BORR vs. SPY
BORR (Borr Drilling Ltd) is a stock, while SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 5 years, BORR returned 23.38%/yr vs 12.94%/yr for SPY. At a 0.26 correlation, their price movements are largely independent.
Performance
BORR vs. SPY - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with BORR having a 10.67% return and SPY slightly lower at 10.45%.
BORR
- 1D
- 3.00%
- 1M
- -2.62%
- 6M
- 6.70%
- YTD
- 10.67%
- 1Y
- 117.56%
- 3Y*
- -15.48%
- 5Y*
- 23.38%
- 10Y*
- —
SPY
- 1D
- -0.77%
- 1M
- 1.26%
- 6M
- 8.34%
- YTD
- 10.45%
- 1Y
- 21.46%
- 3Y*
- 20.07%
- 5Y*
- 12.94%
- 10Y*
- 15.08%
BORR vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BORR Borr Drilling Ltd | 10.67% | 4.15% | -44.49% | 48.09% | 141.26% | 26.50% | -91.00% | -26.12% | -54.21% |
SPY State Street SPDR S&P 500 ETF | 10.45% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -7.21% |
Correlation
The correlation between BORR and SPY is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since May 22, 2018 | 0.26 |
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Return for Risk
BORR vs. SPY — Risk / Return Rank
BORR
SPY
BORR vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Borr Drilling Ltd (BORR) and State Street SPDR S&P 500 ETF (SPY). 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.
| BORR | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.31 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.15 | 2.43 | +0.73 |
| Martin ratioReturn relative to average drawdown | 8.83 | 10.57 | -1.75 |
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Drawdowns
BORR vs. SPY - Drawdown Comparison
The maximum BORR drawdown since its inception was -99.07%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BORR and SPY.
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Drawdown Indicators
| BORR | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.07% | -55.19% | -43.88% |
Max Drawdown (1Y)Largest decline over 1 year | -37.52% | -8.88% | -28.64% |
Max Drawdown (3Y)Largest decline over 3 years | -80.90% | -18.76% | -62.14% |
Max Drawdown (5Y)Largest decline over 5 years | -80.90% | -24.50% | -56.40% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -91.20% | -1.12% | -90.08% |
Average DrawdownAverage peak-to-trough decline | -88.81% | -9.02% | -79.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.40% | 2.03% | +11.37% |
Volatility
BORR vs. SPY - Volatility Comparison
Borr Drilling Ltd (BORR) has a higher volatility of 12.63% compared to State Street SPDR S&P 500 ETF (SPY) at 4.26%. This indicates that BORR's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BORR | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.63% | 4.26% | +8.37% |
Volatility (6M)Calculated over the trailing 6-month period | 37.55% | 10.01% | +27.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.46% | 12.60% | +47.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.12% | 17.17% | +54.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 118.12% | 17.93% | +100.19% |
Dividends
BORR vs. SPY - Dividend Comparison
BORR has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.00%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BORR Borr Drilling Ltd | 0.00% | 0.50% | 7.69% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.00% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
BORR and SPY have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BORR has higher volatility (12.63%) compared to SPY (4.26%). In terms of maximum drawdown, BORR dropped -99.07% vs SPY's -55.19%.
BORR currently has the higher Sharpe Ratio (1.96 vs 1.71), 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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