BA.L vs. THEON.AS
BA.L (BAE Systems plc) and THEON.AS (Theon International PLC) are both stocks. Both operate in the Aerospace & Defense industry within the Industrials sector. Over the past year, BA.L returned 2.85% vs 6.01% for THEON.AS. At a 0.30 correlation, their price movements are largely independent.
Performance
BA.L vs. THEON.AS - Performance Comparison
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Different Trading Currencies
BA.L is traded in GBp, while THEON.AS is traded in EUR. To make them comparable, the THEON.AS 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 15.01% return, which is significantly lower than THEON.AS's 16.25% return.
BA.L
- 1D
- 1.01%
- 1M
- 0.84%
- YTD
- 15.01%
- 6M
- 16.57%
- 1Y
- 2.85%
- 3Y*
- 30.30%
- 5Y*
- 32.98%
- 10Y*
- 19.00%
THEON.AS
- 1D
- 0.52%
- 1M
- 4.31%
- YTD
- 16.25%
- 6M
- -2.84%
- 1Y
- 6.01%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BA.L vs. THEON.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BA.L BAE Systems plc | 15.01% | 52.12% | -1.89% |
THEON.AS Theon International PLC | 16.25% | 126.89% | 26.51% |
Correlation
The correlation between BA.L and THEON.AS is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2024 | 0.30 |
The correlation between BA.L and THEON.AS shifts across timeframes, from 0.30 (all time) to 0.41 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BA.L vs. THEON.AS — Risk / Return Rank
BA.L
THEON.AS
BA.L vs. THEON.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BAE Systems plc (BA.L) and Theon International PLC (THEON.AS). 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.
| BA.L | THEON.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.05 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.13 | 0.09 | +0.04 |
| Martin ratioReturn relative to average drawdown | 0.30 | 0.17 | +0.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BA.L | THEON.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.10 | 0.06 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.28 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.76 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 1.31 | -0.79 |
Drawdowns
BA.L vs. THEON.AS - Drawdown Comparison
The maximum BA.L drawdown since its inception was -43.67%, which is greater than THEON.AS's maximum drawdown of -38.29%. Use the drawdown chart below to compare losses from any high point for BA.L and THEON.AS.
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Drawdown Indicators
| BA.L | THEON.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.67% | -38.29% | -5.38% |
Max Drawdown (1Y)Largest decline over 1 year | -21.30% | -33.06% | +11.76% |
Max Drawdown (3Y)Largest decline over 3 years | -21.30% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.30% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -37.80% | — | — |
Current DrawdownCurrent decline from peak | -15.43% | -14.62% | -0.81% |
Average DrawdownAverage peak-to-trough decline | -12.73% | -13.82% | +1.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.64% | 18.05% | -8.41% |
Volatility
BA.L vs. THEON.AS - Volatility Comparison
The current volatility for BAE Systems plc (BA.L) is 8.80%, while Theon International PLC (THEON.AS) has a volatility of 10.90%. This indicates that BA.L experiences smaller price fluctuations and is considered to be less risky than THEON.AS 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 | THEON.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.80% | 10.90% | -2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 23.59% | 38.09% | -14.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.97% | 53.21% | -23.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.82% | 51.39% | -25.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.07% | 51.39% | -26.32% |
Dividends
BA.L vs. THEON.AS - Dividend Comparison
BA.L's dividend yield for the trailing twelve months is around 1.86%, more than THEON.AS's 1.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BA.L BAE Systems plc | 1.86% | 1.99% | 2.69% | 2.53% | 2.99% | 4.40% | 4.75% | 4.00% | 4.79% | 3.75% | 3.57% | 4.14% |
THEON.AS Theon International PLC | 1.04% | 1.22% | 1.57% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
BA.L vs. THEON.AS - Financials Comparison
This section allows you to compare key financial metrics between BAE Systems plc and Theon International PLC. 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 THEON.AS have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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