AKO-B vs. PAAS

Last updated Jun 4, 2026

AKO-B (Embotelladora Andina S.A) and PAAS (Pan American Silver Corp.) are both stocks. AKO-B operates in Beverages - Non-Alcoholic (Consumer Defensive), while PAAS operates in Silver (Basic Materials). Over the past 10 years, AKO-B returned 11.00%/yr vs 14.59%/yr for PAAS. At a 0.10 correlation, their price movements are largely independent.

Performance

AKO-B vs. PAAS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Embotelladora Andina S.A (AKO-B) and Pan American Silver Corp. (PAAS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AKO-B achieves a 5.24% return, which is significantly higher than PAAS's 2.11% return. Over the past 10 years, AKO-B has underperformed PAAS with an annualized return of 11.00%, while PAAS has yielded a comparatively higher 14.59% annualized return.

AKO-B

• 1D: -4.69%
• 1M: 9.77%
• YTD: 5.24%
• 6M: 9.54%
• 1Y: 17.31%
• 3Y*: 30.33%
• 5Y*: 27.44%
• 10Y*: 11.00%

PAAS

• 1D: -4.73%
• 1M: 3.23%
• YTD: 2.11%
• 6M: 19.04%
• 1Y: 102.99%
• 3Y*: 53.12%
• 5Y*: 12.48%
• 10Y*: 14.59%

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

AKO-B vs. PAAS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AKO-B Embotelladora Andina S.A	5.24%	62.01%	31.46%	12.77%	34.54%	-7.56%	-9.30%	-20.16%	-19.96%	33.88%
PAAS Pan American Silver Corp.	2.11%	160.40%	26.61%	2.50%	-33.00%	-26.78%	46.88%	63.86%	-5.30%	3.86%

Correlation

The correlation between AKO-B and PAAS is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (10Y) Calculated over the trailing 10-year period	0.10
Correlation (All Time) Calculated using the full available price history since Apr 8, 1997	0.10

Fundamentals

Market Cap AKO-B : $4.30B PAAS : $22.19B
EPS AKO-B : $1.95K PAAS : $3.21
PE Ratio AKO-B : 0.01 PAAS : 16.37
PEG Ratio AKO-B : 0.00 PAAS : 0.09
PS Ratio AKO-B : 0.00 PAAS : 5.19
PB Ratio AKO-B : 0.00 PAAS : 3.02
Total Revenue (TTM) AKO-B : $3.42T PAAS : $4.02B
Gross Profit (TTM) AKO-B : $1.34T PAAS : $1.76B
EBITDA (TTM) AKO-B : $620.88B PAAS : $2.14B

Return for Risk

AKO-B vs. PAAS — Risk / Return Rank

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

AKO-B

AKO-B Risk / Return Rank: 55
AKO-B Sharpe Ratio Rank: 58
AKO-B Sortino Ratio Rank: 53
AKO-B Omega Ratio Rank: 51
AKO-B Calmar Ratio Rank: 55
AKO-B Martin Ratio Rank: 58

PAAS

PAAS Risk / Return Rank: 83
PAAS Sharpe Ratio Rank: 86
PAAS Sortino Ratio Rank: 80
PAAS Omega Ratio Rank: 80
PAAS Calmar Ratio Rank: 83
PAAS Martin Ratio Rank: 85

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.

AKO-B vs. PAAS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Embotelladora Andina S.A (AKO-B) and Pan American Silver Corp. (PAAS). 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.

	AKO-B	PAAS	Difference
Sharpe ratio Return per unit of total volatility	0.52	1.91	-1.39
Sortino ratio Return per unit of downside risk	0.97	2.35	-1.38
Omega ratio Gain probability vs. loss probability	1.11	1.31	-0.20
Calmar ratio Return relative to maximum drawdown	0.66	3.25	-2.58
Martin ratio Return relative to average drawdown	1.64	8.94	-7.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AKO-B vs. PAAS - Sharpe Ratio Comparison

The current AKO-B Sharpe Ratio is 0.52, which is lower than the PAAS Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of AKO-B and PAAS, 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

	AKO-B	PAAS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.52	1.91	-1.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.26	+0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	0.30	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.17	+0.02

Drawdowns

AKO-B vs. PAAS - Drawdown Comparison

The maximum AKO-B drawdown since its inception was -75.32%, smaller than the maximum PAAS drawdown of -85.10%. Use the drawdown chart below to compare losses from any high point for AKO-B and PAAS.

