MSCI vs. INOD

Last updated Jun 9, 2026

MSCI (MSCI Inc.) and INOD (Innodata Inc.) are both stocks. MSCI operates in Financial Data & Stock Exchanges (Financial Services), while INOD operates in Information Technology Services (Technology). Over the past 10 years, MSCI returned 24.26%/yr vs 46.16%/yr for INOD. At a 0.17 correlation, their price movements are largely independent.

Performance

MSCI vs. INOD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MSCI Inc. (MSCI) and Innodata Inc. (INOD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSCI achieves a 5.89% return, which is significantly lower than INOD's 101.75% return. Over the past 10 years, MSCI has underperformed INOD with an annualized return of 24.26%, while INOD has yielded a comparatively higher 46.16% annualized return.

MSCI

• 1D: -2.03%
• 1M: 3.36%
• YTD: 5.89%
• 6M: 13.15%
• 1Y: 7.51%
• 3Y*: 9.71%
• 5Y*: 6.47%
• 10Y*: 24.26%

INOD

• 1D: 0.80%
• 1M: 21.09%
• YTD: 101.75%
• 6M: 78.55%
• 1Y: 100.64%
• 3Y*: 114.06%
• 5Y*: 70.61%
• 10Y*: 46.16%

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

MSCI vs. INOD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MSCI MSCI Inc.	5.89%	-3.17%	7.31%	22.90%	-23.34%	38.14%	74.38%	77.19%	17.95%	62.63%
INOD Innodata Inc.	101.75%	28.92%	385.50%	174.54%	-49.92%	11.70%	364.91%	-24.00%	10.29%	-44.49%

Correlation

The correlation between MSCI and INOD is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Nov 15, 2007	0.17

The correlation between MSCI and INOD shifts across timeframes, from 0.16 (1 year) to 0.26 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap MSCI : $44.26B INOD : $3.66B
EPS MSCI : $17.28 INOD : $1.11
PE Ratio MSCI : 34.89 INOD : 92.61
PEG Ratio MSCI : 2.16 INOD : 0.02
PS Ratio MSCI : 14.21 INOD : 12.84
Total Revenue (TTM) MSCI : $3.24B INOD : $283.42M
Gross Profit (TTM) MSCI : $2.68B INOD : $76.88M
EBITDA (TTM) MSCI : $1.99B INOD : $37.35M

Return for Risk

MSCI vs. INOD — Risk / Return Rank

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

MSCI

MSCI Risk / Return Rank: 50
MSCI Sharpe Ratio Rank: 51
MSCI Sortino Ratio Rank: 45
MSCI Omega Ratio Rank: 45
MSCI Calmar Ratio Rank: 52
MSCI Martin Ratio Rank: 54

INOD

INOD Risk / Return Rank: 73
INOD Sharpe Ratio Rank: 68
INOD Sortino Ratio Rank: 81
INOD Omega Ratio Rank: 78
INOD Calmar Ratio Rank: 71
INOD Martin Ratio Rank: 67

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.

MSCI vs. INOD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MSCI Inc. (MSCI) and Innodata Inc. (INOD). 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.

	MSCI	INOD	Difference
Sharpe ratio: Return per unit of total volatility	0.26	0.83	-0.56
Sortino ratio: Return per unit of downside risk	0.56	2.31	-1.74
Omega ratio: Gain probability vs. loss probability	1.08	1.27	-0.20
Calmar ratio: Return relative to maximum drawdown	0.42	1.61	-1.19
Martin ratio: Return relative to average drawdown	1.10	2.90	-1.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSCI vs. INOD - Sharpe Ratio Comparison

The current MSCI Sharpe Ratio is 0.26, which is lower than the INOD Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of MSCI and INOD, 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

	MSCI	INOD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.26	0.83	-0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.67	-0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.52	+0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.13	+0.42

Drawdowns

MSCI vs. INOD - Drawdown Comparison

The maximum MSCI drawdown since its inception was -69.06%, smaller than the maximum INOD drawdown of -95.47%. Use the drawdown chart below to compare losses from any high point for MSCI and INOD.

Drawdown Indicators

	MSCI	INOD	Difference
Max Drawdown Largest peak-to-trough decline	-69.06%	-95.47%	+26.41%
Max Drawdown (1Y) Largest decline over 1 year	-18.07%	-63.03%	+44.96%
Max Drawdown (3Y) Largest decline over 3 years	-25.99%	-63.03%	+37.04%
Max Drawdown (5Y) Largest decline over 5 years	-43.74%	-74.44%	+30.70%
Max Drawdown (10Y) Largest decline over 10 years	-43.74%	-74.44%	+30.70%
Current Drawdown Current decline from peak	-6.35%	-15.40%	+9.05%
Average Drawdown Average peak-to-trough decline	-13.08%	-60.09%	+47.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.90%	34.88%	-27.98%

Volatility

MSCI vs. INOD - Volatility Comparison

The current volatility for MSCI Inc. (MSCI) is 8.23%, while Innodata Inc. (INOD) has a volatility of 72.66%. This indicates that MSCI experiences smaller price fluctuations and is considered to be less risky than INOD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSCI	INOD	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.23%	72.66%	-64.43%
Volatility (6M) Calculated over the trailing 6-month period	20.75%	89.14%	-68.39%
Volatility (1Y) Calculated over the trailing 1-year period	28.72%	122.75%	-94.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.73%	106.73%	-76.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.19%	89.38%	-58.19%

Dividends

MSCI vs. INOD - Dividend Comparison

MSCI's dividend yield for the trailing twelve months is around 1.28%, while INOD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INOD Innodata Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MSCI MSCI Inc.	1.28%	1.25%	1.07%	0.98%	0.98%	0.59%	0.65%	0.98%	1.30%	1.04%	1.27%	1.11%

Financials

MSCI vs. INOD - Profitability Comparison

The chart below illustrates the profitability comparison between MSCI Inc. and Innodata Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MSCI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, MSCI Inc. reported a gross profit of 709.00M and revenue of 850.80M. Therefore, the gross margin over that period was 83.3%.

INOD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Innodata Inc. reported a gross profit of 0.00 and revenue of 90.10M. Therefore, the gross margin over that period was 0.0%.

MSCI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, MSCI Inc. reported an operating income of 456.90M and revenue of 850.80M, resulting in an operating margin of 53.7%.

INOD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Innodata Inc. reported an operating income of 0.00 and revenue of 90.10M, resulting in an operating margin of 0.0%.

MSCI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, MSCI Inc. reported a net income of 406.00M and revenue of 850.80M, resulting in a net margin of 47.7%.

INOD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Innodata Inc. reported a net income of 14.90M and revenue of 90.10M, resulting in a net margin of 16.5%.

Frequently Asked Questions

Can I hold both MSCI and INOD in my portfolio?

MSCI and INOD have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSCI or INOD?

INOD has higher volatility (72.66%) compared to MSCI (8.23%). In terms of maximum drawdown, MSCI dropped -69.06% vs INOD's -95.47%.

Which has better risk-adjusted returns?

INOD currently has the higher Sharpe Ratio (0.83 vs 0.26), 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.