JPM vs. T

Last updated Jun 9, 2026

JPM (JPMorgan Chase & Co.) and T (AT&T Inc.) are both stocks. JPM operates in Banks - Diversified (Financial Services), while T operates in Telecom Services (Communication Services). Over the past 10 years, JPM returned 20.32%/yr vs 2.86%/yr for T. At a 0.34 correlation, their price movements are largely independent.

Performance

JPM vs. T - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Chase & Co. (JPM) and AT&T Inc. (T). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPM achieves a -2.52% return, which is significantly higher than T's -7.40% return. Over the past 10 years, JPM has outperformed T with an annualized return of 20.32%, while T has yielded a comparatively lower 2.86% annualized return.

JPM

• 1D: -0.40%
• 1M: 2.98%
• YTD: -2.52%
• 6M: -0.35%
• 1Y: 19.35%
• 3Y*: 33.18%
• 5Y*: 16.72%
• 10Y*: 20.32%

T

• 1D: -1.10%
• 1M: -10.57%
• YTD: -7.40%
• 6M: -7.40%
• 1Y: -16.38%
• 3Y*: 18.39%
• 5Y*: 6.60%
• 10Y*: 2.86%

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

JPM vs. T - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPM JPMorgan Chase & Co.	-2.52%	37.27%	44.29%	30.63%	-12.64%	27.75%	-5.53%	47.26%	-6.62%	26.76%
T AT&T Inc.	-7.40%	13.97%	44.08%	-2.74%	5.76%	-8.09%	-21.37%	45.55%	-22.25%	-4.01%

Correlation

The correlation between JPM and T is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Jul 20, 1984	0.34

Over the past year, the correlation between JPM and T has dropped to 0.05 - well below their long-term average of 0.34, suggesting their price drivers have been diverging.

Fundamentals

EPS JPM : $21.08 T : $3.04
PE Ratio JPM : 14.76 T : 7.39
PEG Ratio JPM : 1.63 T : 0.31
PS Ratio JPM : 3.05 T : 1.29
Total Revenue (TTM) JPM : $285.09B T : $125.65B
Gross Profit (TTM) JPM : $173.52B T : $105.41B
EBITDA (TTM) JPM : $81.46B T : $54.70B

Return for Risk

JPM vs. T — Risk / Return Rank

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

JPM

JPM Risk / Return Rank: 66
JPM Sharpe Ratio Rank: 70
JPM Sortino Ratio Rank: 62
JPM Omega Ratio Rank: 62
JPM Calmar Ratio Rank: 66
JPM Martin Ratio Rank: 67

T

T Risk / Return Rank: 11
T Sharpe Ratio Rank: 11
T Sortino Ratio Rank: 12
T Omega Ratio Rank: 13
T Calmar Ratio Rank: 14
T Martin Ratio Rank: 4

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.

JPM vs. T - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Chase & Co. (JPM) and AT&T Inc. (T). 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.

	JPM	T	Difference
Sharpe ratio: Return per unit of total volatility	0.90	-0.75	+1.65
Sortino ratio: Return per unit of downside risk	1.30	-0.98	+2.28
Omega ratio: Gain probability vs. loss probability	1.17	0.89	+0.28
Calmar ratio: Return relative to maximum drawdown	1.26	-0.75	+2.01
Martin ratio: Return relative to average drawdown	2.98	-1.59	+4.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPM vs. T - Sharpe Ratio Comparison

The current JPM Sharpe Ratio is 0.90, which is higher than the T Sharpe Ratio of -0.75. The chart below compares the historical Sharpe Ratios of JPM and T, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JPM	T	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	-0.75	+1.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.28	+0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.12	+0.62
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.38	-0.04

Drawdowns

JPM vs. T - Drawdown Comparison

The maximum JPM drawdown since its inception was -76.16%, which is greater than T's maximum drawdown of -64.15%. Use the drawdown chart below to compare losses from any high point for JPM and T.

Drawdown Indicators

	JPM	T	Difference
Max Drawdown Largest peak-to-trough decline	-76.16%	-64.15%	-12.01%
Max Drawdown (1Y) Largest decline over 1 year	-15.47%	-21.87%	+6.40%
Max Drawdown (3Y) Largest decline over 3 years	-24.42%	-21.87%	-2.55%
Max Drawdown (5Y) Largest decline over 5 years	-38.77%	-32.01%	-6.76%
Max Drawdown (10Y) Largest decline over 10 years	-43.63%	-42.35%	-1.28%
Current Drawdown Current decline from peak	-6.55%	-21.87%	+15.32%
Average Drawdown Average peak-to-trough decline	-17.62%	-15.72%	-1.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.50%	10.34%	-3.84%

Volatility

JPM vs. T - Volatility Comparison

The current volatility for JPMorgan Chase & Co. (JPM) is 6.40%, while AT&T Inc. (T) has a volatility of 7.50%. This indicates that JPM experiences smaller price fluctuations and is considered to be less risky than T based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPM	T	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.40%	7.50%	-1.10%
Volatility (6M) Calculated over the trailing 6-month period	17.38%	17.57%	-0.19%
Volatility (1Y) Calculated over the trailing 1-year period	21.62%	21.98%	-0.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.45%	23.97%	+0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.40%	23.71%	+3.69%

Dividends

JPM vs. T - Dividend Comparison

JPM's dividend yield for the trailing twelve months is around 1.90%, less than T's 4.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPM JPMorgan Chase & Co.	1.90%	1.72%	1.92%	2.38%	2.98%	2.34%	2.83%	2.37%	2.54%	1.91%	2.13%	2.54%
T AT&T Inc.	4.93%	4.47%	4.87%	6.62%	6.66%	8.46%	7.23%	5.22%	7.01%	5.04%	4.51%	5.46%

Financials

Frequently Asked Questions

Can I hold both JPM and T in my portfolio?

JPM and T have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPM or T?

T has higher volatility (7.50%) compared to JPM (6.40%). In terms of maximum drawdown, JPM dropped -76.16% vs T's -64.15%.

Which has better risk-adjusted returns?

JPM currently has the higher Sharpe Ratio (0.90 vs -0.75), 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.