HRTG vs. SAP
HRTG (Heritage Insurance Holdings, Inc.) and SAP (SAP SE) are both stocks. HRTG operates in Insurance - Property & Casualty (Financial Services), while SAP operates in Software - Application (Technology). Over the past 10 years, HRTG returned 7.50%/yr vs 9.59%/yr for SAP. At a 0.18 correlation, their price movements are largely independent.
Performance
HRTG vs. SAP - Performance Comparison
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Returns By Period
In the year-to-date period, HRTG achieves a -23.27% return, which is significantly higher than SAP's -31.24% return. Over the past 10 years, HRTG has underperformed SAP with an annualized return of 7.50%, while SAP has yielded a comparatively higher 9.59% annualized return.
HRTG
- 1D
- 0.58%
- 1M
- 1.95%
- YTD
- -23.27%
- 6M
- -22.80%
- 1Y
- -5.99%
- 3Y*
- 71.00%
- 5Y*
- 22.01%
- 10Y*
- 7.50%
SAP
- 1D
- 0.33%
- 1M
- 2.09%
- YTD
- -31.24%
- 6M
- -31.78%
- 1Y
- -44.64%
- 3Y*
- 8.04%
- 5Y*
- 4.34%
- 10Y*
- 9.59%
HRTG vs. SAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HRTG Heritage Insurance Holdings, Inc. | -23.27% | 141.82% | 85.58% | 262.22% | -68.58% | -40.09% | -21.80% | -8.50% | -17.06% | 16.94% |
SAP SAP SE | -31.24% | -0.48% | 61.27% | 52.30% | -24.64% | 9.22% | -1.28% | 36.43% | -10.04% | 31.25% |
Correlation
The correlation between HRTG and SAP is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since May 23, 2014 | 0.18 |
Fundamentals
HRTG:
$690.12M
SAP:
$191.76B
HRTG:
$6.53
SAP:
€6.13
HRTG:
3.44
SAP:
23.16
HRTG:
0.02
SAP:
0.49
HRTG:
0.82
SAP:
4.46
HRTG:
1.33
SAP:
3.70
HRTG:
$848.47M
SAP:
€37.34B
HRTG:
$333.64M
SAP:
€27.51B
HRTG:
$285.21M
SAP:
€12.97B
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Return for Risk
HRTG vs. SAP — Risk / Return Rank
HRTG
SAP
HRTG vs. SAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Heritage Insurance Holdings, Inc. (HRTG) and SAP SE (SAP). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HRTG | SAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.20 | ||
| Sortino ratioReturn per unit of downside risk | +2.17 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 0.75 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | -0.94 | +0.76 |
| Martin ratioReturn relative to average drawdown | -0.40 | -1.58 | +1.18 |
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Drawdowns
HRTG vs. SAP - Drawdown Comparison
The maximum HRTG drawdown since its inception was -94.36%, which is greater than SAP's maximum drawdown of -87.91%. Use the drawdown chart below to compare losses from any high point for HRTG and SAP.
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Drawdown Indicators
| HRTG | SAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.36% | -87.91% | -6.45% |
Max Drawdown (1Y)Largest decline over 1 year | -32.95% | -47.71% | +14.76% |
Max Drawdown (3Y)Largest decline over 3 years | -43.90% | -47.71% | +3.81% |
Max Drawdown (5Y)Largest decline over 5 years | -84.89% | -47.71% | -37.18% |
Max Drawdown (10Y)Largest decline over 10 years | -92.21% | -51.31% | -40.90% |
Current DrawdownCurrent decline from peak | -27.91% | -46.45% | +18.54% |
Average DrawdownAverage peak-to-trough decline | -46.51% | -28.24% | -18.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.92% | 28.29% | -13.37% |
Volatility
HRTG vs. SAP - Volatility Comparison
The current volatility for Heritage Insurance Holdings, Inc. (HRTG) is 10.07%, while SAP SE (SAP) has a volatility of 14.54%. This indicates that HRTG experiences smaller price fluctuations and is considered to be less risky than SAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HRTG | SAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.07% | 14.54% | -4.47% |
Volatility (6M)Calculated over the trailing 6-month period | 37.66% | 30.61% | +7.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.07% | 34.27% | +22.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.35% | 28.76% | +42.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.93% | 28.37% | +29.56% |
Dividends
HRTG vs. SAP - Dividend Comparison
HRTG has not paid dividends to shareholders, while SAP's dividend yield for the trailing twelve months is around 1.78%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HRTG Heritage Insurance Holdings, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 6.67% | 4.08% | 2.37% | 1.81% | 1.63% | 1.33% | 1.47% | 0.23% |
SAP SAP SE | 1.78% | 1.05% | 0.97% | 1.41% | 2.05% | 1.56% | 1.31% | 1.27% | 1.73% | 0.87% | 1.08% | 1.11% |
Financials
HRTG vs. SAP - Financials Comparison
This section allows you to compare key financial metrics between Heritage Insurance Holdings, Inc. and SAP SE. 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
HRTG vs. SAP - Profitability Comparison
HRTG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Heritage Insurance Holdings, Inc. reported a gross profit of 0.00 and revenue of 212.66M. Therefore, the gross margin over that period was 0.0%.
SAP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, SAP SE reported a gross profit of 6.97B and revenue of 9.56B. Therefore, the gross margin over that period was 73.0%.
HRTG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Heritage Insurance Holdings, Inc. reported an operating income of 50.82M and revenue of 212.66M, resulting in an operating margin of 23.9%.
SAP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, SAP SE reported an operating income of 2.75B and revenue of 9.56B, resulting in an operating margin of 28.8%.
HRTG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Heritage Insurance Holdings, Inc. reported a net income of 36.48M and revenue of 212.66M, resulting in a net margin of 17.2%.
SAP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, SAP SE reported a net income of 1.93B and revenue of 9.56B, resulting in a net margin of 20.2%.
Frequently Asked Questions
HRTG and SAP have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SAP has higher volatility (14.54%) compared to HRTG (10.07%). In terms of maximum drawdown, HRTG dropped -94.36% vs SAP's -87.91%.
HRTG currently has the higher Sharpe Ratio (-0.11 vs -1.31), 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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