MSFT.NEO vs. ^GSPC

Last updated Jun 16, 2026

MSFT.NEO (Microsoft Corp CDR) is a stock, while ^GSPC (S&P 500 Index) is an index. Over the past 3 years, MSFT.NEO returned 4.13%/yr vs 21.85%/yr for ^GSPC. A 0.61 correlation means they provide meaningful diversification when combined.

Performance

MSFT.NEO vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Microsoft Corp CDR (MSFT.NEO) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

MSFT.NEO is traded in CAD, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, MSFT.NEO achieves a -17.91% return, which is significantly lower than ^GSPC's 12.52% return.

MSFT.NEO

• 1D: 2.25%
• 1M: -5.02%
• YTD: -17.91%
• 6M: -16.55%
• 1Y: -17.17%
• 3Y*: 4.13%
• 5Y*: —
• 10Y*: —

^GSPC

• 1D: 1.59%
• 1M: 3.75%
• YTD: 12.52%
• 6M: 12.40%
• 1Y: 29.80%
• 3Y*: 21.85%
• 5Y*: 15.43%
• 10Y*: 14.70%

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

MSFT.NEO vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MSFT.NEO Microsoft Corp CDR	-17.91%	12.61%	11.26%	56.34%	-29.26%	16.84%
^GSPC S&P 500 Index	12.52%	11.07%	33.75%	21.28%	-14.34%	11.88%

Correlation

The correlation between MSFT.NEO and ^GSPC is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (All Time) Calculated using the full available price history since Oct 5, 2021	0.61

Over the past year, the correlation between MSFT.NEO and ^GSPC has dropped to 0.35 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.

Return for Risk

MSFT.NEO vs. ^GSPC — Risk / Return Rank

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

MSFT.NEO

MSFT.NEO Risk / Return Rank: 18
MSFT.NEO Sharpe Ratio Rank: 13
MSFT.NEO Sortino Ratio Rank: 15
MSFT.NEO Omega Ratio Rank: 15
MSFT.NEO Calmar Ratio Rank: 25
MSFT.NEO Martin Ratio Rank: 21

^GSPC

^GSPC Risk / Return Rank: 83
^GSPC Sharpe Ratio Rank: 81
^GSPC Sortino Ratio Rank: 84
^GSPC Omega Ratio Rank: 86
^GSPC Calmar Ratio Rank: 76
^GSPC Martin Ratio Rank: 86

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.

MSFT.NEO vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Microsoft Corp CDR (MSFT.NEO) and S&P 500 Index (^GSPC). 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.

	MSFT.NEO	^GSPC	Difference
Sharpe ratio: Return per unit of total volatility	-0.68	2.35	-3.03
Sortino ratio: Return per unit of downside risk	-0.81	3.22	-4.03
Omega ratio: Gain probability vs. loss probability	0.89	1.41	-0.52
Calmar ratio: Return relative to maximum drawdown	-0.50	3.26	-3.76
Martin ratio: Return relative to average drawdown	-1.00	12.12	-13.12

MSFT.NEO vs. ^GSPC - Sharpe Ratio Comparison

The current MSFT.NEO Sharpe Ratio is -0.68, which is lower than the ^GSPC Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of MSFT.NEO and ^GSPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MSFT.NEO vs. ^GSPC - Drawdown Comparison

The maximum MSFT.NEO drawdown since its inception was -37.95%, smaller than the maximum ^GSPC drawdown of -48.87%. Use the drawdown chart below to compare losses from any high point for MSFT.NEO and ^GSPC.

Drawdown Indicators

	MSFT.NEO	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-37.95%	-48.87%	+10.92%
Max Drawdown (1Y) Largest decline over 1 year	-34.54%	-9.17%	-25.37%
Max Drawdown (3Y) Largest decline over 3 years	-34.54%	-19.59%	-14.95%
Max Drawdown (5Y) Largest decline over 5 years	—	-23.14%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.97%	—
Current Drawdown Current decline from peak	-27.08%	0.00%	-27.08%
Average Drawdown Average peak-to-trough decline	-12.46%	-9.66%	-2.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.18%	2.46%	+14.72%

Volatility

MSFT.NEO vs. ^GSPC - Volatility Comparison

Microsoft Corp CDR (MSFT.NEO) has a higher volatility of 10.69% compared to S&P 500 Index (^GSPC) at 4.77%. This indicates that MSFT.NEO's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSFT.NEO	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.69%	4.77%	+5.92%
Volatility (6M) Calculated over the trailing 6-month period	22.31%	10.19%	+12.12%
Volatility (1Y) Calculated over the trailing 1-year period	25.27%	12.77%	+12.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.17%	17.95%	+9.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.17%	19.17%	+8.00%

Frequently Asked Questions

Can I hold both MSFT.NEO and ^GSPC in my portfolio?

MSFT.NEO and ^GSPC have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.