MRCY vs. CODA

Last updated Jun 4, 2026

MRCY (Mercury Systems, Inc.) and CODA (Coda Octopus Group, Inc.) are both stocks. Both operate in the Aerospace & Defense industry within the Industrials sector. Over the past 10 years, MRCY returned 17.98%/yr vs 25.86%/yr for CODA. At a 0.09 correlation, their price movements are largely independent.

Performance

MRCY vs. CODA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Mercury Systems, Inc. (MRCY) and Coda Octopus Group, Inc. (CODA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MRCY achieves a 52.84% return, which is significantly higher than CODA's 35.16% return. Over the past 10 years, MRCY has underperformed CODA with an annualized return of 17.98%, while CODA has yielded a comparatively higher 25.86% annualized return.

MRCY

• 1D: -1.13%
• 1M: 42.10%
• YTD: 52.84%
• 6M: 58.89%
• 1Y: 119.49%
• 3Y*: 39.59%
• 5Y*: 10.98%
• 10Y*: 17.98%

CODA

• 1D: -2.78%
• 1M: 9.11%
• YTD: 35.16%
• 6M: 47.80%
• 1Y: 95.79%
• 3Y*: 6.05%
• 5Y*: 7.65%
• 10Y*: 25.86%

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

MRCY vs. CODA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MRCY Mercury Systems, Inc.	52.84%	73.83%	14.85%	-18.26%	-18.74%	-37.47%	27.42%	46.14%	-7.91%	69.92%
CODA Coda Octopus Group, Inc.	35.16%	18.77%	30.07%	-12.24%	-14.25%	27.19%	-24.85%	43.81%	21.96%	94.00%

Correlation

The correlation between MRCY and CODA is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (10Y) Calculated over the trailing 10-year period	0.12
Correlation (All Time) Calculated using the full available price history since Oct 23, 2008	0.09

The correlation between MRCY and CODA shifts across timeframes, from 0.09 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap MRCY : $6.63B CODA : $141.93M
EPS MRCY : -$0.24 CODA : $0.37
PS Ratio MRCY : 6.83 CODA : 5.05
Total Revenue (TTM) MRCY : $966.95M CODA : $28.06M
Gross Profit (TTM) MRCY : $277.35M CODA : $18.60M
EBITDA (TTM) MRCY : -$12.94M CODA : $6.92M

Return for Risk

MRCY vs. CODA — Risk / Return Rank

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

MRCY

MRCY Risk / Return Rank: 86
MRCY Sharpe Ratio Rank: 89
MRCY Sortino Ratio Rank: 84
MRCY Omega Ratio Rank: 87
MRCY Calmar Ratio Rank: 86
MRCY Martin Ratio Rank: 86

CODA

CODA Risk / Return Rank: 79
CODA Sharpe Ratio Rank: 82
CODA Sortino Ratio Rank: 80
CODA Omega Ratio Rank: 75
CODA Calmar Ratio Rank: 80
CODA Martin Ratio Rank: 78

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.

MRCY vs. CODA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mercury Systems, Inc. (MRCY) and Coda Octopus Group, Inc. (CODA). 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.

	MRCY	CODA	Difference
Sharpe ratio Return per unit of total volatility	2.15	1.54	+0.61
Sortino ratio Return per unit of downside risk	2.69	2.27	+0.42
Omega ratio Gain probability vs. loss probability	1.39	1.27	+0.13
Calmar ratio Return relative to maximum drawdown	3.73	2.75	+0.98
Martin ratio Return relative to average drawdown	9.32	6.12	+3.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MRCY vs. CODA - Sharpe Ratio Comparison

The current MRCY Sharpe Ratio is 2.15, which is higher than the CODA Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of MRCY and CODA, 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

	MRCY	CODA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	1.54	+0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.16	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.38	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.05	+0.15

Drawdowns

MRCY vs. CODA - Drawdown Comparison

The maximum MRCY drawdown since its inception was -95.95%, roughly equal to the maximum CODA drawdown of -99.44%. Use the drawdown chart below to compare losses from any high point for MRCY and CODA.

Drawdown Indicators

	MRCY	CODA	Difference
Max Drawdown Largest peak-to-trough decline	-95.95%	-99.44%	+3.49%
Max Drawdown (1Y) Largest decline over 1 year	-32.19%	-35.02%	+2.83%
Max Drawdown (3Y) Largest decline over 3 years	-39.07%	-47.98%	+8.91%
Max Drawdown (5Y) Largest decline over 5 years	-62.43%	-51.82%	-10.61%
Max Drawdown (10Y) Largest decline over 10 years	-71.73%	-76.78%	+5.05%
Current Drawdown Current decline from peak	-1.13%	-33.74%	+32.61%
Average Drawdown Average peak-to-trough decline	-53.80%	-61.15%	+7.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.87%	15.71%	-2.84%

Volatility

MRCY vs. CODA - Volatility Comparison

Mercury Systems, Inc. (MRCY) has a higher volatility of 16.48% compared to Coda Octopus Group, Inc. (CODA) at 12.11%. This indicates that MRCY's price experiences larger fluctuations and is considered to be riskier than CODA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MRCY	CODA	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.48%	12.11%	+4.37%
Volatility (6M) Calculated over the trailing 6-month period	42.71%	47.01%	-4.30%
Volatility (1Y) Calculated over the trailing 1-year period	55.79%	63.79%	-8.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.72%	48.88%	-3.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.86%	69.02%	-25.16%

Dividends

MRCY vs. CODA - Dividend Comparison

Neither MRCY nor CODA has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

MRCY vs. CODA - Profitability Comparison

The chart below illustrates the profitability comparison between Mercury Systems, Inc. and Coda Octopus Group, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MRCY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Mercury Systems, Inc. reported a gross profit of 69.05M and revenue of 235.76M. Therefore, the gross margin over that period was 29.3%.

CODA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Coda Octopus Group, Inc. reported a gross profit of 4.37M and revenue of 6.71M. Therefore, the gross margin over that period was 65.1%.

MRCY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Mercury Systems, Inc. reported an operating income of 5.23M and revenue of 235.76M, resulting in an operating margin of 2.2%.

CODA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Coda Octopus Group, Inc. reported an operating income of 1.01M and revenue of 6.71M, resulting in an operating margin of 15.1%.

MRCY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Mercury Systems, Inc. reported a net income of -2.86M and revenue of 235.76M, resulting in a net margin of -1.2%.

CODA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Coda Octopus Group, Inc. reported a net income of 930.72K and revenue of 6.71M, resulting in a net margin of 13.9%.

Frequently Asked Questions

Can I hold both MRCY and CODA in my portfolio?

MRCY and CODA have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MRCY or CODA?

MRCY has higher volatility (16.48%) compared to CODA (12.11%). In terms of maximum drawdown, MRCY dropped -95.95% vs CODA's -99.44%.

Which has better risk-adjusted returns?

MRCY currently has the higher Sharpe Ratio (2.15 vs 1.54), 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.