CENX vs. AA

Last updated Apr 1, 2026

Compare and contrast key facts about Century Aluminum Company (CENX) and Alcoa Corporation (AA).

Performance

CENX vs. AA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Century Aluminum Company (CENX) and Alcoa Corporation (AA). The values are adjusted to include any dividend payments, if applicable.

CENX vs. AA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CENX Century Aluminum Company	49.80%	115.04%	50.08%	48.41%	-50.60%	50.14%	46.77%	2.80%	-62.78%	129.44%
AA Alcoa Corporation	25.03%	42.46%	12.43%	-24.33%	-23.12%	159.05%	7.16%	-19.07%	-50.66%	91.84%

Fundamentals

Market Cap CENX : $5.75B AA : $17.31B
EPS CENX : $0.12 AA : $4.50
PE Ratio CENX : 485.74 AA : 14.74
PEG Ratio CENX : 1.40 AA : 0.04
PS Ratio CENX : 2.25 AA : 1.35
PB Ratio CENX : 6.61 AA : 2.82
Total Revenue (TTM) CENX : $2.53B AA : $12.74B
Gross Profit (TTM) CENX : $264.10M AA : $1.13B
EBITDA (TTM) CENX : $165.90M AA : $1.88B

Returns By Period

In the year-to-date period, CENX achieves a 49.80% return, which is significantly higher than AA's 25.03% return.

CENX

• 1D: 10.22%
• 1M: 13.83%
• YTD: 49.80%
• 6M: 99.90%
• 1Y: 216.22%
• 3Y*: 80.38%
• 5Y*: 27.75%
• 10Y*: 23.41%

AA

• 1D: 4.92%
• 1M: 7.02%
• YTD: 25.03%
• 6M: 102.55%
• 1Y: 119.91%
• 3Y*: 17.35%
• 5Y*: 16.63%
• 10Y*: —

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

Return for Risk

CENX vs. AA — Risk / Return Rank

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

CENX

CENX Risk / Return Rank: 96
CENX Sharpe Ratio Rank: 97
CENX Sortino Ratio Rank: 94
CENX Omega Ratio Rank: 93
CENX Calmar Ratio Rank: 98
CENX Martin Ratio Rank: 98

AA

AA Risk / Return Rank: 90
AA Sharpe Ratio Rank: 92
AA Sortino Ratio Rank: 89
AA Omega Ratio Rank: 85
AA Calmar Ratio Rank: 92
AA Martin Ratio Rank: 94

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.

CENX vs. AA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Century Aluminum Company (CENX) and Alcoa Corporation (AA). 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.

	CENX	AA	Difference
Sharpe ratio Return per unit of total volatility	3.18	2.13	+1.05
Sortino ratio Return per unit of downside risk	3.41	2.69	+0.73
Omega ratio Gain probability vs. loss probability	1.44	1.33	+0.12
Calmar ratio Return relative to maximum drawdown	8.21	4.43	+3.78
Martin ratio Return relative to average drawdown	23.08	13.84	+9.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CENX vs. AA - Sharpe Ratio Comparison

The current CENX Sharpe Ratio is 3.18, which is higher than the AA Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of CENX and AA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CENX	AA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.18	2.13	+1.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.30	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.23	-0.15

Correlation

The correlation between CENX and AA is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CENX vs. AA - Dividend Comparison

CENX has not paid dividends to shareholders, while AA's dividend yield for the trailing twelve months is around 0.60%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CENX Century Aluminum Company	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
AA Alcoa Corporation	0.60%	0.75%	1.06%	1.18%	0.88%	0.17%	0.00%	0.00%	0.00%	0.00%	0.32%

Drawdowns

CENX vs. AA - Drawdown Comparison

The maximum CENX drawdown since its inception was -98.67%, which is greater than AA's maximum drawdown of -90.90%. Use the drawdown chart below to compare losses from any high point for CENX and AA.

Drawdown Indicators

	CENX	AA	Difference
Max Drawdown Largest peak-to-trough decline	-98.67%	-90.90%	-7.77%
Max Drawdown (1Y) Largest decline over 1 year	-26.34%	-26.82%	+0.48%
Max Drawdown (5Y) Largest decline over 5 years	-82.10%	-75.46%	-6.64%
Max Drawdown (10Y) Largest decline over 10 years	-87.51%	—	—
Current Drawdown Current decline from peak	-26.63%	-27.07%	+0.44%
Average Drawdown Average peak-to-trough decline	-61.39%	-46.62%	-14.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.37%	8.58%	+0.79%

Volatility

CENX vs. AA - Volatility Comparison

Century Aluminum Company (CENX) has a higher volatility of 22.46% compared to Alcoa Corporation (AA) at 18.64%. This indicates that CENX's price experiences larger fluctuations and is considered to be riskier than AA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CENX	AA	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.46%	18.64%	+3.82%
Volatility (6M) Calculated over the trailing 6-month period	50.22%	41.22%	+9.00%
Volatility (1Y) Calculated over the trailing 1-year period	68.52%	56.63%	+11.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.86%	56.11%	+16.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.73%	55.61%	+15.12%

Financials

CENX vs. AA - Profitability Comparison

The chart below illustrates the profitability comparison between Century Aluminum Company and Alcoa Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CENX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Century Aluminum Company reported a gross profit of 90.00M and revenue of 633.70M. Therefore, the gross margin over that period was 14.2%.

AA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Alcoa Corporation reported a gross profit of 0.00 and revenue of 3.45B. Therefore, the gross margin over that period was 0.0%.

CENX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Century Aluminum Company reported an operating income of 40.70M and revenue of 633.70M, resulting in an operating margin of 6.4%.

AA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Alcoa Corporation reported an operating income of 0.00 and revenue of 3.45B, resulting in an operating margin of 0.0%.

CENX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Century Aluminum Company reported a net income of -28.30M and revenue of 633.70M, resulting in a net margin of -4.5%.

AA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Alcoa Corporation reported a net income of 226.00M and revenue of 3.45B, resulting in a net margin of 6.6%.