JOYY vs. CPA
JOYY (JOYY Inc) and CPA (Copa Holdings, S.A.) are both stocks. JOYY operates in Internet Content & Information (Communication Services), while CPA operates in Airlines (Industrials). Over the past 5 years, JOYY returned 8.37%/yr vs 20.15%/yr for CPA. At a 0.26 correlation, their price movements are largely independent.
Performance
JOYY vs. CPA - Performance Comparison
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Returns By Period
In the year-to-date period, JOYY achieves a 15.76% return, which is significantly lower than CPA's 27.85% return.
JOYY
- 1D
- -1.70%
- 1M
- 6.39%
- 6M
- 11.21%
- YTD
- 15.76%
- 1Y
- 41.83%
- 3Y*
- 33.87%
- 5Y*
- 8.37%
- 10Y*
- —
CPA
- 1D
- 0.47%
- 1M
- 6.28%
- 6M
- 17.80%
- YTD
- 27.85%
- 1Y
- 43.50%
- 3Y*
- 17.34%
- 5Y*
- 20.15%
- 10Y*
- 12.36%
JOYY vs. CPA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
JOYY JOYY Inc | 15.76% | 63.93% | 5.42% | 30.70% | -25.95% | -41.43% | 52.97% | -3.42% |
CPA Copa Holdings, S.A. | 27.85% | 45.60% | -11.54% | 32.38% | 0.62% | 7.03% | -27.90% | 0.53% |
Correlation
The correlation between JOYY and CPA is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Dec 30, 2019 | 0.26 |
The correlation between JOYY and CPA shifts across timeframes, from 0.11 (1 year) to 0.27 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
JOYY:
$3.65B
CPA:
$6.21B
JOYY:
$4.37
CPA:
$17.17
JOYY:
16.16
CPA:
8.77
JOYY:
0.23
CPA:
0.04
JOYY:
1.68
CPA:
1.65
JOYY:
0.55
CPA:
2.16
JOYY:
$2.19B
CPA:
$3.77B
JOYY:
$773.31M
CPA:
$1.23B
JOYY:
$190.18M
CPA:
$1.20B
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Return for Risk
JOYY vs. CPA — Risk / Return Rank
JOYY
CPA
JOYY vs. CPA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JOYY Inc (JOYY) and Copa Holdings, S.A. (CPA). 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.
| JOYY | CPA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.21 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | 1.35 | +0.69 |
| Martin ratioReturn relative to average drawdown | 4.76 | 3.51 | +1.25 |
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Drawdowns
JOYY vs. CPA - Drawdown Comparison
The maximum JOYY drawdown since its inception was -83.52%, which is greater than CPA's maximum drawdown of -78.99%. Use the drawdown chart below to compare losses from any high point for JOYY and CPA.
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Drawdown Indicators
| JOYY | CPA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.52% | -78.99% | -4.53% |
Max Drawdown (1Y)Largest decline over 1 year | -20.97% | -29.22% | +8.25% |
Max Drawdown (3Y)Largest decline over 3 years | -33.72% | -33.47% | -0.25% |
Max Drawdown (5Y)Largest decline over 5 years | -64.08% | -42.52% | -21.56% |
Max Drawdown (10Y)Largest decline over 10 years | — | -78.94% | — |
Current DrawdownCurrent decline from peak | -38.63% | -4.20% | -34.43% |
Average DrawdownAverage peak-to-trough decline | -55.89% | -27.68% | -28.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.99% | 11.27% | -2.28% |
Volatility
JOYY vs. CPA - Volatility Comparison
The current volatility for JOYY Inc (JOYY) is 7.01%, while Copa Holdings, S.A. (CPA) has a volatility of 12.79%. This indicates that JOYY experiences smaller price fluctuations and is considered to be less risky than CPA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JOYY | CPA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.01% | 12.79% | -5.78% |
Volatility (6M)Calculated over the trailing 6-month period | 26.27% | 35.01% | -8.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.23% | 41.22% | -6.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.50% | 36.37% | +23.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.00% | 44.83% | +16.17% |
Dividends
JOYY vs. CPA - Dividend Comparison
JOYY's dividend yield for the trailing twelve months is around 6.80%, more than CPA's 4.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CPA Copa Holdings, S.A. | 4.41% | 5.34% | 7.33% | 3.09% | 0.00% | 0.00% | 1.04% | 2.41% | 4.42% | 1.88% | 2.25% | 6.96% |
JOYY JOYY Inc | 6.80% | 4.35% | 0.00% | 3.07% | 6.46% | 4.48% | 1.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
JOYY vs. CPA - Financials Comparison
This section allows you to compare key financial metrics between JOYY Inc and Copa Holdings, S.A.. 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
JOYY vs. CPA - Profitability Comparison
JOYY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, JOYY Inc reported a gross profit of 189.30M and revenue of 555.70M. Therefore, the gross margin over that period was 34.1%.
CPA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Copa Holdings, S.A. reported a gross profit of 377.63M and revenue of 1.05B. Therefore, the gross margin over that period was 35.9%.
JOYY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, JOYY Inc reported an operating income of 7.08M and revenue of 555.70M, resulting in an operating margin of 1.3%.
CPA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Copa Holdings, S.A. reported an operating income of 258.64M and revenue of 1.05B, resulting in an operating margin of 24.6%.
JOYY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, JOYY Inc reported a net income of 50.67M and revenue of 555.70M, resulting in a net margin of 9.1%.
CPA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Copa Holdings, S.A. reported a net income of 212.47M and revenue of 1.05B, resulting in a net margin of 20.2%.
Frequently Asked Questions
JOYY and CPA have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CPA has higher volatility (12.79%) compared to JOYY (7.01%). In terms of maximum drawdown, JOYY dropped -83.52% vs CPA's -78.99%.
JOYY currently has the higher Sharpe Ratio (1.25 vs 0.97), 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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