AA vs. VALE

Last updated Apr 1, 2026

Compare and contrast key facts about Alcoa Corporation (AA) and Vale S.A. (VALE).

Performance

AA vs. VALE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alcoa Corporation (AA) and Vale S.A. (VALE). The values are adjusted to include any dividend payments, if applicable.

AA vs. VALE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AA Alcoa Corporation	25.03%	42.46%	12.43%	-24.33%	-23.12%	159.05%	7.16%	-19.07%	-50.66%	91.84%
VALE Vale S.A.	22.10%	60.70%	-38.83%	1.57%	32.54%	-1.45%	32.40%	2.72%	12.25%	68.03%

Fundamentals

Market Cap AA : $17.31B VALE : $67.92B
EPS AA : $4.50 VALE : $0.54
PE Ratio AA : 14.74 VALE : 29.65
PS Ratio AA : 1.35 VALE : 1.77
PB Ratio AA : 2.82 VALE : 2.02
Total Revenue (TTM) AA : $12.74B VALE : $38.39B
Gross Profit (TTM) AA : $1.13B VALE : $13.26B
EBITDA (TTM) AA : $1.88B VALE : $13.88B

Returns By Period

In the year-to-date period, AA achieves a 25.03% return, which is significantly higher than VALE's 22.10% return.

AA

• 1D: 4.92%
• 1M: 7.02%
• YTD: 25.03%
• 6M: 102.55%
• 1Y: 119.91%
• 3Y*: 17.35%
• 5Y*: 16.63%
• 10Y*: —

VALE

• 1D: 5.36%
• 1M: -7.39%
• YTD: 22.10%
• 6M: 49.12%
• 1Y: 67.78%
• 3Y*: 8.64%
• 5Y*: 8.31%
• 10Y*: 21.95%

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

Return for Risk

AA vs. VALE — Risk / Return Rank

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

AA

AA Risk / Return Rank: 90
AA Sharpe Ratio Rank: 92
AA Sortino Ratio Rank: 89
AA Omega Ratio Rank: 85
AA Calmar Ratio Rank: 92
AA Martin Ratio Rank: 94

VALE

VALE Risk / Return Rank: 89
VALE Sharpe Ratio Rank: 91
VALE Sortino Ratio Rank: 88
VALE Omega Ratio Rank: 87
VALE Calmar Ratio Rank: 88
VALE Martin Ratio Rank: 91

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.

AA vs. VALE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alcoa Corporation (AA) and Vale S.A. (VALE). 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.

	AA	VALE	Difference
Sharpe ratio Return per unit of total volatility	2.13	2.07	+0.06
Sortino ratio Return per unit of downside risk	2.69	2.61	+0.08
Omega ratio Gain probability vs. loss probability	1.33	1.35	-0.02
Calmar ratio Return relative to maximum drawdown	4.43	3.36	+1.07
Martin ratio Return relative to average drawdown	13.84	11.28	+2.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AA vs. VALE - Sharpe Ratio Comparison

The current AA Sharpe Ratio is 2.13, which is comparable to the VALE Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of AA and VALE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AA	VALE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	2.07	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.23	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.31	-0.08

Correlation

The correlation between AA and VALE is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

AA vs. VALE - Dividend Comparison

AA's dividend yield for the trailing twelve months is around 0.60%, less than VALE's 3.61% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AA Alcoa Corporation	0.60%	0.75%	1.06%	1.18%	0.88%	0.17%	0.00%	0.00%	0.00%	0.00%	0.32%	0.00%
VALE Vale S.A.	3.61%	7.29%	11.41%	7.75%	8.63%	19.70%	2.72%	2.63%	4.16%	3.77%	1.06%	7.48%

Drawdowns

AA vs. VALE - Drawdown Comparison

The maximum AA drawdown since its inception was -90.90%, roughly equal to the maximum VALE drawdown of -92.78%. Use the drawdown chart below to compare losses from any high point for AA and VALE.

Drawdown Indicators

	AA	VALE	Difference
Max Drawdown Largest peak-to-trough decline	-90.90%	-92.78%	+1.88%
Max Drawdown (1Y) Largest decline over 1 year	-26.82%	-19.85%	-6.97%
Max Drawdown (5Y) Largest decline over 5 years	-75.46%	-49.79%	-25.67%
Max Drawdown (10Y) Largest decline over 10 years	—	-57.60%	—
Current Drawdown Current decline from peak	-27.07%	-9.24%	-17.83%
Average Drawdown Average peak-to-trough decline	-46.62%	-36.95%	-9.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.58%	5.92%	+2.66%

Volatility

AA vs. VALE - Volatility Comparison

Alcoa Corporation (AA) has a higher volatility of 18.64% compared to Vale S.A. (VALE) at 13.54%. This indicates that AA's price experiences larger fluctuations and is considered to be riskier than VALE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AA	VALE	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.64%	13.54%	+5.10%
Volatility (6M) Calculated over the trailing 6-month period	41.22%	24.51%	+16.71%
Volatility (1Y) Calculated over the trailing 1-year period	56.63%	32.86%	+23.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.11%	35.65%	+20.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.61%	42.24%	+13.37%

Financials

AA vs. VALE - Profitability Comparison

The chart below illustrates the profitability comparison between Alcoa Corporation and Vale S.A. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Alcoa Corporation reported a gross profit of 0.00 and revenue of 3.45B. Therefore, the gross margin over that period was 0.0%.

VALE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Vale S.A. reported a gross profit of 4.08B and revenue of 11.06B. Therefore, the gross margin over that period was 36.9%.

AA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Alcoa Corporation reported an operating income of 0.00 and revenue of 3.45B, resulting in an operating margin of 0.0%.

VALE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Vale S.A. reported an operating income of 2.91B and revenue of 11.06B, resulting in an operating margin of 26.3%.

AA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Alcoa Corporation reported a net income of 226.00M and revenue of 3.45B, resulting in a net margin of 6.6%.

VALE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Vale S.A. reported a net income of -3.90B and revenue of 11.06B, resulting in a net margin of -35.3%.