^TNX vs. KMB
^TNX (Cboe 10-Year Treasury Note Yield Index) is an index, while KMB (Kimberly-Clark Corporation) is a stock. Over the past 10 years, ^TNX returned 11.93%/yr vs 1.74%/yr for KMB. Their -0.02 correlation means they have often moved in opposite directions in the past.
Performance
^TNX vs. KMB - Performance Comparison
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Returns By Period
In the year-to-date period, ^TNX achieves a 13.98% return, which is significantly higher than KMB's 11.19% return. Over the past 10 years, ^TNX has outperformed KMB with an annualized return of 11.93%, while KMB has yielded a comparatively lower 1.74% annualized return.
^TNX
- 1D
- 1.76%
- 1M
- 5.80%
- 6M
- 11.88%
- YTD
- 13.98%
- 1Y
- 12.44%
- 3Y*
- 5.41%
- 5Y*
- 30.81%
- 10Y*
- 11.93%
- ALL TIME*
- -0.89%
KMB
- 1D
- -0.80%
- 1M
- -4.72%
- 6M
- 12.19%
- YTD
- 11.19%
- 1Y
- -12.23%
- 3Y*
- -1.48%
- 5Y*
- -0.50%
- 10Y*
- 1.74%
- ALL TIME*
- 10.90%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $325.44M | $393.74M | $451.43M |
^TNX vs. KMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^TNX Cboe 10-Year Treasury Note Yield Index | 13.98% | -8.97% | 18.29% | -0.34% | 156.55% | 64.89% | -52.21% | -28.56% | 11.68% | -1.68% |
KMB Kimberly-Clark Corporation | 11.19% | -19.86% | 11.79% | -7.08% | -1.58% | 9.66% | 0.95% | 24.57% | -2.06% | 9.04% |
Correlation
The correlation between ^TNX and KMB is -0.26, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.26 |
Correlation (3Y) Balances recent behavior with more history. | -0.20 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.17 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.11 |
Correlation (All Time) Calculated using the full available price history since Dec 17, 1984 | -0.02 |
Over the past year, the inverse relationship between ^TNX and KMB has strengthened: their correlation has moved from -0.02 to -0.26, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
^TNX vs. KMB — Risk / Return Rank
^TNX
KMB
^TNX vs. KMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cboe 10-Year Treasury Note Yield Index (^TNX) and Kimberly-Clark Corporation (KMB). 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.
| ^TNX | KMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.89 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 0.97 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.99 | -0.27 | +1.26 |
| Martin ratioReturn relative to average drawdown | 2.04 | -0.39 | +2.43 |
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Drawdowns
^TNX vs. KMB - Drawdown Comparison
The maximum ^TNX drawdown since its inception was -96.85%, which is greater than KMB's maximum drawdown of -36.97%. Use the drawdown chart below to compare losses from any high point for ^TNX and KMB.
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Drawdown Indicators
| ^TNX | KMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.85% | -36.97% | -59.88% |
Max Drawdown (1Y)Largest decline over 1 year | -8.94% | -29.60% | +20.66% |
Max Drawdown (3Y)Largest decline over 3 years | -27.41% | -34.06% | +6.65% |
Max Drawdown (5Y)Largest decline over 5 years | -27.41% | -34.06% | +6.65% |
Max Drawdown (10Y)Largest decline over 10 years | -84.57% | -34.06% | -50.51% |
Current DrawdownCurrent decline from peak | -70.04% | -21.48% | -48.56% |
Average DrawdownAverage peak-to-trough decline | -55.04% | -8.89% | -46.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.64% | 20.31% | -15.67% |
Volatility
^TNX vs. KMB - Volatility Comparison
The current volatility for Cboe 10-Year Treasury Note Yield Index (^TNX) is 3.64%, while Kimberly-Clark Corporation (KMB) has a volatility of 8.53%. This indicates that ^TNX experiences smaller price fluctuations and is considered to be less risky than KMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^TNX | KMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.64% | 8.53% | -4.89% |
Volatility (6M)Calculated over the trailing 6-month period | 11.05% | 18.63% | -7.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.89% | 27.16% | -12.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.23% | 20.63% | +10.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.62% | 21.25% | +26.37% |
Frequently Asked Questions
^TNX and KMB have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KMB has higher volatility (8.53%) compared to ^TNX (3.64%). In terms of maximum drawdown, ^TNX dropped -96.85% vs KMB's -36.97%.
^TNX currently has the higher Sharpe Ratio (0.60 vs -0.30), 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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