ADBE vs. MCK

Last updated Jun 13, 2026

ADBE (Adobe Inc) and MCK (McKesson Corporation) are both stocks. ADBE operates in Software - Infrastructure (Technology), while MCK operates in Medical Distribution (Healthcare). Over the past 10 years, ADBE returned 7.72%/yr vs 16.64%/yr for MCK. At a 0.22 correlation, their price movements are largely independent.

Performance

ADBE vs. MCK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Adobe Inc (ADBE) and McKesson Corporation (MCK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADBE achieves a -41.71% return, which is significantly lower than MCK's -4.23% return. Over the past 10 years, ADBE has underperformed MCK with an annualized return of 7.72%, while MCK has yielded a comparatively higher 16.64% annualized return.

ADBE

• 1D: -6.76%
• 1M: -13.58%
• YTD: -41.71%
• 6M: -42.76%
• 1Y: -50.68%
• 3Y*: -24.76%
• 5Y*: -17.73%
• 10Y*: 7.72%

MCK

• 1D: -0.40%
• 1M: 6.48%
• YTD: -4.23%
• 6M: -3.47%
• 1Y: 7.72%
• 3Y*: 26.04%
• 5Y*: 32.74%
• 10Y*: 16.64%

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

ADBE vs. MCK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ADBE Adobe Inc	-41.71%	-21.29%	-25.46%	77.28%	-40.65%	13.38%	51.64%	45.78%	29.10%	70.22%
MCK McKesson Corporation	-4.23%	44.54%	23.67%	24.13%	51.82%	44.23%	27.06%	26.72%	-28.40%	11.95%

Correlation

The correlation between ADBE and MCK is -0.12, 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	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	0.15
Correlation (All Time) Calculated using the full available price history since Nov 15, 1994	0.22

The correlation between ADBE and MCK shifts across timeframes, from -0.12 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap ADBE : $82.02B MCK : $96.20B
EPS ADBE : $17.42 MCK : $38.38
PE Ratio ADBE : 11.71 MCK : 20.43
PEG Ratio ADBE : 0.83 MCK : 0.27
PS Ratio ADBE : 3.36 MCK : 0.24
PB Ratio ADBE : 7.12 MCK : 13.91
Total Revenue (TTM) ADBE : $25.20B MCK : $403.43B
Gross Profit (TTM) ADBE : $22.46B MCK : $14.55B
EBITDA (TTM) ADBE : $9.68B MCK : $6.91B

Return for Risk

ADBE vs. MCK — Risk / Return Rank

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

ADBE

ADBE Risk / Return Rank: 1
ADBE Sharpe Ratio Rank: 1
ADBE Sortino Ratio Rank: 1
ADBE Omega Ratio Rank: 2
ADBE Calmar Ratio Rank: 0
ADBE Martin Ratio Rank: 1

MCK

MCK Risk / Return Rank: 50
MCK Sharpe Ratio Rank: 53
MCK Sortino Ratio Rank: 47
MCK Omega Ratio Rank: 47
MCK Calmar Ratio Rank: 50
MCK Martin Ratio Rank: 51

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.

ADBE vs. MCK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Adobe Inc (ADBE) and McKesson Corporation (MCK). 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.

	ADBE	MCK	Difference
Sharpe ratio: Return per unit of total volatility	-1.45	0.27	-1.72
Sortino ratio: Return per unit of downside risk	-2.33	0.63	-2.96
Omega ratio: Gain probability vs. loss probability	0.73	1.08	-0.35
Calmar ratio: Return relative to maximum drawdown	-1.03	0.29	-1.32
Martin ratio: Return relative to average drawdown	-1.99	0.74	-2.73

ADBE vs. MCK - Sharpe Ratio Comparison

The current ADBE Sharpe Ratio is -1.45, which is lower than the MCK Sharpe Ratio of 0.27. The chart below compares the historical Sharpe Ratios of ADBE and MCK, 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

ADBE vs. MCK - Drawdown Comparison

The maximum ADBE drawdown since its inception was -79.89%, roughly equal to the maximum MCK drawdown of -82.84%. Use the drawdown chart below to compare losses from any high point for ADBE and MCK.

Drawdown Indicators

	ADBE	MCK	Difference
Max Drawdown Largest peak-to-trough decline	-79.89%	-82.84%	+2.95%
Max Drawdown (1Y) Largest decline over 1 year	-49.21%	-27.17%	-22.04%
Max Drawdown (3Y) Largest decline over 3 years	-67.86%	-27.17%	-40.69%
Max Drawdown (5Y) Largest decline over 5 years	-70.36%	-27.17%	-43.19%
Max Drawdown (10Y) Largest decline over 10 years	-70.36%	-44.23%	-26.13%
Current Drawdown Current decline from peak	-70.36%	-21.17%	-49.19%
Average Drawdown Average peak-to-trough decline	-25.99%	-28.64%	+2.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.31%	10.40%	+16.91%

Volatility

ADBE vs. MCK - Volatility Comparison

Adobe Inc (ADBE) has a higher volatility of 16.64% compared to McKesson Corporation (MCK) at 6.47%. This indicates that ADBE's price experiences larger fluctuations and is considered to be riskier than MCK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADBE	MCK	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.64%	6.47%	+10.17%
Volatility (6M) Calculated over the trailing 6-month period	29.17%	22.74%	+6.43%
Volatility (1Y) Calculated over the trailing 1-year period	35.08%	29.14%	+5.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.54%	24.19%	+12.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.48%	28.82%	+5.66%

Dividends

ADBE vs. MCK - Dividend Comparison

ADBE has not paid dividends to shareholders, while MCK's dividend yield for the trailing twelve months is around 0.42%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADBE Adobe Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MCK McKesson Corporation	0.42%	0.37%	0.47%	0.50%	0.54%	0.72%	0.95%	1.16%	1.32%	0.80%	0.80%	0.53%

Financials

ADBE vs. MCK - Profitability Comparison

The chart below illustrates the profitability comparison between Adobe Inc and McKesson Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ADBE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Adobe Inc reported a gross profit of 5.90B and revenue of 6.62B. Therefore, the gross margin over that period was 89.2%.

MCK - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, McKesson Corporation reported a gross profit of 4.04B and revenue of 96.30B. Therefore, the gross margin over that period was 4.2%.

ADBE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Adobe Inc reported an operating income of 2.24B and revenue of 6.62B, resulting in an operating margin of 33.8%.

MCK - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, McKesson Corporation reported an operating income of 2.09B and revenue of 96.30B, resulting in an operating margin of 2.2%.

ADBE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Adobe Inc reported a net income of 1.71B and revenue of 6.62B, resulting in a net margin of 25.9%.

MCK - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, McKesson Corporation reported a net income of 1.68B and revenue of 96.30B, resulting in a net margin of 1.8%.

Frequently Asked Questions

Can I hold both ADBE and MCK in my portfolio?

ADBE and MCK have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADBE or MCK?

ADBE has higher volatility (16.64%) compared to MCK (6.47%). In terms of maximum drawdown, ADBE dropped -79.89% vs MCK's -82.84%.

Which has better risk-adjusted returns?

MCK currently has the higher Sharpe Ratio (0.27 vs -1.45), 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.