^TNX vs. KMB

Last updated Jun 3, 2026

^TNX (Treasury Yield 10 Years) is an index, while KMB (Kimberly-Clark Corporation) is a stock. Over the past 10 years, ^TNX returned 10.14%/yr vs 0.57%/yr for KMB. At a 0.02 correlation, their price movements are largely independent.

Performance

^TNX vs. KMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Treasury Yield 10 Years (^TNX) and Kimberly-Clark Corporation (KMB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ^TNX achieves a 7.49% return, which is significantly higher than KMB's -2.18% return. Over the past 10 years, ^TNX has outperformed KMB with an annualized return of 10.14%, while KMB has yielded a comparatively lower 0.57% annualized return.

^TNX

• 1D: 0.49%
• 1M: 2.22%
• YTD: 7.49%
• 6M: 9.52%
• 1Y: 0.29%
• 3Y*: 6.63%
• 5Y*: 22.98%
• 10Y*: 10.14%

KMB

• 1D: -0.47%
• 1M: -0.18%
• YTD: -2.18%
• 6M: -6.60%
• 1Y: -28.13%
• 3Y*: -6.99%
• 5Y*: -2.12%
• 10Y*: 0.57%

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

^TNX vs. KMB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^TNX Treasury Yield 10 Years	7.49%	-8.97%	18.29%	-0.34%	156.55%	64.89%	-52.21%	-28.56%	11.68%	-1.68%
KMB Kimberly-Clark Corporation	-2.18%	-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 -0.27, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.27
Correlation (3Y) Calculated over the trailing 3-year period	-0.19
Correlation (5Y) Calculated over the trailing 5-year period	-0.17
Correlation (10Y) Calculated over the trailing 10-year period	-0.11
Correlation (All Time) Calculated using the full available price history since Nov 3, 1993	0.02

The correlation between ^TNX and KMB shifts across timeframes, from -0.27 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

^TNX vs. KMB — Risk / Return Rank

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

^TNX

^TNX Risk / Return Rank: 12
^TNX Sharpe Ratio Rank: 12
^TNX Sortino Ratio Rank: 12
^TNX Omega Ratio Rank: 12
^TNX Calmar Ratio Rank: 13
^TNX Martin Ratio Rank: 12

KMB

KMB Risk / Return Rank: 5
KMB Sharpe Ratio Rank: 2
KMB Sortino Ratio Rank: 6
KMB Omega Ratio Rank: 4
KMB Calmar Ratio Rank: 4
KMB Martin Ratio Rank: 7

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.

^TNX vs. KMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Treasury Yield 10 Years (^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.

	^TNX	KMB	Difference
Sharpe ratio Return per unit of total volatility	0.09	-1.14	+1.23
Sortino ratio Return per unit of downside risk	0.23	-1.45	+1.68
Omega ratio Gain probability vs. loss probability	1.03	0.79	+0.24
Calmar ratio Return relative to maximum drawdown	0.09	-0.93	+1.02
Martin ratio Return relative to average drawdown	0.17	-1.40	+1.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^TNX vs. KMB - Sharpe Ratio Comparison

The current ^TNX Sharpe Ratio is 0.09, which is higher than the KMB Sharpe Ratio of -1.14. The chart below compares the historical Sharpe Ratios of ^TNX and KMB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	^TNX	KMB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.09	-1.14	+1.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	-0.11	+0.82
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	0.03	+0.18
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	0.46	-0.48

Drawdowns

^TNX vs. KMB - Drawdown Comparison

The maximum ^TNX drawdown since its inception was -93.78%, 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.

Drawdown Indicators

	^TNX	KMB	Difference
Max Drawdown Largest peak-to-trough decline	-93.78%	-36.97%	-56.81%
Max Drawdown (1Y) Largest decline over 1 year	-12.35%	-30.33%	+17.98%
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 Drawdown Current decline from peak	-44.22%	-30.92%	-13.30%
Average Drawdown Average peak-to-trough decline	-51.35%	-8.83%	-42.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.96%	20.79%	-13.83%

Volatility

^TNX vs. KMB - Volatility Comparison

The current volatility for Treasury Yield 10 Years (^TNX) is 5.23%, while Kimberly-Clark Corporation (KMB) has a volatility of 6.12%. 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.

Volatility by Period

	^TNX	KMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.23%	6.12%	-0.89%
Volatility (6M) Calculated over the trailing 6-month period	10.75%	15.09%	-4.34%
Volatility (1Y) Calculated over the trailing 1-year period	15.54%	24.77%	-9.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.50%	19.91%	+12.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.04%	20.94%	+27.10%

Frequently Asked Questions

Can I hold both ^TNX and KMB in my portfolio?

^TNX and KMB have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ^TNX or KMB?

KMB has higher volatility (6.12%) compared to ^TNX (5.23%). In terms of maximum drawdown, ^TNX dropped -93.78% vs KMB's -36.97%.

Which has better risk-adjusted returns?

^TNX currently has the higher Sharpe Ratio (0.09 vs -1.14), 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.