FORM vs. ^GSPC

Last updated Jun 3, 2026

FORM (FormFactor, Inc.) is a stock, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, FORM returned 32.72%/yr vs 13.75%/yr for ^GSPC. A 0.52 correlation means they provide meaningful diversification when combined.

Performance

FORM vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FormFactor, Inc. (FORM) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FORM achieves a 124.29% return, which is significantly higher than ^GSPC's 11.16% return. Over the past 10 years, FORM has outperformed ^GSPC with an annualized return of 32.72%, while ^GSPC has yielded a comparatively lower 13.75% annualized return.

FORM

• 1D: 8.73%
• 1M: -8.92%
• YTD: 124.29%
• 6M: 123.25%
• 1Y: 316.76%
• 3Y*: 58.37%
• 5Y*: 30.30%
• 10Y*: 32.72%

^GSPC

• 1D: 0.13%
• 1M: 5.25%
• YTD: 11.16%
• 6M: 11.43%
• 1Y: 28.20%
• 3Y*: 21.12%
• 5Y*: 12.66%
• 10Y*: 13.75%

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

FORM vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FORM FormFactor, Inc.	124.29%	26.77%	5.49%	87.63%	-51.38%	6.28%	65.65%	84.32%	-9.97%	39.73%
^GSPC S&P 500 Index	11.16%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Correlation

The correlation between FORM and ^GSPC is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jun 13, 2003	0.52

The correlation between FORM and ^GSPC has been stable across timeframes, ranging from 0.51 to 0.60 - a consistent structural relationship.

Return for Risk

FORM vs. ^GSPC — Risk / Return Rank

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

FORM

FORM Risk / Return Rank: 97
FORM Sharpe Ratio Rank: 98
FORM Sortino Ratio Rank: 95
FORM Omega Ratio Rank: 94
FORM Calmar Ratio Rank: 98
FORM Martin Ratio Rank: 98

^GSPC

^GSPC Risk / Return Rank: 79
^GSPC Sharpe Ratio Rank: 76
^GSPC Sortino Ratio Rank: 76
^GSPC Omega Ratio Rank: 77
^GSPC Calmar Ratio Rank: 79
^GSPC Martin Ratio Rank: 88

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.

FORM vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FormFactor, Inc. (FORM) and S&P 500 Index (^GSPC). 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.

	FORM	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	4.68	2.39	+2.29
Sortino ratio Return per unit of downside risk	4.08	3.25	+0.82
Omega ratio Gain probability vs. loss probability	1.56	1.43	+0.13
Calmar ratio Return relative to maximum drawdown	12.37	3.16	+9.21
Martin ratio Return relative to average drawdown	29.55	14.61	+14.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FORM vs. ^GSPC - Sharpe Ratio Comparison

The current FORM Sharpe Ratio is 4.68, which is higher than the ^GSPC Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of FORM and ^GSPC, 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

	FORM	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.68	2.39	+2.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.75	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.76	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.47	-0.30

Drawdowns

FORM vs. ^GSPC - Drawdown Comparison

The maximum FORM drawdown since its inception was -92.36%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for FORM and ^GSPC.

Drawdown Indicators

	FORM	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-92.36%	-56.78%	-35.58%
Max Drawdown (1Y) Largest decline over 1 year	-25.80%	-9.10%	-16.70%
Max Drawdown (3Y) Largest decline over 3 years	-62.75%	-18.90%	-43.85%
Max Drawdown (5Y) Largest decline over 5 years	-62.75%	-25.43%	-37.32%
Max Drawdown (10Y) Largest decline over 10 years	-64.42%	-33.92%	-30.50%
Current Drawdown Current decline from peak	-19.33%	0.00%	-19.33%
Average Drawdown Average peak-to-trough decline	-51.52%	-10.72%	-40.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.80%	1.97%	+8.83%

Volatility

FORM vs. ^GSPC - Volatility Comparison

FormFactor, Inc. (FORM) has a higher volatility of 24.66% compared to S&P 500 Index (^GSPC) at 2.84%. This indicates that FORM's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FORM	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.66%	2.84%	+21.82%
Volatility (6M) Calculated over the trailing 6-month period	48.37%	8.98%	+39.39%
Volatility (1Y) Calculated over the trailing 1-year period	68.20%	11.87%	+56.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.61%	16.90%	+38.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.12%	18.07%	+35.05%

Frequently Asked Questions

Can I hold both FORM and ^GSPC in my portfolio?

FORM and ^GSPC have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FORM or ^GSPC?

FORM has higher volatility (24.66%) compared to ^GSPC (2.84%). In terms of maximum drawdown, FORM dropped -92.36% vs ^GSPC's -56.78%.

Which has better risk-adjusted returns?

FORM currently has the higher Sharpe Ratio (4.68 vs 2.39), 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.