Drawdown Indicators

	AKO-B	PAAS	Difference
Max Drawdown Largest peak-to-trough decline	-75.32%	-85.10%	+9.78%
Max Drawdown (1Y) Largest decline over 1 year	-26.20%	-31.90%	+5.70%
Max Drawdown (3Y) Largest decline over 3 years	-32.27%	-31.90%	-0.37%
Max Drawdown (5Y) Largest decline over 5 years	-32.27%	-60.02%	+27.75%
Max Drawdown (10Y) Largest decline over 10 years	-63.01%	-66.74%	+3.73%
Current Drawdown Current decline from peak	-11.92%	-23.00%	+11.08%
Average Drawdown Average peak-to-trough decline	-32.26%	-41.65%	+9.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.57%	11.56%	-0.99%

Volatility

AKO-B vs. PAAS - Volatility Comparison

The current volatility for Embotelladora Andina S.A (AKO-B) is 13.42%, while Pan American Silver Corp. (PAAS) has a volatility of 19.51%. This indicates that AKO-B experiences smaller price fluctuations and is considered to be less risky than PAAS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AKO-B	PAAS	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.42%	19.51%	-6.09%
Volatility (6M) Calculated over the trailing 6-month period	24.76%	43.94%	-19.18%
Volatility (1Y) Calculated over the trailing 1-year period	33.78%	54.18%	-20.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.75%	47.69%	-7.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.98%	49.48%	-7.50%

Dividends

AKO-B vs. PAAS - Dividend Comparison

AKO-B's dividend yield for the trailing twelve months is around 3.98%, more than PAAS's 1.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AKO-B Embotelladora Andina S.A	3.98%	4.81%	6.14%	8.89%	14.66%	7.26%	5.63%	4.65%	2.89%	2.36%	2.35%	2.85%
PAAS Pan American Silver Corp.	1.18%	0.89%	1.98%	2.45%	2.75%	1.36%	0.64%	0.59%	0.96%	0.64%	0.33%	4.23%

Financials

AKO-B vs. PAAS - Profitability Comparison

The chart below illustrates the profitability comparison between Embotelladora Andina S.A and Pan American Silver Corp. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AKO-B - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Embotelladora Andina S.A reported a gross profit of 393.07B and revenue of 958.49B. Therefore, the gross margin over that period was 41.0%.

PAAS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Pan American Silver Corp. reported a gross profit of 608.00M and revenue of 1.15B. Therefore, the gross margin over that period was 52.7%.

AKO-B - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Embotelladora Andina S.A reported an operating income of 147.46B and revenue of 958.49B, resulting in an operating margin of 15.4%.

PAAS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Pan American Silver Corp. reported an operating income of 560.00M and revenue of 1.15B, resulting in an operating margin of 48.5%.

AKO-B - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Embotelladora Andina S.A reported a net income of 102.93B and revenue of 958.49B, resulting in a net margin of 10.7%.

PAAS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Pan American Silver Corp. reported a net income of 457.00M and revenue of 1.15B, resulting in a net margin of 39.6%.

Frequently Asked Questions

Can I hold both AKO-B and PAAS in my portfolio?

AKO-B and PAAS have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AKO-B or PAAS?

PAAS has higher volatility (19.51%) compared to AKO-B (13.42%). In terms of maximum drawdown, AKO-B dropped -75.32% vs PAAS's -85.10%.

Which has better risk-adjusted returns?

PAAS currently has the higher Sharpe Ratio (1.91 vs 0.52), 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.