AA vs. FNV
AA (Alcoa Corporation) and FNV (Franco-Nevada Corporation) are both stocks. Both are in the Basic Materials sector — AA in Aluminum, FNV in Gold. Over the past 5 years, AA returned 14.08%/yr vs 7.76%/yr for FNV. At a 0.22 correlation, their price movements are largely independent.
Performance
AA vs. FNV - Performance Comparison
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Returns By Period
In the year-to-date period, AA achieves a 29.83% return, which is significantly higher than FNV's 1.43% return.
AA
- 1D
- -0.30%
- 1M
- 0.64%
- YTD
- 29.83%
- 6M
- 49.53%
- 1Y
- 140.52%
- 3Y*
- 24.73%
- 5Y*
- 14.08%
- 10Y*
- —
FNV
- 1D
- 0.75%
- 1M
- -12.83%
- YTD
- 1.43%
- 6M
- -2.28%
- 1Y
- 25.80%
- 3Y*
- 14.28%
- 5Y*
- 7.76%
- 10Y*
- 12.96%
AA vs. FNV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AA Alcoa Corporation | 29.83% | 42.46% | 12.43% | -24.33% | -23.12% | 159.05% | 7.16% | -19.07% | -50.66% | 91.84% |
FNV Franco-Nevada Corporation | 1.43% | 77.81% | 7.41% | -17.96% | -0.39% | 11.57% | 22.31% | 48.92% | -11.00% | 35.45% |
Correlation
The correlation between AA and FNV is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2016 | 0.22 |
The correlation between AA and FNV shifts across timeframes, from 0.22 (all time) to 0.38 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
AA:
$18.13B
FNV:
$40.47B
AA:
$3.92
FNV:
$7.10
AA:
17.55
FNV:
29.51
AA:
0.05
FNV:
0.62
AA:
1.42
FNV:
19.22
AA:
2.66
FNV:
4.98
AA:
$12.66B
FNV:
$2.10B
AA:
$948.00M
FNV:
$1.61B
AA:
$1.70B
FNV:
$1.96B
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Return for Risk
AA vs. FNV — Risk / Return Rank
AA
FNV
AA vs. FNV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alcoa Corporation (AA) and Franco-Nevada Corporation (FNV). 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.
| AA | FNV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.15 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 6.49 | 1.01 | +5.49 |
| Martin ratioReturn relative to average drawdown | 20.55 | 2.50 | +18.05 |
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Drawdowns
AA vs. FNV - Drawdown Comparison
The maximum AA drawdown since its inception was -90.90%, which is greater than FNV's maximum drawdown of -58.76%. Use the drawdown chart below to compare losses from any high point for AA and FNV.
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Drawdown Indicators
| AA | FNV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.90% | -58.76% | -32.14% |
Max Drawdown (1Y)Largest decline over 1 year | -21.77% | -25.68% | +3.91% |
Max Drawdown (3Y)Largest decline over 3 years | -52.25% | -29.64% | -22.61% |
Max Drawdown (5Y)Largest decline over 5 years | -75.46% | -37.12% | -38.34% |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.12% | — |
Current DrawdownCurrent decline from peak | -24.27% | -25.13% | +0.86% |
Average DrawdownAverage peak-to-trough decline | -46.12% | -13.97% | -32.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.87% | 10.33% | -3.46% |
Volatility
AA vs. FNV - Volatility Comparison
Alcoa Corporation (AA) has a higher volatility of 21.35% compared to Franco-Nevada Corporation (FNV) at 11.92%. This indicates that AA's price experiences larger fluctuations and is considered to be riskier than FNV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AA | FNV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.35% | 11.92% | +9.43% |
Volatility (6M)Calculated over the trailing 6-month period | 41.11% | 29.98% | +11.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.44% | 35.97% | +18.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.26% | 30.32% | +25.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.66% | 30.17% | +25.49% |
Dividends
AA vs. FNV - Dividend Comparison
AA's dividend yield for the trailing twelve months is around 0.58%, less than FNV's 0.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AA Alcoa Corporation | 0.58% | 0.75% | 1.06% | 1.18% | 0.88% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.32% | 0.00% |
FNV Franco-Nevada Corporation | 0.78% | 0.73% | 1.22% | 1.23% | 0.94% | 1.10% | 0.82% | 0.96% | 1.35% | 1.14% | 1.46% | 1.81% |
Financials
AA vs. FNV - Financials Comparison
This section allows you to compare key financial metrics between Alcoa Corporation and Franco-Nevada Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
AA vs. FNV - Profitability Comparison
AA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Alcoa Corporation reported a gross profit of 0.00 and revenue of 3.19B. Therefore, the gross margin over that period was 0.0%.
FNV - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Franco-Nevada Corporation reported a gross profit of 518.42M and revenue of 641.09M. Therefore, the gross margin over that period was 80.9%.
AA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Alcoa Corporation reported an operating income of 0.00 and revenue of 3.19B, resulting in an operating margin of 0.0%.
FNV - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Franco-Nevada Corporation reported an operating income of 503.23M and revenue of 641.09M, resulting in an operating margin of 78.5%.
AA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Alcoa Corporation reported a net income of 425.00M and revenue of 3.19B, resulting in a net margin of 13.3%.
FNV - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Franco-Nevada Corporation reported a net income of 462.11M and revenue of 641.09M, resulting in a net margin of 72.1%.
Frequently Asked Questions
AA and FNV have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AA has higher volatility (21.35%) compared to FNV (11.92%). In terms of maximum drawdown, AA dropped -90.90% vs FNV's -58.76%.
AA currently has the higher Sharpe Ratio (2.60 vs 0.72), 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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