^OEX vs. MSFT
^OEX (S&P 100 Index) is an index, while MSFT (Microsoft Corporation) is a stock. Over the past 10 years, ^OEX returned 14.89%/yr vs 23.85%/yr for MSFT. A 0.63 correlation means they provide meaningful diversification when combined.
Performance
^OEX vs. MSFT - Performance Comparison
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Returns By Period
In the year-to-date period, ^OEX achieves a 5.15% return, which is significantly higher than MSFT's -22.33% return. Over the past 10 years, ^OEX has underperformed MSFT with an annualized return of 14.89%, while MSFT has yielded a comparatively higher 23.85% annualized return.
^OEX
- 1D
- -1.46%
- 1M
- -2.80%
- YTD
- 5.15%
- 6M
- 4.24%
- 1Y
- 22.49%
- 3Y*
- 21.03%
- 5Y*
- 13.11%
- 10Y*
- 14.89%
MSFT
- 1D
- 1.80%
- 1M
- -10.66%
- YTD
- -22.33%
- 6M
- -22.85%
- 1Y
- -22.44%
- 3Y*
- 4.54%
- 5Y*
- 7.88%
- 10Y*
- 23.85%
^OEX vs. MSFT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^OEX S&P 100 Index | 5.15% | 18.76% | 29.25% | 30.83% | -22.12% | 27.55% | 19.30% | 29.47% | -5.86% | 19.34% |
MSFT Microsoft Corporation | -22.33% | 15.58% | 12.93% | 58.19% | -28.02% | 52.48% | 42.53% | 57.56% | 20.80% | 40.73% |
Correlation
The correlation between ^OEX and MSFT is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 1986 | 0.63 |
The correlation between ^OEX and MSFT shifts across timeframes, from 0.52 (1 year) to 0.77 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
^OEX vs. MSFT — Risk / Return Rank
^OEX
MSFT
^OEX vs. MSFT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for S&P 100 Index (^OEX) and Microsoft Corporation (MSFT). 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.
| ^OEX | MSFT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.55 | ||
| Sortino ratioReturn per unit of downside risk | +3.41 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.86 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | -0.66 | +2.66 |
| Martin ratioReturn relative to average drawdown | 8.02 | -1.32 | +9.34 |
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Drawdowns
^OEX vs. MSFT - Drawdown Comparison
The maximum ^OEX drawdown since its inception was -61.31%, smaller than the maximum MSFT drawdown of -69.38%. Use the drawdown chart below to compare losses from any high point for ^OEX and MSFT.
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Drawdown Indicators
| ^OEX | MSFT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.31% | -69.38% | +8.07% |
Max Drawdown (1Y)Largest decline over 1 year | -11.30% | -33.91% | +22.61% |
Max Drawdown (3Y)Largest decline over 3 years | -19.89% | -33.91% | +14.02% |
Max Drawdown (5Y)Largest decline over 5 years | -27.23% | -37.15% | +9.92% |
Max Drawdown (10Y)Largest decline over 10 years | -31.53% | -37.15% | +5.62% |
Current DrawdownCurrent decline from peak | -4.59% | -30.58% | +25.99% |
Average DrawdownAverage peak-to-trough decline | -12.65% | -21.79% | +9.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.81% | 17.08% | -14.27% |
Volatility
^OEX vs. MSFT - Volatility Comparison
The current volatility for S&P 100 Index (^OEX) is 5.28%, while Microsoft Corporation (MSFT) has a volatility of 11.34%. This indicates that ^OEX experiences smaller price fluctuations and is considered to be less risky than MSFT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^OEX | MSFT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.28% | 11.34% | -6.06% |
Volatility (6M)Calculated over the trailing 6-month period | 10.59% | 22.94% | -12.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.45% | 26.02% | -12.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.88% | 26.79% | -8.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.51% | 27.09% | -8.58% |
Frequently Asked Questions
^OEX and MSFT have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSFT has higher volatility (11.34%) compared to ^OEX (5.28%). In terms of maximum drawdown, ^OEX dropped -61.31% vs MSFT's -69.38%.
^OEX currently has the higher Sharpe Ratio (1.68 vs -0.87), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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