excess kurtosis shows how fat the tails were versus a Normal distribution.
Risk ratios: Sortino Ratio: 1.06 , Calmar Ratio: 0.53 , Sterling Ratio: 1.17 , Treynor Ratio: 0.22 , Ulcer Index: 32.26% .

Coherent Corp. Drawdown

COHR 1Y Max Drawdown

↓ -26.5%

2026-03-02 to 2026-03-30

COHR 5Y Max Drawdown

↓ -64.5%

2021-04-26 to 2023-05-16

Max drawdown shows the deepest peak-to-trough decline Coherent Corp. suffered in each research window. 1Y: -26.5%; 5Y: -64.5%.

Coherent Corp. is currently -3.6% below its prior peak, with the high-water mark at $350.47. 5Y low is $27.66.

COHR underwater plot (5Y). Zero means at a prior peak; dips show how far below peak the close was on each day. Deepest trough: -64.5% on May 16, 2023.

5Y drawdown episodes

-64.5% Apr 26, 2021 to May 16, 2023

Recovered Jul 12, 2024 1173 total days

-54.9% Dec 4, 2024 to Apr 4, 2025

Recovered Aug 7, 2025 246 total days

-30.1% Jul 16, 2024 to Aug 5, 2024

Recovered Sep 18, 2024 64 total days

Coherent Corp. Volatility

COHR 1Y Volatility

67.8%

Annualized daily closes

COHR 5Y Volatility

60.2%

Annualized daily closes

Volatility Coherent Corp.'s annualized volatility shows how widely daily closes moved over 1Y and 5Y. Higher values mean a noisier path, not automatically a better or worse investment. 1Y: 67.8%; 5Y: 60.2%.

Benchmark context

Where COHR fits relative to other lenses

Benchmark links are secondary on this page. Use them when you want to place the asset against a specific market, factor, or historical counterpart.

Default benchmark

S&P 500

SPY

Broad equity benchmark

1Y return

↑ +30.7%

COHR minus SPY

↑ +401.0%

Correlation

0.49

COHR vs SPY average correlation

Moderately linked

0.49

QQQ

Nasdaq 100

Corr 0.55

Growth and tech benchmark

1Y return +39.9%

COHR minus QQQ +391.8%

BTC

Bitcoin

Corr 0.31

Cross-asset crypto benchmark

1Y return -17.1%

COHR minus BTC +448.8%

XAU

Gold

Corr 0.11

Store-of-value benchmark

1Y return +40.2%

COHR minus XAU +391.5%

Risk-adjusted ratios

These ratios compare return against different definitions of risk: total volatility, downside volatility, drawdowns, benchmark beta, and time spent underwater.

Coherent Corp. Sharpe Ratio

COHR 1Y Sharpe ratio

↑ 2.86

Recent window

COHR 5Y Sharpe ratio

↑ 0.72

Deeper research window

COHR Sharpe Ratio (5Y)

Return per total volatility

The dot sits at (Coherent Corp.'s annualized volatility, its excess annualized return). The slope from the origin to the dot is the Sharpe ratio — steeper means the asset converted risk into return more efficiently.

Higher is better

excess annualized return / total volatility

Formula

\displaystyle \mathrm{Sharpe} = \frac{\mathbb{E}[R] - R_f}{\sigma_R}

Sharpe ratio Coherent Corp.'s Sharpe ratio measures excess return per unit of total volatility. Higher readings mean the asset converted risk into return more efficiently over the same window. 1Y: 2.86; 5Y: 0.72.

A Sharpe above 1.0 is generally considered good, above 2.0 is excellent. Negative Sharpe means the asset underperformed the risk-free rate. Calculated on each asset's full 365-day lookback of available prices and annualized using the asset calendar (365 for crypto, 252 trading days for equities/ETFs/metals).

Coherent Corp. Sortino Ratio

COHR 1Y Sortino ratio

↑ 4.50

Recent window

COHR 5Y Sortino ratio

↑ 1.06

Deeper research window

COHR Sortino Ratio (5Y)

Return per downside volatility

Coherent Corp.'s daily-return distribution over the long window. Days left of the target line are the only ones Sortino penalizes in the denominator — so a distribution with a fat left tail produces a smaller Sortino even at the same mean return.

