CROX vs. ONON
CROX (Crocs, Inc.) and ONON (On Holding AG) are both stocks. Both operate in the Footwear & Accessories industry within the Consumer Cyclical sector. Over the past 3 years, CROX returned 6.16%/yr vs 0.24%/yr for ONON. Their 0.51 correlation means they have sometimes moved together and sometimes differently.
Performance
CROX vs. ONON - Performance Comparison
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Returns By Period
In the year-to-date period, CROX achieves a 49.68% return, which is significantly higher than ONON's -22.03% return.
CROX
- 1D
- 3.52%
- 1M
- 2.18%
- 6M
- 52.54%
- YTD
- 49.68%
- 1Y
- 31.79%
- 3Y*
- 6.16%
- 5Y*
- -1.18%
- 10Y*
- 27.82%
- ALL TIME*
- 11.04%
ONON
- 1D
- -2.32%
- 1M
- -1.60%
- 6M
- -19.91%
- YTD
- -22.03%
- 1Y
- -22.94%
- 3Y*
- 0.24%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
CROX Crocs, Inc. | $148.57M | $138.42M | $140.14M |
ONON On Holding AG | $154.56M | $145.47M | $202.60M |
CROX vs. ONON - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CROX Crocs, Inc. | 49.68% | -21.92% | 17.26% | -13.85% | -15.43% | -14.17% |
ONON On Holding AG | -22.03% | -15.14% | 103.08% | 57.17% | -54.62% | 6.81% |
Correlation
The correlation between CROX and ONON is 0.43, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.43 |
Correlation (3Y) Balances recent behavior with more history. | 0.43 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | 0.51 |
The correlation between CROX and ONON has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.
Fundamentals
CROX:
$6.36B
ONON:
$12.08B
CROX:
$11.49
ONON:
CHF 0.75
CROX:
11.14
ONON:
38.77
CROX:
0.23
ONON:
0.56
CROX:
1.63
ONON:
3.12
CROX:
4.64
ONON:
5.55
CROX:
$4.05B
ONON:
CHF 3.13B
CROX:
$2.33B
ONON:
CHF 2.00B
CROX:
$803.31M
ONON:
CHF 422.52M
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Return for Risk
CROX vs. ONON — Risk / Return Rank
CROX
ONON
CROX vs. ONON - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Crocs, Inc. (CROX) and On Holding AG (ONON). 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.
| CROX | ONON | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.09 | ||
| Sortino ratioReturn per unit of downside risk | +1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.93 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.94 | -0.69 | +1.63 |
| Martin ratioReturn relative to average drawdown | 1.67 | -1.27 | +2.94 |
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Drawdowns
CROX vs. ONON - Drawdown Comparison
The maximum CROX drawdown since its inception was -98.74%, which is greater than ONON's maximum drawdown of -68.90%. Use the drawdown chart below to compare losses from any high point for CROX and ONON.
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Drawdown Indicators
| CROX | ONON | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.74% | -68.90% | -29.84% |
Max Drawdown (1Y)Largest decline over 1 year | -30.19% | -37.03% | +6.84% |
Max Drawdown (3Y)Largest decline over 3 years | -54.04% | -49.89% | -4.15% |
Max Drawdown (5Y)Largest decline over 5 years | -73.86% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -75.18% | — | — |
Current DrawdownCurrent decline from peak | -29.11% | -43.04% | +13.93% |
Average DrawdownAverage peak-to-trough decline | -61.08% | -36.16% | -24.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.03% | 19.99% | -2.96% |
Volatility
CROX vs. ONON - Volatility Comparison
Crocs, Inc. (CROX) has a higher volatility of 12.53% compared to On Holding AG (ONON) at 11.03%. This indicates that CROX's price experiences larger fluctuations and is considered to be riskier than ONON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CROX | ONON | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.53% | 11.03% | +1.50% |
Volatility (6M)Calculated over the trailing 6-month period | 34.08% | 32.47% | +1.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.56% | 46.03% | +7.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.25% | 56.79% | -1.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.03% | 56.79% | -0.76% |
Dividends
CROX vs. ONON - Dividend Comparison
Neither CROX nor ONON has paid dividends to shareholders.
Financials
CROX vs. ONON - Financials Comparison
This section allows you to compare key financial metrics between Crocs, Inc. and On Holding AG. 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
CROX vs. ONON - Profitability Comparison
CROX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Crocs, Inc. reported a gross profit of 700.71M and revenue of 1.18B. Therefore, the gross margin over that period was 59.4%.
ONON - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, On Holding AG reported a gross profit of 546.22M and revenue of 850.46M. Therefore, the gross margin over that period was 64.2%.
CROX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Crocs, Inc. reported an operating income of 285.68M and revenue of 1.18B, resulting in an operating margin of 24.2%.
ONON - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, On Holding AG reported an operating income of 120.02M and revenue of 850.46M, resulting in an operating margin of 14.1%.
CROX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Crocs, Inc. reported a net income of 204.89M and revenue of 1.18B, resulting in a net margin of 17.4%.
ONON - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, On Holding AG reported a net income of 105.60M and revenue of 850.46M, resulting in a net margin of 12.4%.
Frequently Asked Questions
CROX and ONON have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CROX has higher volatility (12.53%) compared to ONON (11.03%). In terms of maximum drawdown, CROX dropped -98.74% vs ONON's -68.90%.
CROX currently has the higher Sharpe Ratio (0.53 vs -0.56), 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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