FORTUM.HE vs. AGRO

Last updated Jun 5, 2026

FORTUM.HE (Fortum Oyj) and AGRO (Adecoagro S.A.) are both stocks. FORTUM.HE operates in Utilities - Renewable (Utilities), while AGRO operates in Farm Products (Consumer Defensive). Over the past 10 years, FORTUM.HE returned 11.59%/yr vs 1.88%/yr for AGRO. At a 0.15 correlation, their price movements are largely independent.

Performance

FORTUM.HE vs. AGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Fortum Oyj (FORTUM.HE) and Adecoagro S.A. (AGRO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FORTUM.HE is traded in EUR, while AGRO is traded in USD. To make them comparable, the AGRO values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, FORTUM.HE achieves a 18.64% return, which is significantly lower than AGRO's 55.81% return. Over the past 10 years, FORTUM.HE has outperformed AGRO with an annualized return of 11.59%, while AGRO has yielded a comparatively lower 1.88% annualized return.

FORTUM.HE

• 1D: -1.33%
• 1M: -4.10%
• YTD: 18.64%
• 6M: 22.14%
• 1Y: 38.31%
• 3Y*: 30.12%
• 5Y*: 5.08%
• 10Y*: 11.59%

AGRO

• 1D: -0.79%
• 1M: -14.39%
• YTD: 55.81%
• 6M: 45.31%
• 1Y: 34.04%
• 3Y*: 10.07%
• 5Y*: 5.24%
• 10Y*: 1.88%

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

FORTUM.HE vs. AGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FORTUM.HE Fortum Oyj	18.64%	48.24%	13.23%	-9.64%	-38.27%	44.02%	-3.71%	21.90%	22.92%	22.47%
AGRO Adecoagro S.A.	55.81%	-22.77%	-6.61%	34.44%	18.41%	21.39%	-25.45%	22.98%	-29.53%	-12.63%

Correlation

The correlation between FORTUM.HE and AGRO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since Jan 31, 2011	0.15

Return for Risk

FORTUM.HE vs. AGRO — Risk / Return Rank

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

FORTUM.HE

FORTUM.HE Risk / Return Rank: 77
FORTUM.HE Sharpe Ratio Rank: 79
FORTUM.HE Sortino Ratio Rank: 73
FORTUM.HE Omega Ratio Rank: 74
FORTUM.HE Calmar Ratio Rank: 80
FORTUM.HE Martin Ratio Rank: 78

AGRO

AGRO Risk / Return Rank: 66
AGRO Sharpe Ratio Rank: 67
AGRO Sortino Ratio Rank: 65
AGRO Omega Ratio Rank: 61
AGRO Calmar Ratio Rank: 69
AGRO Martin Ratio Rank: 67

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.

FORTUM.HE vs. AGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fortum Oyj (FORTUM.HE) and Adecoagro S.A. (AGRO). 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.

	FORTUM.HE	AGRO	Difference
Sharpe ratio: Return per unit of total volatility	1.37	0.74	+0.64
Sortino ratio: Return per unit of downside risk	1.93	1.37	+0.55
Omega ratio: Gain probability vs. loss probability	1.25	1.16	+0.09
Calmar ratio: Return relative to maximum drawdown	2.74	1.37	+1.37
Martin ratio: Return relative to average drawdown	5.86	2.69	+3.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FORTUM.HE vs. AGRO - Sharpe Ratio Comparison

The current FORTUM.HE Sharpe Ratio is 1.37, which is higher than the AGRO Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of FORTUM.HE and AGRO, 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

	FORTUM.HE	AGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	0.74	+0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	0.13	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.05	+0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.05	+0.37

Drawdowns

FORTUM.HE vs. AGRO - Drawdown Comparison

The maximum FORTUM.HE drawdown since its inception was -64.55%, smaller than the maximum AGRO drawdown of -73.34%. Use the drawdown chart below to compare losses from any high point for FORTUM.HE and AGRO.

Drawdown Indicators

	FORTUM.HE	AGRO	Difference
Max Drawdown Largest peak-to-trough decline	-64.55%	-73.34%	+8.79%
Max Drawdown (1Y) Largest decline over 1 year	-14.13%	-25.00%	+10.87%
Max Drawdown (3Y) Largest decline over 3 years	-22.36%	-42.94%	+20.58%
Max Drawdown (5Y) Largest decline over 5 years	-64.55%	-43.02%	-21.53%
Max Drawdown (10Y) Largest decline over 10 years	-64.55%	-73.01%	+8.46%
Current Drawdown Current decline from peak	-7.91%	-20.94%	+13.03%
Average Drawdown Average peak-to-trough decline	-21.20%	-30.61%	+9.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.57%	12.71%	-6.14%

Volatility

FORTUM.HE vs. AGRO - Volatility Comparison

The current volatility for Fortum Oyj (FORTUM.HE) is 7.24%, while Adecoagro S.A. (AGRO) has a volatility of 13.06%. This indicates that FORTUM.HE experiences smaller price fluctuations and is considered to be less risky than AGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FORTUM.HE	AGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.24%	13.06%	-5.82%
Volatility (6M) Calculated over the trailing 6-month period	22.35%	40.54%	-18.19%
Volatility (1Y) Calculated over the trailing 1-year period	28.16%	46.55%	-18.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.71%	41.91%	-9.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.89%	39.96%	-11.07%

Dividends

FORTUM.HE vs. AGRO - Dividend Comparison

FORTUM.HE's dividend yield for the trailing twelve months is around 3.55%, more than AGRO's 2.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGRO Adecoagro S.A.	2.45%	4.41%	3.63%	2.95%	3.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FORTUM.HE Fortum Oyj	3.55%	7.70%	8.51%	6.97%	7.34%	4.15%	5.58%	5.00%	5.76%	6.67%	7.55%	1.44%

Financials

Frequently Asked Questions

Can I hold both FORTUM.HE and AGRO in my portfolio?

FORTUM.HE and AGRO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.