NDAQ vs. ICE
NDAQ (Nasdaq, Inc.) and ICE (Intercontinental Exchange, Inc.) are both stocks. Both operate in the Financial Data & Stock Exchanges industry within the Financial Services sector. Over the past 10 years, NDAQ returned 16.62%/yr vs 12.62%/yr for ICE. Their 0.57 correlation means they have sometimes moved together and sometimes differently.
Performance
NDAQ vs. ICE - Performance Comparison
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Returns By Period
In the year-to-date period, NDAQ achieves a -2.37% return, which is significantly higher than ICE's -5.20% return. Over the past 10 years, NDAQ has outperformed ICE with an annualized return of 16.62%, while ICE has yielded a comparatively lower 12.62% annualized return.
NDAQ
- 1D
- -1.02%
- 1M
- 11.26%
- 6M
- -2.13%
- YTD
- -2.37%
- 1Y
- 0.22%
- 3Y*
- 25.01%
- 5Y*
- 10.13%
- 10Y*
- 16.62%
- ALL TIME*
- 14.06%
ICE
- 1D
- -2.43%
- 1M
- 14.66%
- 6M
- -11.65%
- YTD
- -5.20%
- 1Y
- -16.34%
- 3Y*
- 11.23%
- 5Y*
- 6.32%
- 10Y*
- 12.62%
- ALL TIME*
- 16.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $688.42M | $623.20M | $636.51M | |
NDAQ Nasdaq, Inc. | $352.66M | $369.72M | $355.11M |
NDAQ vs. ICE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NDAQ Nasdaq, Inc. | -2.37% | 27.19% | 34.85% | -3.66% | -11.19% | 60.13% | 25.99% | 33.88% | 8.21% | 16.76% |
ICE Intercontinental Exchange, Inc. | -5.20% | 9.92% | 17.46% | 27.12% | -23.91% | 19.94% | 26.15% | 24.47% | 8.11% | 26.60% |
Correlation
The correlation between NDAQ and ICE is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.56 |
Correlation (3Y) Balances recent behavior with more history. | 0.54 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.62 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2005 | 0.57 |
The correlation between NDAQ and ICE has been stable across timeframes, ranging from 0.54 to 0.64 - a consistent structural relationship.
Fundamentals
NDAQ:
$52.65B
ICE:
$85.99B
NDAQ:
$3.43
ICE:
$7.06
NDAQ:
27.46
ICE:
21.59
NDAQ:
2.64
ICE:
2.61
NDAQ:
6.21
ICE:
6.48
NDAQ:
4.46
ICE:
2.92
NDAQ:
$8.71B
ICE:
$13.42B
NDAQ:
$5.17B
ICE:
$10.01B
NDAQ:
$3.19B
ICE:
$6.36B
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Return for Risk
NDAQ vs. ICE — Risk / Return Rank
NDAQ
ICE
NDAQ vs. ICE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nasdaq, Inc. (NDAQ) and Intercontinental Exchange, Inc. (ICE). 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.
| NDAQ | ICE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.90 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | -0.49 | +0.45 |
| Martin ratioReturn relative to average drawdown | -0.08 | -0.99 | +0.90 |
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Drawdowns
NDAQ vs. ICE - Drawdown Comparison
The maximum NDAQ drawdown since its inception was -68.48%, smaller than the maximum ICE drawdown of -73.94%. Use the drawdown chart below to compare losses from any high point for NDAQ and ICE.
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Drawdown Indicators
| NDAQ | ICE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.48% | -73.94% | +5.46% |
Max Drawdown (1Y)Largest decline over 1 year | -23.39% | -33.94% | +10.55% |
Max Drawdown (3Y)Largest decline over 3 years | -23.39% | -33.94% | +10.55% |
Max Drawdown (5Y)Largest decline over 5 years | -32.84% | -34.32% | +1.48% |
Max Drawdown (10Y)Largest decline over 10 years | -38.31% | -34.32% | -3.99% |
Current DrawdownCurrent decline from peak | -6.09% | -18.05% | +11.96% |
Average DrawdownAverage peak-to-trough decline | -23.74% | -16.52% | -7.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.74% | 16.71% | -5.97% |
Volatility
NDAQ vs. ICE - Volatility Comparison
Nasdaq, Inc. (NDAQ) has a higher volatility of 8.83% compared to Intercontinental Exchange, Inc. (ICE) at 7.90%. This indicates that NDAQ's price experiences larger fluctuations and is considered to be riskier than ICE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NDAQ | ICE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.83% | 7.90% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 24.30% | 20.61% | +3.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.37% | 24.53% | +2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.64% | 21.65% | +2.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.59% | 22.42% | +2.17% |
Dividends
NDAQ vs. ICE - Dividend Comparison
NDAQ's dividend yield for the trailing twelve months is around 1.19%, less than ICE's 1.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICE Intercontinental Exchange, Inc. | 1.31% | 1.19% | 1.21% | 1.31% | 1.48% | 0.97% | 1.04% | 1.19% | 1.27% | 1.13% | 1.21% | 1.13% |
NDAQ Nasdaq, Inc. | 1.19% | 1.08% | 1.22% | 1.48% | 1.27% | 1.00% | 1.46% | 1.73% | 2.08% | 1.90% | 1.80% | 1.55% |
Financials
NDAQ vs. ICE - Financials Comparison
This section allows you to compare key financial metrics between Nasdaq, Inc. and Intercontinental Exchange, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
NDAQ vs. ICE - Profitability Comparison
NDAQ - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Nasdaq, Inc. reported a gross profit of 1.50B and revenue of 2.53B. Therefore, the gross margin over that period was 59.2%.
ICE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Intercontinental Exchange, Inc. reported a gross profit of 2.82B and revenue of 3.61B. Therefore, the gross margin over that period was 78.2%.
NDAQ - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Nasdaq, Inc. reported an operating income of 877.00M and revenue of 2.53B, resulting in an operating margin of 34.6%.
ICE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Intercontinental Exchange, Inc. reported an operating income of 1.39B and revenue of 3.61B, resulting in an operating margin of 38.5%.
NDAQ - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Nasdaq, Inc. reported a net income of 507.00M and revenue of 2.53B, resulting in a net margin of 20.0%.
ICE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Intercontinental Exchange, Inc. reported a net income of 958.00M and revenue of 3.61B, resulting in a net margin of 26.5%.
Frequently Asked Questions
NDAQ and ICE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NDAQ has higher volatility (8.83%) compared to ICE (7.90%). In terms of maximum drawdown, NDAQ dropped -68.48% vs ICE's -73.94%.
NDAQ currently has the higher Sharpe Ratio (-0.03 vs -0.67), 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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