FREY vs. MVST

Last updated Apr 1, 2026

Compare and contrast key facts about FREYR Battery (FREY) and Microvast Holdings, Inc. (MVST).

Performance

FREY vs. MVST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FREYR Battery (FREY) and Microvast Holdings, Inc. (MVST). The values are adjusted to include any dividend payments, if applicable.

FREY vs. MVST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FREY FREYR Battery	-34.28%	158.91%	37.97%	-78.46%	-22.36%	18.31%
MVST Microvast Holdings, Inc.	-46.43%	35.27%	47.86%	-8.50%	-72.97%	-58.96%

Fundamentals

Market Cap FREY : $958.77M MVST : $506.14M
EPS FREY : -$2.15 MVST : -$0.09
PS Ratio FREY : 4.62 MVST : 1.15
PB Ratio FREY : 4.12 MVST : 1.23
Total Revenue (TTM) FREY : $168.46M MVST : $427.52M
Gross Profit (TTM) FREY : $66.78M MVST : $122.11M
EBITDA (TTM) FREY : -$133.32M MVST : -$57.51M

Returns By Period

In the year-to-date period, FREY achieves a -34.28% return, which is significantly higher than MVST's -46.43% return.

FREY

• 1D: -21.89%
• 1M: -28.73%
• YTD: -34.28%
• 6M: 101.38%
• 1Y: 248.41%
• 3Y*: -20.96%
• 5Y*: —
• 10Y*: —

MVST

• 1D: 6.38%
• 1M: -33.04%
• YTD: -46.43%
• 6M: -61.04%
• 1Y: 28.21%
• 3Y*: 6.55%
• 5Y*: -34.53%
• 10Y*: —

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

Return for Risk

FREY vs. MVST — Risk / Return Rank

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

FREY

FREY Risk / Return Rank: 90
FREY Sharpe Ratio Rank: 91
FREY Sortino Ratio Rank: 89
FREY Omega Ratio Rank: 83
FREY Calmar Ratio Rank: 92
FREY Martin Ratio Rank: 92

MVST

MVST Risk / Return Rank: 55
MVST Sharpe Ratio Rank: 52
MVST Sortino Ratio Rank: 62
MVST Omega Ratio Rank: 59
MVST Calmar Ratio Rank: 52
MVST Martin Ratio Rank: 51

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.

FREY vs. MVST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FREYR Battery (FREY) and Microvast Holdings, Inc. (MVST). 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.

	FREY	MVST	Difference
Sharpe ratio Return per unit of total volatility	2.09	0.28	+1.82
Sortino ratio Return per unit of downside risk	2.79	1.23	+1.56
Omega ratio Gain probability vs. loss probability	1.31	1.15	+0.16
Calmar ratio Return relative to maximum drawdown	4.42	0.39	+4.03
Martin ratio Return relative to average drawdown	12.44	0.76	+11.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FREY vs. MVST - Sharpe Ratio Comparison

The current FREY Sharpe Ratio is 2.09, which is higher than the MVST Sharpe Ratio of 0.28. The chart below compares the historical Sharpe Ratios of FREY and MVST, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FREY	MVST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	0.28	+1.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.19	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.15	-0.15	-0.01

Correlation

The correlation between FREY and MVST is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FREY vs. MVST - Dividend Comparison

Neither FREY nor MVST has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

FREY vs. MVST - Drawdown Comparison

The maximum FREY drawdown since its inception was -94.09%, smaller than the maximum MVST drawdown of -99.34%. Use the drawdown chart below to compare losses from any high point for FREY and MVST.

Drawdown Indicators

	FREY	MVST	Difference
Max Drawdown Largest peak-to-trough decline	-94.09%	-99.34%	+5.25%
Max Drawdown (1Y) Largest decline over 1 year	-53.74%	-77.97%	+24.23%
Max Drawdown (5Y) Largest decline over 5 years	—	-98.91%	—
Current Drawdown Current decline from peak	-72.70%	-93.88%	+21.18%
Average Drawdown Average peak-to-trough decline	-60.36%	-62.48%	+2.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.11%	40.16%	-21.05%

Volatility

FREY vs. MVST - Volatility Comparison

The current volatility for FREYR Battery (FREY) is 36.60%, while Microvast Holdings, Inc. (MVST) has a volatility of 46.99%. This indicates that FREY experiences smaller price fluctuations and is considered to be less risky than MVST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FREY	MVST	Difference
Volatility (1M) Calculated over the trailing 1-month period	36.60%	46.99%	-10.39%
Volatility (6M) Calculated over the trailing 6-month period	95.43%	69.44%	+25.99%
Volatility (1Y) Calculated over the trailing 1-year period	119.51%	101.71%	+17.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	99.08%	186.88%	-87.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	99.08%	160.96%	-61.88%

Financials