NAT vs. ENOR
NAT (Nordic American Tankers Limited) is a stock, while ENOR (iShares MSCI Norway ETF) is Europe Equities fund tracking the MSCI Norway IMI 25/50 Index. Over the past 10 years, NAT returned -0.19%/yr vs 9.52%/yr for ENOR. At a 0.28 correlation, their price movements are largely independent.
Performance
NAT vs. ENOR - Performance Comparison
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Returns By Period
In the year-to-date period, NAT achieves a 94.17% return, which is significantly higher than ENOR's 18.99% return. Over the past 10 years, NAT has underperformed ENOR with an annualized return of -0.19%, while ENOR has yielded a comparatively higher 9.52% annualized return.
NAT
- 1D
- 6.15%
- 1M
- 19.96%
- YTD
- 94.17%
- 6M
- 95.31%
- 1Y
- 159.58%
- 3Y*
- 33.66%
- 5Y*
- 23.54%
- 10Y*
- -0.19%
ENOR
- 1D
- 0.89%
- 1M
- -9.16%
- YTD
- 18.99%
- 6M
- 20.39%
- 1Y
- 22.90%
- 3Y*
- 21.03%
- 5Y*
- 7.45%
- 10Y*
- 9.52%
NAT vs. ENOR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NAT Nordic American Tankers Limited | 94.17% | 54.57% | -33.63% | 55.83% | 87.90% | -41.48% | -32.82% | 156.48% | -13.56% | -68.39% |
ENOR iShares MSCI Norway ETF | 18.99% | 32.00% | -2.29% | 4.80% | -12.53% | 18.69% | 2.54% | 12.77% | -8.50% | 21.98% |
Correlation
The correlation between NAT and ENOR is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2012 | 0.28 |
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Return for Risk
NAT vs. ENOR — Risk / Return Rank
NAT
ENOR
NAT vs. ENOR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nordic American Tankers Limited (NAT) and iShares MSCI Norway ETF (ENOR). 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.
| NAT | ENOR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.03 | ||
| Sortino ratioReturn per unit of downside risk | +2.93 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.23 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 8.70 | 2.11 | +6.60 |
| Martin ratioReturn relative to average drawdown | 27.39 | 6.91 | +20.48 |
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Drawdowns
NAT vs. ENOR - Drawdown Comparison
The maximum NAT drawdown since its inception was -90.20%, which is greater than ENOR's maximum drawdown of -55.35%. Use the drawdown chart below to compare losses from any high point for NAT and ENOR.
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Drawdown Indicators
| NAT | ENOR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.20% | -55.35% | -34.85% |
Max Drawdown (1Y)Largest decline over 1 year | -18.45% | -10.91% | -7.54% |
Max Drawdown (3Y)Largest decline over 3 years | -46.31% | -15.84% | -30.47% |
Max Drawdown (5Y)Largest decline over 5 years | -58.72% | -32.65% | -26.07% |
Max Drawdown (10Y)Largest decline over 10 years | -85.97% | -54.21% | -31.76% |
Current DrawdownCurrent decline from peak | -31.49% | -10.12% | -21.37% |
Average DrawdownAverage peak-to-trough decline | -43.99% | -16.54% | -27.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.85% | 3.33% | +2.52% |
Volatility
NAT vs. ENOR - Volatility Comparison
Nordic American Tankers Limited (NAT) has a higher volatility of 13.08% compared to iShares MSCI Norway ETF (ENOR) at 4.43%. This indicates that NAT's price experiences larger fluctuations and is considered to be riskier than ENOR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NAT | ENOR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.08% | 4.43% | +8.65% |
Volatility (6M)Calculated over the trailing 6-month period | 29.44% | 14.25% | +15.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.15% | 17.77% | +19.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.28% | 22.15% | +29.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.12% | 23.96% | +34.16% |
Dividends
NAT vs. ENOR - Dividend Comparison
NAT's dividend yield for the trailing twelve months is around 9.98%, more than ENOR's 5.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENOR iShares MSCI Norway ETF | 5.61% | 2.96% | 6.32% | 5.06% | 4.02% | 2.24% | 2.39% | 3.15% | 2.79% | 2.47% | 2.96% | 3.24% |
NAT Nordic American Tankers Limited | 9.98% | 10.47% | 16.00% | 11.67% | 3.59% | 3.55% | 15.25% | 2.03% | 8.00% | 21.54% | 16.31% | 8.88% |
Frequently Asked Questions
NAT and ENOR have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NAT has higher volatility (13.08%) compared to ENOR (4.43%). In terms of maximum drawdown, NAT dropped -90.20% vs ENOR's -55.35%.
NAT currently has the higher Sharpe Ratio (4.33 vs 1.30), 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.
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