AFYA vs. WMG

Last updated Jun 4, 2026

AFYA (Afya Limited) and WMG (Warner Music Group Corp.) are both stocks. AFYA operates in Education & Training Services (Consumer Defensive), while WMG operates in Entertainment (Communication Services). Over the past 5 years, AFYA returned -9.02%/yr vs -1.48%/yr for WMG. At a 0.23 correlation, their price movements are largely independent.

Performance

AFYA vs. WMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Afya Limited (AFYA) and Warner Music Group Corp. (WMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AFYA achieves a -1.74% return, which is significantly higher than WMG's -2.92% return.

AFYA

• 1D: 0.69%
• 1M: 3.72%
• YTD: -1.74%
• 6M: -0.26%
• 1Y: -16.02%
• 3Y*: 6.83%
• 5Y*: -9.02%
• 10Y*: —

WMG

• 1D: -4.48%
• 1M: 5.24%
• YTD: -2.92%
• 6M: 6.87%
• 1Y: 16.33%
• 3Y*: 8.98%
• 5Y*: -1.48%
• 10Y*: —

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

AFYA vs. WMG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
AFYA Afya Limited	-1.74%	-1.70%	-27.59%	40.40%	-0.57%	-37.91%	19.96%
WMG Warner Music Group Corp.	-2.92%	1.36%	-11.48%	4.44%	-17.21%	15.31%	27.16%

Correlation

The correlation between AFYA and WMG is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020	0.23

Fundamentals

EPS AFYA : $8.30 WMG : $1.16
PE Ratio AFYA : 1.75 WMG : 25.37
PEG Ratio AFYA : 0.04 WMG : 2.22
PS Ratio AFYA : 0.35 WMG : 1.61
Total Revenue (TTM) AFYA : $3.77B WMG : $7.13B
Gross Profit (TTM) AFYA : $2.42B WMG : $3.17B
EBITDA (TTM) AFYA : $1.57B WMG : $1.12B

Return for Risk

AFYA vs. WMG — Risk / Return Rank

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

AFYA

AFYA Risk / Return Rank: 19
AFYA Sharpe Ratio Rank: 16
AFYA Sortino Ratio Rank: 17
AFYA Omega Ratio Rank: 17
AFYA Calmar Ratio Rank: 22
AFYA Martin Ratio Rank: 25

WMG

WMG Risk / Return Rank: 54
WMG Sharpe Ratio Rank: 58
WMG Sortino Ratio Rank: 52
WMG Omega Ratio Rank: 51
WMG Calmar Ratio Rank: 53
WMG Martin Ratio Rank: 55

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.

AFYA vs. WMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Afya Limited (AFYA) and Warner Music Group Corp. (WMG). 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.

	AFYA	WMG	Difference
Sharpe ratio Return per unit of total volatility	-0.57	0.53	-1.10
Sortino ratio Return per unit of downside risk	-0.62	0.93	-1.55
Omega ratio Gain probability vs. loss probability	0.92	1.12	-0.20
Calmar ratio Return relative to maximum drawdown	-0.56	0.55	-1.10
Martin ratio Return relative to average drawdown	-0.85	1.38	-2.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AFYA vs. WMG - Sharpe Ratio Comparison

The current AFYA Sharpe Ratio is -0.57, which is lower than the WMG Sharpe Ratio of 0.53. The chart below compares the historical Sharpe Ratios of AFYA and WMG, 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

	AFYA	WMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.57	0.53	-1.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.23	-0.04	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	-0.13	0.05	-0.18

Drawdowns

AFYA vs. WMG - Drawdown Comparison

The maximum AFYA drawdown since its inception was -72.09%, which is greater than WMG's maximum drawdown of -54.04%. Use the drawdown chart below to compare losses from any high point for AFYA and WMG.

Drawdown Indicators

	AFYA	WMG	Difference
Max Drawdown Largest peak-to-trough decline	-72.09%	-54.04%	-18.05%
Max Drawdown (1Y) Largest decline over 1 year	-28.86%	-30.04%	+1.18%
Max Drawdown (3Y) Largest decline over 3 years	-40.41%	-33.06%	-7.35%
Max Drawdown (5Y) Largest decline over 5 years	-67.60%	-54.04%	-13.56%
Current Drawdown Current decline from peak	-52.54%	-34.11%	-18.43%
Average Drawdown Average peak-to-trough decline	-43.14%	-27.01%	-16.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.95%	11.90%	+7.05%

Volatility

AFYA vs. WMG - Volatility Comparison

The current volatility for Afya Limited (AFYA) is 7.20%, while Warner Music Group Corp. (WMG) has a volatility of 13.87%. This indicates that AFYA experiences smaller price fluctuations and is considered to be less risky than WMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AFYA	WMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.20%	13.87%	-6.67%
Volatility (6M) Calculated over the trailing 6-month period	21.83%	25.71%	-3.88%
Volatility (1Y) Calculated over the trailing 1-year period	28.31%	31.12%	-2.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.19%	34.74%	+5.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.19%	34.94%	+12.25%

Dividends

AFYA vs. WMG - Dividend Comparison

AFYA's dividend yield for the trailing twelve months is around 4.52%, more than WMG's 2.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
AFYA Afya Limited	4.52%	1.51%	0.00%	0.00%	0.00%	0.00%	0.00%
WMG Warner Music Group Corp.	2.58%	2.41%	2.26%	1.84%	1.77%	1.25%	0.63%

Financials

AFYA vs. WMG - Profitability Comparison

The chart below illustrates the profitability comparison between Afya Limited and Warner Music Group Corp. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AFYA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Afya Limited reported a gross profit of 685.00M and revenue of 993.76M. Therefore, the gross margin over that period was 68.9%.

WMG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Warner Music Group Corp. reported a gross profit of 802.00M and revenue of 1.73B. Therefore, the gross margin over that period was 46.3%.

AFYA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Afya Limited reported an operating income of 385.21M and revenue of 993.76M, resulting in an operating margin of 38.8%.

WMG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Warner Music Group Corp. reported an operating income of 264.00M and revenue of 1.73B, resulting in an operating margin of 15.2%.

AFYA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Afya Limited reported a net income of 252.21M and revenue of 993.76M, resulting in a net margin of 25.4%.

WMG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Warner Music Group Corp. reported a net income of 183.00M and revenue of 1.73B, resulting in a net margin of 10.6%.

Frequently Asked Questions

Can I hold both AFYA and WMG in my portfolio?

AFYA and WMG have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AFYA or WMG?

WMG has higher volatility (13.87%) compared to AFYA (7.20%). In terms of maximum drawdown, AFYA dropped -72.09% vs WMG's -54.04%.

Which has better risk-adjusted returns?

WMG currently has the higher Sharpe Ratio (0.53 vs -0.57), 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.