^TNX vs. SNDK

Last updated Jun 16, 2026

^TNX (Cboe 10-Year Treasury Note Yield Index) is an index, while SNDK (Sandisk Corporation) is a stock. Over the past year, ^TNX returned 1.02% vs 4859.67% for SNDK. At a 0.01 correlation, their price movements are largely independent.

Performance

^TNX vs. SNDK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cboe 10-Year Treasury Note Yield Index (^TNX) and Sandisk Corporation (SNDK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ^TNX achieves a 7.35% return, which is significantly lower than SNDK's 787.97% return.

^TNX

• 1D: -0.40%
• 1M: -2.74%
• YTD: 7.35%
• 6M: 6.86%
• 1Y: 1.02%
• 3Y*: 5.84%
• 5Y*: 23.29%
• 10Y*: 10.69%

SNDK

• 1D: 6.45%
• 1M: 49.75%
• YTD: 787.97%
• 6M: 944.17%
• 1Y: 4,859.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

^TNX vs. SNDK - Yearly Performance Comparison

	2026 (YTD)	2025
^TNX Cboe 10-Year Treasury Note Yield Index	7.35%	-5.81%
SNDK Sandisk Corporation	787.97%	356.50%

Correlation

The correlation between ^TNX and SNDK is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (All Time) Calculated using the full available price history since Feb 24, 2025	0.01

Return for Risk

^TNX vs. SNDK — Risk / Return Rank

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

^TNX

^TNX Risk / Return Rank: 13
^TNX Sharpe Ratio Rank: 14
^TNX Sortino Ratio Rank: 12
^TNX Omega Ratio Rank: 12
^TNX Calmar Ratio Rank: 14
^TNX Martin Ratio Rank: 14

SNDK

SNDK Risk / Return Rank: 100
SNDK Sharpe Ratio Rank: 100
SNDK Sortino Ratio Rank: 99
SNDK Omega Ratio Rank: 99
SNDK Calmar Ratio Rank: 100
SNDK Martin Ratio Rank: 100

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. SNDK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cboe 10-Year Treasury Note Yield Index (^TNX) and Sandisk Corporation (SNDK). 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	SNDK	Difference
Sharpe ratio: Return per unit of total volatility	0.07	49.58	-49.51
Sortino ratio: Return per unit of downside risk	0.20	8.42	-8.22
Omega ratio: Gain probability vs. loss probability	1.02	2.17	-1.15
Calmar ratio: Return relative to maximum drawdown	0.09	157.55	-157.46
Martin ratio: Return relative to average drawdown	0.15	477.29	-477.13

^TNX vs. SNDK - Sharpe Ratio Comparison

The current ^TNX Sharpe Ratio is 0.07, which is lower than the SNDK Sharpe Ratio of 49.58. The chart below compares the historical Sharpe Ratios of ^TNX and SNDK, 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

^TNX vs. SNDK - Drawdown Comparison

The maximum ^TNX drawdown since its inception was -96.85%, which is greater than SNDK's maximum drawdown of -47.50%. Use the drawdown chart below to compare losses from any high point for ^TNX and SNDK.

Drawdown Indicators

	^TNX	SNDK	Difference
Max Drawdown Largest peak-to-trough decline	-96.85%	-47.50%	-49.35%
Max Drawdown (1Y) Largest decline over 1 year	-11.94%	-31.34%	+19.40%
Max Drawdown (3Y) Largest decline over 3 years	-27.41%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.41%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-84.57%	—	—
Current Drawdown Current decline from peak	-71.79%	0.00%	-71.79%
Average Drawdown Average peak-to-trough decline	-55.00%	-13.70%	-41.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.59%	10.32%	-3.73%

Volatility

^TNX vs. SNDK - Volatility Comparison

The current volatility for Cboe 10-Year Treasury Note Yield Index (^TNX) is 5.03%, while Sandisk Corporation (SNDK) has a volatility of 26.29%. This indicates that ^TNX experiences smaller price fluctuations and is considered to be less risky than SNDK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^TNX	SNDK	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.03%	26.29%	-21.26%
Volatility (6M) Calculated over the trailing 6-month period	10.72%	72.07%	-61.35%
Volatility (1Y) Calculated over the trailing 1-year period	15.13%	99.78%	-84.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.36%	97.60%	-65.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.98%	97.60%	-49.62%

Frequently Asked Questions

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

^TNX and SNDK have a correlation of -0.03, 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 SNDK?

SNDK has higher volatility (26.29%) compared to ^TNX (5.03%). In terms of maximum drawdown, ^TNX dropped -96.85% vs SNDK's -47.50%.

Which has better risk-adjusted returns?

SNDK currently has the higher Sharpe Ratio (49.58 vs 0.07), 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.