Higher is better

excess annualized return / downside volatility

Formula

\displaystyle \mathrm{Sortino} = \frac{\mathbb{E}[R] - R_f}{\sigma_{\mathrm{down}}}

Sortino ratio Coherent Corp.'s Sortino ratio isolates downside volatility instead of all volatility. It is the cleaner lens when you care more about bad downside moves than upside noise. 1Y: 4.50; 5Y: 1.06.

A higher Sortino is better. It's useful when upside volatility is common (crypto is the obvious example). Calculated on each asset's full 365-day lookback of available prices, using the daily risk-free rate as the target return, and annualized using the asset calendar (365 for crypto, 252 trading days for equities/ETFs/metals).

Coherent Corp. Calmar Ratio

COHR 1Y Calmar ratio

↑ 17.72

Recent window

COHR 5Y Calmar ratio

↑ 0.53

Deeper research window

COHR Calmar Ratio (5Y)

CAGR per worst drawdown

Coherent Corp.'s CAGR bar sits above zero, the max drawdown bar sits below. Calmar is the ratio of those two magnitudes — a shallow drawdown bar with a tall CAGR bar produces a strong Calmar.

Higher is better

CAGR / max drawdown

Formula

\displaystyle \mathrm{Calmar} = \frac{\mathrm{CAGR}}{|\mathrm{MaxDD}|}

Calmar ratio Coherent Corp.'s Calmar ratio measures return per unit of max drawdown. It is useful when the path of losses matters as much as the final return. 1Y: 17.72; 5Y: 0.53.

Calmar is computed on each asset's full 365-day lookback and uses the max drawdown over that same window.

Coherent Corp. Sterling Ratio

COHR 1Y Sterling ratio

↑ 26.22

Recent window

COHR 5Y Sterling ratio

↑ 1.17

Deeper research window

COHR Sterling Ratio (5Y)

Return per average drawdown

The underwater curve shows Coherent Corp.'s drawdowns over the long window. Sterling averages every event deeper than the 10% threshold instead of taking only the worst one — so an asset with many mid-size drawdowns scores worse here than on Calmar.

Higher is better

excess CAGR / average deep drawdown

Formula

\displaystyle \mathrm{Sterling} = \frac{\mathrm{CAGR} - R_f}{\overline{D}_{>10\%}}

Sterling ratio Coherent Corp.'s Sterling ratio compares return against deep drawdown pressure. It gives a harsher read on assets that compound well but suffer ugly declines along the way. 1Y: 26.22; 5Y: 1.17.

Sterling uses average drawdown events deeper than 10% and subtracts the risk-free rate to report excess return.

Coherent Corp. Ulcer Index

COHR 1Y Ulcer Index

9.14

Recent window

COHR 5Y Ulcer Index

32.26

Deeper research window

COHR Ulcer Index (5Y)

Drawdown pain

The underwater curve shows how deep and how long Coherent Corp.'s drawdowns were. Ulcer is the root-mean-square of that curve — both depth and persistence count, so lower is better.

Lower is better

root-mean-square drawdown

Formula

\displaystyle \mathrm{UI} = \sqrt{\mathbb{E}[D_t^2]}

Ulcer Index Coherent Corp.'s Ulcer Index measures both the depth and persistence of drawdowns. Lower is better because it means fewer and shallower underwater periods. 1Y: 9.14; 5Y: 32.26.

Ulcer Index is computed from each asset's drawdown series over the full lookback window.

Coherent Corp. Treynor Ratio

COHR 1Y Treynor

↑ 0.70

Beta 2.77 vs SPY

COHR 5Y Treynor

↑ 0.22

Beta 1.99 vs SPY

COHR Treynor Ratio (5Y)

Excess return per beta vs SPY

The line's slope is Coherent Corp.'s beta to SPY — steeper means more market-sensitive. Treynor divides excess return by that slope, so an asset can look efficient with a shallow beta and a small return, or inefficient with a steep beta and a big return.

Higher is better

excess return / market beta

Formula

\displaystyle \mathrm{Treynor} = \frac{\mathbb{E}[R] - R_f}{\beta}

Treynor ratio measures excess return per unit of market beta versus SPY. A high Treynor means the asset compensated its market exposure well over this window. A low or negative Treynor means the asset's market risk wasn't rewarded.

Treynor uses beta vs the S&P 500 (SPY) on shared dates and the average 3-month Treasury rate as the risk-free rate.

