GRMN vs. CBOE
GRMN (Garmin Ltd.) and CBOE (Cboe Global Markets, Inc.) are both stocks. GRMN operates in Scientific & Technical Instruments (Technology), while CBOE operates in Financial Data & Stock Exchanges (Financial Services). Over the past 10 years, GRMN returned 21.88%/yr vs 17.38%/yr for CBOE. At a 0.19 correlation, their price movements are largely independent.
Performance
GRMN vs. CBOE - Performance Comparison
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Returns By Period
In the year-to-date period, GRMN achieves a 16.41% return, which is significantly higher than CBOE's 12.19% return. Over the past 10 years, GRMN has outperformed CBOE with an annualized return of 21.88%, while CBOE has yielded a comparatively lower 17.38% annualized return.
GRMN
- 1D
- -0.57%
- 1M
- -2.02%
- YTD
- 16.41%
- 6M
- 17.82%
- 1Y
- 15.26%
- 3Y*
- 33.20%
- 5Y*
- 13.00%
- 10Y*
- 21.88%
CBOE
- 1D
- -0.56%
- 1M
- -19.41%
- YTD
- 12.19%
- 6M
- 11.21%
- 1Y
- 27.25%
- 3Y*
- 27.99%
- 5Y*
- 21.30%
- 10Y*
- 17.38%
GRMN vs. CBOE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GRMN Garmin Ltd. | 16.41% | -0.06% | 63.25% | 43.12% | -30.20% | 15.90% | 25.86% | 58.13% | 9.84% | 27.60% |
CBOE Cboe Global Markets, Inc. | 12.19% | 29.96% | 10.74% | 44.37% | -2.16% | 42.23% | -21.17% | 24.16% | -20.60% | 70.49% |
Correlation
The correlation between GRMN and CBOE is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2010 | 0.19 |
The correlation between GRMN and CBOE shifts across timeframes, from -0.10 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
Fundamentals
GRMN:
$45.53B
CBOE:
$29.43B
GRMN:
$8.97
CBOE:
$11.77
GRMN:
26.23
CBOE:
23.83
GRMN:
2.11
CBOE:
0.44
GRMN:
6.10
CBOE:
6.14
GRMN:
4.91
CBOE:
5.48
GRMN:
$7.46B
CBOE:
$4.79B
GRMN:
$4.41B
CBOE:
$2.50B
GRMN:
$2.26B
CBOE:
$1.87B
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Return for Risk
GRMN vs. CBOE — Risk / Return Rank
GRMN
CBOE
GRMN vs. CBOE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Garmin Ltd. (GRMN) and Cboe Global Markets, Inc. (CBOE). 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.
| GRMN | CBOE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.20 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 1.11 | -0.56 |
| Martin ratioReturn relative to average drawdown | 1.20 | 5.44 | -4.24 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GRMN | CBOE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.51 | 1.01 | -0.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.92 | -0.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | 0.69 | +0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.66 | -0.21 |
Drawdowns
GRMN vs. CBOE - Drawdown Comparison
The maximum GRMN drawdown since its inception was -87.71%, which is greater than CBOE's maximum drawdown of -43.23%. Use the drawdown chart below to compare losses from any high point for GRMN and CBOE.
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Drawdown Indicators
| GRMN | CBOE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.71% | -43.23% | -44.48% |
Max Drawdown (1Y)Largest decline over 1 year | -27.97% | -24.69% | -3.28% |
Max Drawdown (3Y)Largest decline over 3 years | -27.97% | -24.69% | -3.28% |
Max Drawdown (5Y)Largest decline over 5 years | -54.63% | -24.69% | -29.94% |
Max Drawdown (10Y)Largest decline over 10 years | -54.63% | -43.23% | -11.40% |
Current DrawdownCurrent decline from peak | -12.07% | -23.40% | +11.33% |
Average DrawdownAverage peak-to-trough decline | -31.53% | -11.40% | -20.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.71% | 5.02% | +7.69% |
Volatility
GRMN vs. CBOE - Volatility Comparison
The current volatility for Garmin Ltd. (GRMN) is 7.87%, while Cboe Global Markets, Inc. (CBOE) has a volatility of 15.60%. This indicates that GRMN experiences smaller price fluctuations and is considered to be less risky than CBOE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GRMN | CBOE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.87% | 15.60% | -7.73% |
Volatility (6M)Calculated over the trailing 6-month period | 22.18% | 23.74% | -1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.12% | 27.02% | +3.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.38% | 23.17% | +7.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.34% | 25.32% | +3.02% |
Dividends
GRMN vs. CBOE - Dividend Comparison
GRMN's dividend yield for the trailing twelve months is around 1.53%, more than CBOE's 1.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBOE Cboe Global Markets, Inc. | 1.03% | 1.08% | 1.21% | 1.18% | 1.56% | 1.38% | 1.68% | 1.12% | 1.19% | 0.83% | 1.30% | 1.36% |
GRMN Garmin Ltd. | 1.53% | 1.70% | 1.44% | 2.27% | 3.10% | 1.92% | 2.01% | 2.30% | 3.32% | 3.42% | 4.21% | 5.41% |
Financials
GRMN vs. CBOE - Financials Comparison
This section allows you to compare key financial metrics between Garmin Ltd. and Cboe Global Markets, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
GRMN vs. CBOE - Profitability Comparison
GRMN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Garmin Ltd. reported a gross profit of 1.04B and revenue of 1.75B. Therefore, the gross margin over that period was 59.4%.
CBOE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Cboe Global Markets, Inc. reported a gross profit of 669.90M and revenue of 1.27B. Therefore, the gross margin over that period was 52.6%.
GRMN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Garmin Ltd. reported an operating income of 431.67M and revenue of 1.75B, resulting in an operating margin of 24.6%.
CBOE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Cboe Global Markets, Inc. reported an operating income of 505.60M and revenue of 1.27B, resulting in an operating margin of 39.7%.
GRMN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Garmin Ltd. reported a net income of 405.08M and revenue of 1.75B, resulting in a net margin of 23.1%.
CBOE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Cboe Global Markets, Inc. reported a net income of 385.70M and revenue of 1.27B, resulting in a net margin of 30.3%.
Frequently Asked Questions
GRMN and CBOE have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CBOE has higher volatility (15.60%) compared to GRMN (7.87%). In terms of maximum drawdown, GRMN dropped -87.71% vs CBOE's -43.23%.
CBOE currently has the higher Sharpe Ratio (1.01 vs 0.51), 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.
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