^GSPC vs. MSFT.NEO

Last updated Jun 16, 2026

^GSPC (S&P 500 Index) is an index, while MSFT.NEO (Microsoft Corp CDR) is a stock. Over the past 3 years, ^GSPC returned 19.66%/yr vs 2.25%/yr for MSFT.NEO. A 0.66 correlation means they provide meaningful diversification when combined.

Performance

^GSPC vs. MSFT.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in S&P 500 Index (^GSPC) and Microsoft Corp CDR (MSFT.NEO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

^GSPC is traded in USD, while MSFT.NEO is traded in CAD. To make them comparable, the MSFT.NEO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ^GSPC achieves a 10.35% return, which is significantly higher than MSFT.NEO's -19.49% return.

^GSPC

• 1D: 1.65%
• 1M: 1.97%
• YTD: 10.35%
• 6M: 10.82%
• 1Y: 26.39%
• 3Y*: 19.66%
• 5Y*: 12.33%
• 10Y*: 13.81%

MSFT.NEO

• 1D: 2.32%
• 1M: -6.65%
• YTD: -19.49%
• 6M: -17.72%
• 1Y: -19.35%
• 3Y*: 2.25%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

^GSPC vs. MSFT.NEO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
^GSPC S&P 500 Index	10.35%	16.39%	23.31%	24.23%	-19.44%	10.83%
MSFT.NEO Microsoft Corp CDR	-19.49%	17.99%	2.58%	60.15%	-33.47%	15.43%

Correlation

The correlation between ^GSPC and MSFT.NEO is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (All Time) Calculated using the full available price history since Oct 5, 2021	0.66

Over the past year, the correlation between ^GSPC and MSFT.NEO has dropped to 0.41 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

Return for Risk

^GSPC vs. MSFT.NEO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^GSPC

^GSPC Risk / Return Rank: 83
^GSPC Sharpe Ratio Rank: 81
^GSPC Sortino Ratio Rank: 84
^GSPC Omega Ratio Rank: 86
^GSPC Calmar Ratio Rank: 76
^GSPC Martin Ratio Rank: 86

MSFT.NEO

MSFT.NEO Risk / Return Rank: 18
MSFT.NEO Sharpe Ratio Rank: 13
MSFT.NEO Sortino Ratio Rank: 15
MSFT.NEO Omega Ratio Rank: 15
MSFT.NEO Calmar Ratio Rank: 25
MSFT.NEO Martin Ratio Rank: 21

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^GSPC vs. MSFT.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for S&P 500 Index (^GSPC) and Microsoft Corp CDR (MSFT.NEO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	^GSPC	MSFT.NEO	Difference
Sharpe ratio: Return per unit of total volatility	2.14	-0.74	+2.88
Sortino ratio: Return per unit of downside risk	2.89	-0.91	+3.80
Omega ratio: Gain probability vs. loss probability	1.39	0.89	+0.50
Calmar ratio: Return relative to maximum drawdown	2.91	-0.57	+3.48
Martin ratio: Return relative to average drawdown	13.08	-1.18	+14.26

^GSPC vs. MSFT.NEO - Sharpe Ratio Comparison

The current ^GSPC Sharpe Ratio is 2.14, which is higher than the MSFT.NEO Sharpe Ratio of -0.74. The chart below compares the historical Sharpe Ratios of ^GSPC and MSFT.NEO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

^GSPC vs. MSFT.NEO - Drawdown Comparison

The maximum ^GSPC drawdown since its inception was -56.78%, which is greater than MSFT.NEO's maximum drawdown of -42.98%. Use the drawdown chart below to compare losses from any high point for ^GSPC and MSFT.NEO.

Drawdown Indicators

	^GSPC	MSFT.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-56.78%	-42.98%	-13.80%
Max Drawdown (1Y) Largest decline over 1 year	-9.10%	-34.13%	+25.03%
Max Drawdown (3Y) Largest decline over 3 years	-18.90%	-34.13%	+15.23%
Max Drawdown (5Y) Largest decline over 5 years	-25.43%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.92%	—	—
Current Drawdown Current decline from peak	-0.73%	-27.17%	+26.44%
Average Drawdown Average peak-to-trough decline	-10.72%	-14.17%	+3.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	16.49%	-14.47%

Volatility

^GSPC vs. MSFT.NEO - Volatility Comparison

The current volatility for S&P 500 Index (^GSPC) is 4.67%, while Microsoft Corp CDR (MSFT.NEO) has a volatility of 10.98%. This indicates that ^GSPC experiences smaller price fluctuations and is considered to be less risky than MSFT.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^GSPC	MSFT.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	10.98%	-6.31%
Volatility (6M) Calculated over the trailing 6-month period	9.83%	22.91%	-13.08%
Volatility (1Y) Calculated over the trailing 1-year period	12.44%	26.13%	-13.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.99%	27.83%	-10.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.11%	27.83%	-9.72%

Frequently Asked Questions

Can I hold both ^GSPC and MSFT.NEO in my portfolio?

^GSPC and MSFT.NEO have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.