JPM vs. RY
JPM (JPMorgan Chase & Co.) and RY (Royal Bank of Canada) are both stocks. Both operate in the Banks - Diversified industry within the Financial Services sector. Over the past 10 years, JPM returned 21.02%/yr vs 17.18%/yr for RY. At a 0.48 correlation, their price movements are largely independent.
Performance
JPM vs. RY - Performance Comparison
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Returns By Period
In the year-to-date period, JPM achieves a 0.50% return, which is significantly lower than RY's 18.68% return. Over the past 10 years, JPM has outperformed RY with an annualized return of 21.02%, while RY has yielded a comparatively lower 17.18% annualized return.
JPM
- 1D
- 2.31%
- 1M
- 7.69%
- YTD
- 0.50%
- 6M
- 1.66%
- 1Y
- 23.40%
- 3Y*
- 34.22%
- 5Y*
- 17.82%
- 10Y*
- 21.02%
RY
- 1D
- 0.14%
- 1M
- 8.80%
- YTD
- 18.68%
- 6M
- 21.99%
- 1Y
- 60.93%
- 3Y*
- 33.55%
- 5Y*
- 18.33%
- 10Y*
- 17.18%
JPM vs. RY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPM JPMorgan Chase & Co. | 0.50% | 37.27% | 44.29% | 30.63% | -12.64% | 27.75% | -5.53% | 47.26% | -6.62% | 26.76% |
RY Royal Bank of Canada | 18.68% | 46.29% | 23.80% | 12.72% | -8.00% | 34.11% | 8.42% | 20.17% | -12.88% | 24.95% |
Correlation
The correlation between JPM and RY is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 1995 | 0.48 |
The correlation between JPM and RY shifts across timeframes, from 0.48 (all time) to 0.59 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
JPM:
$896.00B
RY:
$205.02B
JPM:
$21.08
RY:
CA$18.17
JPM:
15.21
RY:
15.35
JPM:
1.68
RY:
2.22
JPM:
3.14
RY:
2.45
JPM:
2.60
RY:
2.21
JPM:
$285.09B
RY:
CA$138.99B
JPM:
$173.52B
RY:
CA$65.64B
JPM:
$81.46B
RY:
CA$30.01B
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Return for Risk
JPM vs. RY — Risk / Return Rank
JPM
RY
JPM vs. RY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Chase & Co. (JPM) and Royal Bank of Canada (RY). 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.
| JPM | RY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.96 | ||
| Sortino ratioReturn per unit of downside risk | -4.27 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.70 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | 1.42 | 5.97 | -4.55 |
| Martin ratioReturn relative to average drawdown | 3.36 | 22.22 | -18.86 |
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Drawdowns
JPM vs. RY - Drawdown Comparison
The maximum JPM drawdown since its inception was -76.16%, which is greater than RY's maximum drawdown of -62.90%. Use the drawdown chart below to compare losses from any high point for JPM and RY.
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Drawdown Indicators
| JPM | RY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.16% | -62.90% | -13.26% |
Max Drawdown (1Y)Largest decline over 1 year | -15.47% | -10.04% | -5.43% |
Max Drawdown (3Y)Largest decline over 3 years | -24.42% | -19.88% | -4.54% |
Max Drawdown (5Y)Largest decline over 5 years | -38.77% | -28.36% | -10.41% |
Max Drawdown (10Y)Largest decline over 10 years | -43.63% | -39.95% | -3.68% |
Current DrawdownCurrent decline from peak | -3.66% | 0.00% | -3.66% |
Average DrawdownAverage peak-to-trough decline | -17.62% | -9.32% | -8.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.54% | 2.69% | +3.85% |
Volatility
JPM vs. RY - Volatility Comparison
JPMorgan Chase & Co. (JPM) has a higher volatility of 6.35% compared to Royal Bank of Canada (RY) at 4.01%. This indicates that JPM's price experiences larger fluctuations and is considered to be riskier than RY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPM | RY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.35% | 4.01% | +2.34% |
Volatility (6M)Calculated over the trailing 6-month period | 16.67% | 11.34% | +5.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.76% | 15.10% | +6.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.46% | 18.00% | +6.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.39% | 19.76% | +7.63% |
Dividends
JPM vs. RY - Dividend Comparison
JPM's dividend yield for the trailing twelve months is around 1.84%, less than RY's 2.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JPM JPMorgan Chase & Co. | 1.84% | 1.72% | 1.92% | 2.38% | 2.98% | 2.34% | 2.83% | 2.37% | 2.54% | 1.91% | 2.13% | 2.54% |
RY Royal Bank of Canada | 2.32% | 2.54% | 3.39% | 4.29% | 4.07% | 3.24% | 3.88% | 3.88% | 4.27% | 3.22% | 3.95% | 5.41% |
Financials
JPM vs. RY - Financials Comparison
This section allows you to compare key financial metrics between JPMorgan Chase & Co. and Royal Bank of Canada. 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
JPM vs. RY - Profitability Comparison
JPM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, JPMorgan Chase & Co. reported a gross profit of 47.33B and revenue of 73.66B. Therefore, the gross margin over that period was 64.3%.
RY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Royal Bank of Canada reported a gross profit of 16.51B and revenue of 33.93B. Therefore, the gross margin over that period was 48.7%.
JPM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, JPMorgan Chase & Co. reported an operating income of 20.48B and revenue of 73.66B, resulting in an operating margin of 27.8%.
RY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Royal Bank of Canada reported an operating income of 7.10B and revenue of 33.93B, resulting in an operating margin of 20.9%.
JPM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, JPMorgan Chase & Co. reported a net income of 16.49B and revenue of 73.66B, resulting in a net margin of 22.4%.
RY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Royal Bank of Canada reported a net income of 5.51B and revenue of 33.93B, resulting in a net margin of 16.2%.
Frequently Asked Questions
JPM and RY have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JPM has higher volatility (6.35%) compared to RY (4.01%). In terms of maximum drawdown, JPM dropped -76.16% vs RY's -62.90%.
RY currently has the higher Sharpe Ratio (3.97 vs 1.01), 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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