Coherent Corp. Tail Risk

Tail-risk stats use daily return distributions rather than simple end-point returns. They show how ugly the left tail has been, how severe the worst 5% of days were, and whether returns were skewed toward outsized upside or downside shocks.

The histogram shows the shape of Coherent Corp.'s daily log returns over the 5Y window. Bars left of the 5% VaR marker are the worst 5% of days; the ES marker is the average loss inside that tail. Skew and excess kurtosis describe whether the distribution is symmetric around zero and whether extreme days are more common than a Normal distribution predicts.

COHR daily return distribution (5Y)

Log-return histogram with Value-at-Risk and Expected Shortfall markers at the 5% left tail.

Days

worst-5% daily return and the average loss inside it

Formula

\displaystyle \mathrm{VaR}_{5\%} = Q_{0.05}(R),\quad \mathrm{ES}_{5\%} = \mathbb{E}[R \mid R \le \mathrm{VaR}_{5\%}]

Metric	1Y	5Y
VaR (5%)	-6.3% Historical daily threshold	-5.4% Historical daily threshold
Expected shortfall (5%)	-10.0% Beyond the VaR threshold	-8.7% Beyond the VaR threshold
Skew	-0.58	-0.75
Excess kurtosis	3.72	10.14

Less negative daily VaR and Expected Shortfall values mean the left tail was less violent. Skew and excess kurtosis help distinguish between steady compounding and a path dominated by occasional extreme moves.

Full stats table

Every window-consistent research metric

Each column keeps the same horizon across returns, ratios, drawdowns, and tail-risk metrics.

Metric	1Y Recent window	5Y Deeper research window
Total return	+469.1%	+333.8%
Annualized return	+469.7%	+34.2%
Volatility	67.8% Annualized daily closes	60.2% Annualized daily closes
Sharpe ratio	2.86	0.72
Sortino ratio	4.50	1.06
Calmar ratio	17.72	0.53
Sterling ratio	26.22	1.17
Ulcer Index	9.14	32.26
Max drawdown	-26.5% 2026-03-02 to 2026-03-30	-64.5% 2021-04-26 to 2023-05-16
VaR (5%)	-6.3% Historical daily threshold	-5.4% Historical daily threshold
Expected shortfall (5%)	-10.0% Beyond the VaR threshold	-8.7% Beyond the VaR threshold
Skew	-0.58	-0.75
Excess kurtosis	3.72	10.14

What viewers usually ask next

What is Coherent Corp.'s 5Y CAGR?

Coherent Corp.'s 5y cagr is +34.2% on Gale using the past 5 years.

What is Coherent Corp.'s 1-year volatility?

Annualized volatility is 67.8% over the past year.

What is Coherent Corp.'s 5-year Sharpe ratio?

Coherent Corp.'s Sharpe ratio is 0.72 using the past 5 years.

What is Coherent Corp.'s 5-year Sortino ratio?

Coherent Corp.'s Sortino ratio is 1.06 using the past 5 years.

What is Coherent Corp.'s 5-year Calmar ratio?

Coherent Corp.'s Calmar ratio is 0.53 using the past 5 years.

What is Coherent Corp.'s 5-year Sterling ratio?

Coherent Corp.'s Sterling ratio is 1.17 using the past 5 years.

What is Coherent Corp.'s 5-year Ulcer Index?

Coherent Corp.'s Ulcer Index is 32.26 using the past 5 years. Lower is better because it means shallower and less persistent drawdowns.

What is Coherent Corp.'s 5-year max drawdown?

Max drawdown is -64.5% over the past 5 years from 2021-04-26 to 2023-05-16.

What is Coherent Corp.'s 5-year daily Value at Risk?

Using historical daily returns, Gale estimates a 5% Value at Risk of -5.40% over the past 5 years.

What is Coherent Corp.'s 5-year Expected Shortfall?

Expected Shortfall is -8.68% over the past 5 years, which captures the average outcome inside the worst 5% of daily returns.

Is Coherent Corp. still below its all-time high?

Current drawdown is -3.6% versus the all-time high of $350.47 reached on 2026-04-22.

Which benchmark should viewers open first for Coherent Corp.?

S&P 500 is the default benchmark lens on Gale because it gives the cleanest context for Coherent Corp.'s recent behavior.