METSB.HE vs. STERV.HE

Last updated Jun 5, 2026

METSB.HE (Metsä Board Oyj) and STERV.HE (Stora Enso Oyj R) are both stocks. METSB.HE operates in Packaging & Containers (Consumer Cyclical), while STERV.HE operates in Paper & Paper Products (Basic Materials). Over the past 10 years, METSB.HE returned -2.70%/yr vs 5.69%/yr for STERV.HE. A 0.59 correlation means they provide meaningful diversification when combined.

Performance

METSB.HE vs. STERV.HE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Metsä Board Oyj (METSB.HE) and Stora Enso Oyj R (STERV.HE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, METSB.HE achieves a -7.90% return, which is significantly lower than STERV.HE's -5.26% return. Over the past 10 years, METSB.HE has underperformed STERV.HE with an annualized return of -2.70%, while STERV.HE has yielded a comparatively higher 5.69% annualized return.

METSB.HE

• 1D: -1.44%
• 1M: -7.43%
• YTD: -7.90%
• 6M: -3.83%
• 1Y: -10.88%
• 3Y*: -26.45%
• 5Y*: -18.12%
• 10Y*: -2.70%

STERV.HE

• 1D: 0.48%
• 1M: 3.20%
• YTD: -5.26%
• 6M: -1.53%
• 1Y: 18.06%
• 3Y*: -5.63%
• 5Y*: -5.05%
• 10Y*: 5.69%

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

METSB.HE vs. STERV.HE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
METSB.HE Metsä Board Oyj	-7.90%	-25.30%	-38.95%	-11.43%	6.46%	0.95%	47.08%	19.21%	-26.46%	8.40%
STERV.HE Stora Enso Oyj R	-5.26%	13.08%	-20.97%	0.14%	-15.74%	5.06%	23.56%	34.19%	-21.57%	33.87%

Correlation

The correlation between METSB.HE and STERV.HE is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Sep 4, 2000	0.59

The correlation between METSB.HE and STERV.HE shifts across timeframes, from 0.59 (all time) to 0.78 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

METSB.HE vs. STERV.HE — Risk / Return Rank

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

METSB.HE

METSB.HE Risk / Return Rank: 30
METSB.HE Sharpe Ratio Rank: 31
METSB.HE Sortino Ratio Rank: 28
METSB.HE Omega Ratio Rank: 29
METSB.HE Calmar Ratio Rank: 30
METSB.HE Martin Ratio Rank: 31

STERV.HE

STERV.HE Risk / Return Rank: 57
STERV.HE Sharpe Ratio Rank: 59
STERV.HE Sortino Ratio Rank: 56
STERV.HE Omega Ratio Rank: 53
STERV.HE Calmar Ratio Rank: 59
STERV.HE Martin Ratio Rank: 59

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.

METSB.HE vs. STERV.HE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Metsä Board Oyj (METSB.HE) and Stora Enso Oyj R (STERV.HE). 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.

	METSB.HE	STERV.HE	Difference
Sharpe ratio: Return per unit of total volatility	-0.23	0.51	-0.74
Sortino ratio: Return per unit of downside risk	-0.08	1.08	-1.15
Omega ratio: Gain probability vs. loss probability	0.99	1.12	-0.13
Calmar ratio: Return relative to maximum drawdown	-0.35	0.85	-1.20
Martin ratio: Return relative to average drawdown	-0.63	1.86	-2.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

METSB.HE vs. STERV.HE - Sharpe Ratio Comparison

The current METSB.HE Sharpe Ratio is -0.23, which is lower than the STERV.HE Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of METSB.HE and STERV.HE, 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

	METSB.HE	STERV.HE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.23	0.51	-0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.57	-0.16	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.08	0.18	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	0.10	-0.05

Drawdowns

METSB.HE vs. STERV.HE - Drawdown Comparison

The maximum METSB.HE drawdown since its inception was -96.89%, which is greater than STERV.HE's maximum drawdown of -80.31%. Use the drawdown chart below to compare losses from any high point for METSB.HE and STERV.HE.

Drawdown Indicators

	METSB.HE	STERV.HE	Difference
Max Drawdown Largest peak-to-trough decline	-96.89%	-80.31%	-16.58%
Max Drawdown (1Y) Largest decline over 1 year	-26.32%	-21.54%	-4.78%
Max Drawdown (3Y) Largest decline over 3 years	-67.57%	-45.45%	-22.12%
Max Drawdown (5Y) Largest decline over 5 years	-71.82%	-59.55%	-12.27%
Max Drawdown (10Y) Largest decline over 10 years	-71.82%	-59.55%	-12.27%
Current Drawdown Current decline from peak	-68.50%	-43.64%	-24.86%
Average Drawdown Average peak-to-trough decline	-35.26%	-29.52%	-5.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.33%	9.80%	+4.53%

Volatility

METSB.HE vs. STERV.HE - Volatility Comparison

Metsä Board Oyj (METSB.HE) has a higher volatility of 8.59% compared to Stora Enso Oyj R (STERV.HE) at 4.88%. This indicates that METSB.HE's price experiences larger fluctuations and is considered to be riskier than STERV.HE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	METSB.HE	STERV.HE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.59%	4.88%	+3.71%
Volatility (6M) Calculated over the trailing 6-month period	27.36%	21.92%	+5.44%
Volatility (1Y) Calculated over the trailing 1-year period	39.01%	35.94%	+3.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.82%	32.53%	-0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.90%	31.89%	+1.01%

Dividends

METSB.HE vs. STERV.HE - Dividend Comparison

METSB.HE has not paid dividends to shareholders, while STERV.HE's dividend yield for the trailing twelve months is around 2.50%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
METSB.HE Metsä Board Oyj	0.00%	2.25%	5.89%	8.07%	4.68%	1.16%	1.62%	1.67%	4.10%	2.66%	2.50%	1.75%
STERV.HE Stora Enso Oyj R	2.50%	2.34%	2.06%	4.79%	4.18%	1.86%	1.92%	3.86%	4.07%	2.80%	3.23%	3.58%

Financials

Frequently Asked Questions

Can I hold both METSB.HE and STERV.HE in my portfolio?

METSB.HE and STERV.HE have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.