DNORD.CO vs. NAS.OL

Last updated Jun 4, 2026

DNORD.CO (Dampskibsselskabet Norden A/S) and NAS.OL (Norwegian Air Shuttle ASA) are both stocks. Both are in the Industrials sector — DNORD.CO in Marine Shipping, NAS.OL in Airlines. Over the past 10 years, DNORD.CO returned 19.00%/yr vs -47.72%/yr for NAS.OL. At a 0.21 correlation, their price movements are largely independent.

Performance

DNORD.CO vs. NAS.OL - Performance Comparison

The chart below illustrates the hypothetical performance of a DKK 10,000 investment in Dampskibsselskabet Norden A/S (DNORD.CO) and Norwegian Air Shuttle ASA (NAS.OL). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

DNORD.CO is traded in DKK, while NAS.OL is traded in NOK. To make them comparable, the NAS.OL values have been converted to DKK using the latest available exchange rates.

Returns By Period

In the year-to-date period, DNORD.CO achieves a 24.91% return, which is significantly higher than NAS.OL's -2.61% return. Over the past 10 years, DNORD.CO has outperformed NAS.OL with an annualized return of 19.00%, while NAS.OL has yielded a comparatively lower -47.72% annualized return.

DNORD.CO

• 1D: 1.37%
• 1M: 1.50%
• YTD: 24.91%
• 6M: 18.43%
• 1Y: 60.58%
• 3Y*: 1.02%
• 5Y*: 23.00%
• 10Y*: 19.00%

NAS.OL

• 1D: -11.15%
• 1M: 6.82%
• YTD: -2.61%
• 6M: -2.86%
• 1Y: 25.60%
• 3Y*: 11.60%
• 5Y*: 6.99%
• 10Y*: -47.72%

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

DNORD.CO vs. NAS.OL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DNORD.CO Dampskibsselskabet Norden A/S	24.91%	24.71%	-29.91%	-10.14%	213.63%	61.25%	5.62%	17.88%	-20.73%	5.43%
NAS.OL Norwegian Air Shuttle ASA	-2.61%	67.84%	-2.22%	36.69%	-35.04%	-72.17%	-97.84%	-61.71%	-1.84%	-43.27%

Correlation

The correlation between DNORD.CO and NAS.OL is -0.01, 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	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Aug 29, 2007	0.21

The correlation between DNORD.CO and NAS.OL shifts across timeframes, from -0.01 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DNORD.CO vs. NAS.OL — Risk / Return Rank

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

DNORD.CO

DNORD.CO Risk / Return Rank: 83
DNORD.CO Sharpe Ratio Rank: 84
DNORD.CO Sortino Ratio Rank: 78
DNORD.CO Omega Ratio Rank: 78
DNORD.CO Calmar Ratio Rank: 86
DNORD.CO Martin Ratio Rank: 88

NAS.OL

NAS.OL Risk / Return Rank: 54
NAS.OL Sharpe Ratio Rank: 56
NAS.OL Sortino Ratio Rank: 52
NAS.OL Omega Ratio Rank: 50
NAS.OL Calmar Ratio Rank: 56
NAS.OL Martin Ratio Rank: 56

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.

DNORD.CO vs. NAS.OL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dampskibsselskabet Norden A/S (DNORD.CO) and Norwegian Air Shuttle ASA (NAS.OL). 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.

	DNORD.CO	NAS.OL	Difference
Sharpe ratio Return per unit of total volatility	1.67	0.68	+0.99
Sortino ratio Return per unit of downside risk	2.21	1.23	+0.98
Omega ratio Gain probability vs. loss probability	1.28	1.15	+0.13
Calmar ratio Return relative to maximum drawdown	3.64	1.18	+2.46
Martin ratio Return relative to average drawdown	10.83	2.86	+7.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DNORD.CO vs. NAS.OL - Sharpe Ratio Comparison

The current DNORD.CO Sharpe Ratio is 1.67, which is higher than the NAS.OL Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of DNORD.CO and NAS.OL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DNORD.CO	NAS.OL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	0.68	+0.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.15	+0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	-0.60	+1.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	-0.38	+0.89

Drawdowns

DNORD.CO vs. NAS.OL - Drawdown Comparison

The maximum DNORD.CO drawdown since its inception was -87.57%, smaller than the maximum NAS.OL drawdown of -99.94%. Use the drawdown chart below to compare losses from any high point for DNORD.CO and NAS.OL.

Drawdown Indicators

	DNORD.CO	NAS.OL	Difference
Max Drawdown Largest peak-to-trough decline	-87.57%	-99.94%	+12.37%
Max Drawdown (1Y) Largest decline over 1 year	-16.98%	-21.92%	+4.94%
Max Drawdown (3Y) Largest decline over 3 years	-61.21%	-46.83%	-14.38%
Max Drawdown (5Y) Largest decline over 5 years	-64.28%	-53.16%	-11.12%
Max Drawdown (10Y) Largest decline over 10 years	-64.28%	-99.94%	+35.66%
Current Drawdown Current decline from peak	-22.73%	-99.86%	+77.13%
Average Drawdown Average peak-to-trough decline	-45.03%	-60.23%	+15.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.67%	9.10%	-3.43%

Volatility

DNORD.CO vs. NAS.OL - Volatility Comparison

The current volatility for Dampskibsselskabet Norden A/S (DNORD.CO) is 8.40%, while Norwegian Air Shuttle ASA (NAS.OL) has a volatility of 15.23%. This indicates that DNORD.CO experiences smaller price fluctuations and is considered to be less risky than NAS.OL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DNORD.CO	NAS.OL	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.40%	15.23%	-6.83%
Volatility (6M) Calculated over the trailing 6-month period	30.14%	29.28%	+0.86%
Volatility (1Y) Calculated over the trailing 1-year period	36.98%	37.93%	-0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.89%	46.33%	-1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.02%	80.32%	-39.30%

Dividends

DNORD.CO vs. NAS.OL - Dividend Comparison

DNORD.CO's dividend yield for the trailing twelve months is around 2.58%, less than NAS.OL's 11.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
DNORD.CO Dampskibsselskabet Norden A/S	2.58%	3.97%	7.53%	20.25%	18.66%	5.41%	2.28%	1.87%
NAS.OL Norwegian Air Shuttle ASA	11.54%	5.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both DNORD.CO and NAS.OL in my portfolio?

DNORD.CO and NAS.OL have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.