ELISA.HE vs. NDA-FI.HE

Last updated Jun 5, 2026

ELISA.HE (Elisa Oyj) and NDA-FI.HE (Nordea Bank Abp) are both stocks. ELISA.HE operates in Telecom Services (Communication Services), while NDA-FI.HE operates in Banks - Regional (Financial Services). Over the past 10 years, ELISA.HE returned 5.53%/yr vs 14.16%/yr for NDA-FI.HE. At a 0.30 correlation, their price movements are largely independent.

Performance

ELISA.HE vs. NDA-FI.HE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Elisa Oyj (ELISA.HE) and Nordea Bank Abp (NDA-FI.HE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ELISA.HE achieves a 6.34% return, which is significantly lower than NDA-FI.HE's 7.47% return. Over the past 10 years, ELISA.HE has underperformed NDA-FI.HE with an annualized return of 5.53%, while NDA-FI.HE has yielded a comparatively higher 14.16% annualized return.

ELISA.HE

• 1D: -0.75%
• 1M: -4.40%
• YTD: 6.34%
• 6M: 7.31%
• 1Y: -13.87%
• 3Y*: -5.33%
• 5Y*: -0.37%
• 10Y*: 5.53%

NDA-FI.HE

• 1D: 0.50%
• 1M: 2.89%
• YTD: 7.47%
• 6M: 12.18%
• 1Y: 35.53%
• 3Y*: 28.86%
• 5Y*: 22.51%
• 10Y*: 14.16%

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

ELISA.HE vs. NDA-FI.HE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ELISA.HE Elisa Oyj	6.34%	-4.83%	5.13%	-11.97%	-5.15%	25.36%	-5.93%	42.56%	15.22%	10.77%
NDA-FI.HE Nordea Bank Abp	7.47%	65.26%	1.85%	21.29%	-0.12%	74.49%	-7.85%	9.49%	-22.56%	1.07%

Correlation

The correlation between ELISA.HE and NDA-FI.HE is 0.03, 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	0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Feb 2, 2000	0.30

Over the past year, the correlation between ELISA.HE and NDA-FI.HE has dropped to 0.03 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.

Return for Risk

ELISA.HE vs. NDA-FI.HE — Risk / Return Rank

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

ELISA.HE

ELISA.HE Risk / Return Rank: 13
ELISA.HE Sharpe Ratio Rank: 10
ELISA.HE Sortino Ratio Rank: 12
ELISA.HE Omega Ratio Rank: 12
ELISA.HE Calmar Ratio Rank: 18
ELISA.HE Martin Ratio Rank: 16

NDA-FI.HE

NDA-FI.HE Risk / Return Rank: 84
NDA-FI.HE Sharpe Ratio Rank: 85
NDA-FI.HE Sortino Ratio Rank: 83
NDA-FI.HE Omega Ratio Rank: 79
NDA-FI.HE Calmar Ratio Rank: 83
NDA-FI.HE Martin Ratio Rank: 89

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.

ELISA.HE vs. NDA-FI.HE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Elisa Oyj (ELISA.HE) and Nordea Bank Abp (NDA-FI.HE). 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.

	ELISA.HE	NDA-FI.HE	Difference
Sharpe ratio: Return per unit of total volatility	-0.77	1.77	-2.54
Sortino ratio: Return per unit of downside risk	-0.95	2.53	-3.49
Omega ratio: Gain probability vs. loss probability	0.87	1.30	-0.43
Calmar ratio: Return relative to maximum drawdown	-0.65	3.12	-3.77
Martin ratio: Return relative to average drawdown	-1.18	11.00	-12.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ELISA.HE vs. NDA-FI.HE - Sharpe Ratio Comparison

The current ELISA.HE Sharpe Ratio is -0.77, which is lower than the NDA-FI.HE Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of ELISA.HE and NDA-FI.HE, 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

	ELISA.HE	NDA-FI.HE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.77	1.77	-2.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	0.97	-1.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.56	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.33	-0.11

Drawdowns

ELISA.HE vs. NDA-FI.HE - Drawdown Comparison

The maximum ELISA.HE drawdown since its inception was -92.10%, which is greater than NDA-FI.HE's maximum drawdown of -71.54%. Use the drawdown chart below to compare losses from any high point for ELISA.HE and NDA-FI.HE.

Drawdown Indicators

	ELISA.HE	NDA-FI.HE	Difference
Max Drawdown Largest peak-to-trough decline	-92.10%	-71.54%	-20.56%
Max Drawdown (1Y) Largest decline over 1 year	-21.54%	-11.49%	-10.05%
Max Drawdown (3Y) Largest decline over 3 years	-24.74%	-17.46%	-7.28%
Max Drawdown (5Y) Largest decline over 5 years	-30.01%	-26.08%	-3.93%
Max Drawdown (10Y) Largest decline over 10 years	-30.01%	-55.04%	+25.03%
Current Drawdown Current decline from peak	-20.90%	-3.49%	-17.41%
Average Drawdown Average peak-to-trough decline	-39.01%	-16.96%	-22.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.82%	3.26%	+8.56%

Volatility

ELISA.HE vs. NDA-FI.HE - Volatility Comparison

The current volatility for Elisa Oyj (ELISA.HE) is 4.02%, while Nordea Bank Abp (NDA-FI.HE) has a volatility of 5.04%. This indicates that ELISA.HE experiences smaller price fluctuations and is considered to be less risky than NDA-FI.HE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ELISA.HE	NDA-FI.HE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.02%	5.04%	-1.02%
Volatility (6M) Calculated over the trailing 6-month period	12.24%	15.26%	-3.02%
Volatility (1Y) Calculated over the trailing 1-year period	18.45%	20.27%	-1.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.94%	23.18%	-6.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.71%	25.18%	-5.47%

Dividends

ELISA.HE vs. NDA-FI.HE - Dividend Comparison

ELISA.HE's dividend yield for the trailing twelve months is around 4.47%, less than NDA-FI.HE's 5.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ELISA.HE Elisa Oyj	4.47%	6.23%	5.38%	5.13%	4.14%	3.60%	4.12%	3.55%	4.57%	4.58%	4.53%	3.79%
NDA-FI.HE Nordea Bank Abp	5.93%	5.84%	8.76%	7.13%	6.88%	7.32%	0.00%	9.53%	9.35%	6.44%	6.04%	6.11%

Financials

Frequently Asked Questions

Can I hold both ELISA.HE and NDA-FI.HE in my portfolio?

ELISA.HE and NDA-FI.HE have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.