NDAQ vs. MORN
NDAQ (Nasdaq, Inc.) and MORN (Morningstar, 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 17.04%/yr vs 8.88%/yr for MORN. At a 0.43 correlation, their price movements are largely independent.
Performance
NDAQ vs. MORN - Performance Comparison
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Returns By Period
In the year-to-date period, NDAQ achieves a -7.77% return, which is significantly higher than MORN's -18.94% return. Over the past 10 years, NDAQ has outperformed MORN with an annualized return of 17.04%, while MORN has yielded a comparatively lower 8.88% annualized return.
NDAQ
- 1D
- 2.95%
- 1M
- -1.01%
- YTD
- -7.77%
- 6M
- -4.26%
- 1Y
- 4.01%
- 3Y*
- 22.18%
- 5Y*
- 10.57%
- 10Y*
- 17.04%
MORN
- 1D
- -1.09%
- 1M
- 5.41%
- YTD
- -18.94%
- 6M
- -17.73%
- 1Y
- -42.15%
- 3Y*
- -4.38%
- 5Y*
- -5.16%
- 10Y*
- 8.88%
NDAQ vs. MORN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NDAQ Nasdaq, Inc. | -7.77% | 27.19% | 34.85% | -3.66% | -11.19% | 60.13% | 25.99% | 33.88% | 8.21% | 16.76% |
MORN Morningstar, Inc. | -18.94% | -35.05% | 18.29% | 33.10% | -36.31% | 48.23% | 54.54% | 38.93% | 14.34% | 33.38% |
Correlation
The correlation between NDAQ and MORN is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since May 3, 2005 | 0.43 |
The correlation between NDAQ and MORN shifts across timeframes, from 0.43 (all time) to 0.58 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
NDAQ:
$50.87B
MORN:
$6.89B
NDAQ:
$3.32
MORN:
$9.74
NDAQ:
26.82
MORN:
17.99
NDAQ:
2.58
MORN:
0.36
NDAQ:
6.21
MORN:
2.89
NDAQ:
4.23
MORN:
6.76
NDAQ:
$8.27B
MORN:
$2.51B
NDAQ:
$4.53B
MORN:
$1.55B
NDAQ:
$3.11B
MORN:
$743.90M
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Return for Risk
NDAQ vs. MORN — Risk / Return Rank
NDAQ
MORN
NDAQ vs. MORN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nasdaq, Inc. (NDAQ) and Morningstar, Inc. (MORN). 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 | MORN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.39 | ||
| Sortino ratioReturn per unit of downside risk | +2.18 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 0.77 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | -0.83 | +1.02 |
| Martin ratioReturn relative to average drawdown | 0.42 | -1.28 | +1.70 |
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Drawdowns
NDAQ vs. MORN - Drawdown Comparison
The maximum NDAQ drawdown since its inception was -68.48%, roughly equal to the maximum MORN drawdown of -67.92%. Use the drawdown chart below to compare losses from any high point for NDAQ and MORN.
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Drawdown Indicators
| NDAQ | MORN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.48% | -67.92% | -0.56% |
Max Drawdown (1Y)Largest decline over 1 year | -21.76% | -50.65% | +28.89% |
Max Drawdown (3Y)Largest decline over 3 years | -21.76% | -56.70% | +34.94% |
Max Drawdown (5Y)Largest decline over 5 years | -32.84% | -56.70% | +23.86% |
Max Drawdown (10Y)Largest decline over 10 years | -38.31% | -56.70% | +18.39% |
Current DrawdownCurrent decline from peak | -11.29% | -50.59% | +39.30% |
Average DrawdownAverage peak-to-trough decline | -23.80% | -18.36% | -5.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.50% | 33.06% | -23.56% |
Volatility
NDAQ vs. MORN - Volatility Comparison
The current volatility for Nasdaq, Inc. (NDAQ) is 7.88%, while Morningstar, Inc. (MORN) has a volatility of 13.64%. This indicates that NDAQ experiences smaller price fluctuations and is considered to be less risky than MORN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NDAQ | MORN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.88% | 13.64% | -5.76% |
Volatility (6M)Calculated over the trailing 6-month period | 20.80% | 31.02% | -10.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.66% | 34.60% | -9.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.96% | 30.76% | -6.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.27% | 27.78% | -3.51% |
Dividends
NDAQ vs. MORN - Dividend Comparison
NDAQ's dividend yield for the trailing twelve months is around 1.56%, more than MORN's 1.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MORN Morningstar, Inc. | 1.09% | 0.84% | 0.48% | 0.52% | 0.66% | 0.28% | 0.65% | 0.74% | 0.91% | 0.95% | 1.20% | 0.95% |
NDAQ Nasdaq, Inc. | 1.56% | 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. MORN - Financials Comparison
This section allows you to compare key financial metrics between Nasdaq, Inc. and Morningstar, 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. MORN - Profitability Comparison
NDAQ - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Nasdaq, Inc. reported a gross profit of 1.41B and revenue of 2.14B. Therefore, the gross margin over that period was 65.8%.
MORN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Morningstar, Inc. reported a gross profit of 405.90M and revenue of 644.80M. Therefore, the gross margin over that period was 63.0%.
NDAQ - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Nasdaq, Inc. reported an operating income of 657.00M and revenue of 2.14B, resulting in an operating margin of 30.7%.
MORN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Morningstar, Inc. reported an operating income of 900.00K and revenue of 644.80M, resulting in an operating margin of 0.1%.
NDAQ - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Nasdaq, Inc. reported a net income of 519.00M and revenue of 2.14B, resulting in a net margin of 24.3%.
MORN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Morningstar, Inc. reported a net income of 107.10M and revenue of 644.80M, resulting in a net margin of 16.6%.
Frequently Asked Questions
NDAQ and MORN have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MORN has higher volatility (13.64%) compared to NDAQ (7.88%). In terms of maximum drawdown, NDAQ dropped -68.48% vs MORN's -67.92%.
NDAQ currently has the higher Sharpe Ratio (0.16 vs -1.22), 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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