BA.L vs. CARL-B.CO
BA.L (BAE Systems plc) and CARL-B.CO (Carlsberg A/S) are both stocks. BA.L operates in Aerospace & Defense (Industrials), while CARL-B.CO operates in Beverages - Brewers (Consumer Defensive). Over the past 10 years, BA.L returned 18.87%/yr vs 6.88%/yr for CARL-B.CO. At a 0.21 correlation, their price movements are largely independent.
Performance
BA.L vs. CARL-B.CO - Performance Comparison
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Different Trading Currencies
BA.L is traded in GBp, while CARL-B.CO is traded in DKK. To make them comparable, the CARL-B.CO values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, BA.L achieves a 12.71% return, which is significantly higher than CARL-B.CO's 3.23% return. Over the past 10 years, BA.L has outperformed CARL-B.CO with an annualized return of 18.87%, while CARL-B.CO has yielded a comparatively lower 6.88% annualized return.
BA.L
- 1D
- -1.62%
- 1M
- 3.27%
- YTD
- 12.71%
- 6M
- 13.60%
- 1Y
- 0.36%
- 3Y*
- 28.80%
- 5Y*
- 32.37%
- 10Y*
- 18.87%
CARL-B.CO
- 1D
- -1.07%
- 1M
- 1.13%
- YTD
- 3.23%
- 6M
- 2.65%
- 1Y
- -5.38%
- 3Y*
- -4.41%
- 5Y*
- -2.89%
- 10Y*
- 6.88%
BA.L vs. CARL-B.CO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BA.L BAE Systems plc | 12.71% | 52.12% | 5.88% | 33.31% | 60.92% | 17.57% | -9.28% | 28.43% | -16.75% | 0.30% |
CARL-B.CO Carlsberg A/S | 3.23% | 31.11% | -20.03% | -7.63% | -11.42% | 10.35% | 7.23% | 38.62% | -3.67% | 29.06% |
Correlation
The correlation between BA.L and CARL-B.CO is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2007 | 0.21 |
The correlation between BA.L and CARL-B.CO shifts across timeframes, from -0.07 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BA.L vs. CARL-B.CO — Risk / Return Rank
BA.L
CARL-B.CO
BA.L vs. CARL-B.CO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BAE Systems plc (BA.L) and Carlsberg A/S (CARL-B.CO). 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.
| BA.L | CARL-B.CO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.98 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | -0.28 | +0.43 |
| Martin ratioReturn relative to average drawdown | 0.33 | -0.46 | +0.79 |
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Drawdowns
BA.L vs. CARL-B.CO - Drawdown Comparison
The maximum BA.L drawdown since its inception was -43.67%, smaller than the maximum CARL-B.CO drawdown of -69.34%. Use the drawdown chart below to compare losses from any high point for BA.L and CARL-B.CO.
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Drawdown Indicators
| BA.L | CARL-B.CO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.67% | -69.34% | +25.67% |
Max Drawdown (1Y)Largest decline over 1 year | -21.30% | -20.59% | -0.71% |
Max Drawdown (3Y)Largest decline over 3 years | -21.30% | -38.43% | +17.13% |
Max Drawdown (5Y)Largest decline over 5 years | -21.30% | -41.85% | +20.55% |
Max Drawdown (10Y)Largest decline over 10 years | -37.80% | -41.85% | +4.05% |
Current DrawdownCurrent decline from peak | -17.12% | -20.14% | +3.02% |
Average DrawdownAverage peak-to-trough decline | -12.74% | -15.84% | +3.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.84% | 12.44% | -2.60% |
Volatility
BA.L vs. CARL-B.CO - Volatility Comparison
BAE Systems plc (BA.L) has a higher volatility of 8.48% compared to Carlsberg A/S (CARL-B.CO) at 7.60%. This indicates that BA.L's price experiences larger fluctuations and is considered to be riskier than CARL-B.CO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BA.L | CARL-B.CO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.48% | 7.60% | +0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 23.43% | 17.81% | +5.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.85% | 22.95% | +6.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.82% | 23.89% | +1.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.07% | 22.69% | +2.38% |
Dividends
BA.L vs. CARL-B.CO - Dividend Comparison
BA.L's dividend yield for the trailing twelve months is around 1.90%, less than CARL-B.CO's 3.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BA.L BAE Systems plc | 1.90% | 1.99% | 2.69% | 2.53% | 2.99% | 4.40% | 4.75% | 4.00% | 4.79% | 3.75% | 3.57% | 4.14% |
CARL-B.CO Carlsberg A/S | 3.44% | 3.23% | 3.91% | 3.19% | 2.60% | 1.95% | 2.15% | 1.81% | 2.31% | 1.34% | 1.48% | 1.47% |
Financials
BA.L vs. CARL-B.CO - Financials Comparison
This section allows you to compare key financial metrics between BAE Systems plc and Carlsberg A/S. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
BA.L and CARL-B.CO have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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