ALVO vs. HYDR
ALVO (Alvotech) is a stock, while HYDR (Global X Hydrogen ETF) is Alternative Energy Equities fund tracking the Solactive Global Hydrogen Index - Benchmark TR Net. Over the past 3 years, ALVO returned -22.65%/yr vs 6.18%/yr for HYDR. At a 0.17 correlation, their price movements are largely independent.
Performance
ALVO vs. HYDR - Performance Comparison
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Returns By Period
In the year-to-date period, ALVO achieves a -32.16% return, which is significantly lower than HYDR's 59.23% return.
ALVO
- 1D
- -5.95%
- 1M
- 1.75%
- YTD
- -32.16%
- 6M
- -34.22%
- 1Y
- -61.88%
- 3Y*
- -22.65%
- 5Y*
- —
- 10Y*
- —
HYDR
- 1D
- -2.65%
- 1M
- -30.78%
- YTD
- 59.23%
- 6M
- 52.57%
- 1Y
- 140.67%
- 3Y*
- 6.18%
- 5Y*
- —
- 10Y*
- —
ALVO vs. HYDR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ALVO Alvotech | -32.16% | -61.22% | 15.24% | 14.80% | 5.26% |
HYDR Global X Hydrogen ETF | 59.23% | 43.73% | -33.08% | -36.49% | -10.75% |
Correlation
The correlation between ALVO and HYDR is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jun 16, 2022 | 0.17 |
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Return for Risk
ALVO vs. HYDR — Risk / Return Rank
ALVO
HYDR
ALVO vs. HYDR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alvotech (ALVO) and Global X Hydrogen ETF (HYDR). 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.
| ALVO | HYDR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.41 | ||
| Sortino ratioReturn per unit of downside risk | -4.38 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.37 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 4.57 | -5.46 |
| Martin ratioReturn relative to average drawdown | -1.34 | 10.11 | -11.45 |
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Drawdowns
ALVO vs. HYDR - Drawdown Comparison
The maximum ALVO drawdown since its inception was -82.63%, smaller than the maximum HYDR drawdown of -89.28%. Use the drawdown chart below to compare losses from any high point for ALVO and HYDR.
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Drawdown Indicators
| ALVO | HYDR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.63% | -89.28% | +6.65% |
Max Drawdown (1Y)Largest decline over 1 year | -69.42% | -30.99% | -38.43% |
Max Drawdown (3Y)Largest decline over 3 years | -82.63% | -70.32% | -12.31% |
Current DrawdownCurrent decline from peak | -79.85% | -63.44% | -16.41% |
Average DrawdownAverage peak-to-trough decline | -37.66% | -64.12% | +26.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 46.14% | 13.97% | +32.17% |
Volatility
ALVO vs. HYDR - Volatility Comparison
Alvotech (ALVO) has a higher volatility of 31.45% compared to Global X Hydrogen ETF (HYDR) at 16.94%. This indicates that ALVO's price experiences larger fluctuations and is considered to be riskier than HYDR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALVO | HYDR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 31.45% | 16.94% | +14.51% |
Volatility (6M)Calculated over the trailing 6-month period | 49.51% | 38.70% | +10.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.10% | 55.54% | +16.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.56% | 47.51% | +14.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.56% | 47.51% | +14.05% |
Dividends
ALVO vs. HYDR - Dividend Comparison
ALVO has not paid dividends to shareholders, while HYDR's dividend yield for the trailing twelve months is around 2.40%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
ALVO Alvotech | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYDR Global X Hydrogen ETF | 2.40% | 3.82% | 0.40% | 0.00% | 0.00% | 0.06% |
Frequently Asked Questions
ALVO and HYDR have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ALVO has higher volatility (31.45%) compared to HYDR (16.94%). In terms of maximum drawdown, ALVO dropped -82.63% vs HYDR's -89.28%.
HYDR currently has the higher Sharpe Ratio (2.55 vs -0.86), 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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