ATI vs. CARR

Last updated Jun 3, 2026

ATI (Allegheny Technologies Incorporated) and CARR (Carrier Global Corporation) are both stocks. Both are in the Industrials sector — ATI in Metal Fabrication, CARR in Building Products & Equipment. Over the past 5 years, ATI returned 49.62%/yr vs 9.33%/yr for CARR. At a 0.41 correlation, their price movements are largely independent.

Performance

ATI vs. CARR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allegheny Technologies Incorporated (ATI) and Carrier Global Corporation (CARR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ATI achieves a 55.52% return, which is significantly higher than CARR's 26.69% return.

ATI

• 1D: -0.28%
• 1M: 14.96%
• YTD: 55.52%
• 6M: 80.90%
• 1Y: 120.97%
• 3Y*: 66.34%
• 5Y*: 49.62%
• 10Y*: 29.95%

CARR

• 1D: 2.01%
• 1M: -1.42%
• YTD: 26.69%
• 6M: 24.38%
• 1Y: -3.89%
• 3Y*: 16.91%
• 5Y*: 9.33%
• 10Y*: —

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

ATI vs. CARR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ATI Allegheny Technologies Incorporated	55.52%	108.50%	21.05%	52.28%	87.45%	-5.01%	110.15%
CARR Carrier Global Corporation	26.69%	-21.57%	20.26%	41.47%	-22.68%	45.31%	124.99%

Correlation

The correlation between ATI and CARR is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (All Time) Calculated using the full available price history since Apr 6, 2020	0.41

Fundamentals

EPS ATI : $4.02 CARR : $1.55
PE Ratio ATI : 44.41 CARR : 42.98
PEG Ratio ATI : 1.91 CARR : 0.63
PS Ratio ATI : 4.11 CARR : 2.59
Total Revenue (TTM) ATI : $4.59B CARR : $21.87B
Gross Profit (TTM) ATI : $1.04B CARR : $5.43B
EBITDA (TTM) ATI : $773.10M CARR : $3.15B

Return for Risk

ATI vs. CARR — Risk / Return Rank

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

ATI

ATI Risk / Return Rank: 91
ATI Sharpe Ratio Rank: 94
ATI Sortino Ratio Rank: 89
ATI Omega Ratio Rank: 92
ATI Calmar Ratio Rank: 91
ATI Martin Ratio Rank: 90

CARR

CARR Risk / Return Rank: 34
CARR Sharpe Ratio Rank: 35
CARR Sortino Ratio Rank: 32
CARR Omega Ratio Rank: 32
CARR Calmar Ratio Rank: 35
CARR Martin Ratio Rank: 37

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.

ATI vs. CARR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allegheny Technologies Incorporated (ATI) and Carrier Global Corporation (CARR). 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.

	ATI	CARR	Difference
Sharpe ratio Return per unit of total volatility	2.92	-0.11	+3.04
Sortino ratio Return per unit of downside risk	3.15	0.08	+3.07
Omega ratio Gain probability vs. loss probability	1.48	1.01	+0.47
Calmar ratio Return relative to maximum drawdown	4.90	-0.14	+5.04
Martin ratio Return relative to average drawdown	12.26	-0.21	+12.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ATI vs. CARR - Sharpe Ratio Comparison

The current ATI Sharpe Ratio is 2.92, which is higher than the CARR Sharpe Ratio of -0.11. The chart below compares the historical Sharpe Ratios of ATI and CARR, 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

	ATI	CARR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.92	-0.11	+3.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.16	0.30	+0.87
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.80	-0.68

Drawdowns

ATI vs. CARR - Drawdown Comparison

The maximum ATI drawdown since its inception was -94.72%, which is greater than CARR's maximum drawdown of -40.82%. Use the drawdown chart below to compare losses from any high point for ATI and CARR.

Drawdown Indicators

	ATI	CARR	Difference
Max Drawdown Largest peak-to-trough decline	-94.72%	-40.82%	-53.90%
Max Drawdown (1Y) Largest decline over 1 year	-25.31%	-37.38%	+12.07%
Max Drawdown (3Y) Largest decline over 3 years	-38.02%	-37.91%	-0.11%
Max Drawdown (5Y) Largest decline over 5 years	-43.08%	-40.82%	-2.26%
Max Drawdown (10Y) Largest decline over 10 years	-82.43%	—	—
Current Drawdown Current decline from peak	-0.28%	-17.47%	+17.19%
Average Drawdown Average peak-to-trough decline	-60.68%	-14.21%	-46.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.12%	23.97%	-13.85%

Volatility

ATI vs. CARR - Volatility Comparison

Allegheny Technologies Incorporated (ATI) has a higher volatility of 12.04% compared to Carrier Global Corporation (CARR) at 11.22%. This indicates that ATI's price experiences larger fluctuations and is considered to be riskier than CARR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ATI	CARR	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.04%	11.22%	+0.82%
Volatility (6M) Calculated over the trailing 6-month period	28.93%	26.65%	+2.28%
Volatility (1Y) Calculated over the trailing 1-year period	41.63%	34.34%	+7.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.97%	31.70%	+11.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.51%	33.51%	+18.00%

Dividends

ATI vs. CARR - Dividend Comparison

ATI has not paid dividends to shareholders, while CARR's dividend yield for the trailing twelve months is around 1.74%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATI Allegheny Technologies Incorporated	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.51%	5.51%
CARR Carrier Global Corporation	1.74%	1.70%	1.16%	1.30%	1.54%	0.94%	0.74%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

ATI vs. CARR - Profitability Comparison

The chart below illustrates the profitability comparison between Allegheny Technologies Incorporated and Carrier Global Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ATI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Allegheny Technologies Incorporated reported a gross profit of 262.90M and revenue of 1.15B. Therefore, the gross margin over that period was 22.8%.

CARR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Carrier Global Corporation reported a gross profit of 1.24B and revenue of 5.34B. Therefore, the gross margin over that period was 23.3%.

ATI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Allegheny Technologies Incorporated reported an operating income of 163.80M and revenue of 1.15B, resulting in an operating margin of 14.2%.

CARR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Carrier Global Corporation reported an operating income of 259.00M and revenue of 5.34B, resulting in an operating margin of 4.9%.

ATI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Allegheny Technologies Incorporated reported a net income of 118.20M and revenue of 1.15B, resulting in a net margin of 10.3%.

CARR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Carrier Global Corporation reported a net income of 238.00M and revenue of 5.34B, resulting in a net margin of 4.5%.

Frequently Asked Questions

Can I hold both ATI and CARR in my portfolio?

ATI and CARR have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ATI or CARR?

ATI has higher volatility (12.04%) compared to CARR (11.22%). In terms of maximum drawdown, ATI dropped -94.72% vs CARR's -40.82%.

Which has better risk-adjusted returns?

ATI currently has the higher Sharpe Ratio (2.92 vs -0.11), 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.