NE vs. EPOL

Last updated Jun 4, 2026

NE (Noble Corporation) is a stock, while EPOL (iShares MSCI Poland ETF) is Europe Equities fund tracking the MSCI Poland Investable Market Index. Over the past 3 years, NE returned 9.82%/yr vs 35.67%/yr for EPOL. At a 0.27 correlation, their price movements are largely independent.

Performance

NE vs. EPOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Noble Corporation (NE) and iShares MSCI Poland ETF (EPOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NE achieves a 67.02% return, which is significantly higher than EPOL's 13.58% return.

NE

• 1D: -1.02%
• 1M: -8.40%
• YTD: 67.02%
• 6M: 42.41%
• 1Y: 84.69%
• 3Y*: 9.82%
• 5Y*: —
• 10Y*: —

EPOL

• 1D: -0.52%
• 1M: 5.18%
• YTD: 13.58%
• 6M: 22.93%
• 1Y: 40.50%
• 3Y*: 35.67%
• 5Y*: 15.78%
• 10Y*: 11.45%

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

NE vs. EPOL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NE Noble Corporation	67.02%	-3.21%	-31.57%	29.54%	52.00%	0.24%
EPOL iShares MSCI Poland ETF	13.58%	77.34%	-2.61%	50.70%	-24.62%	-4.85%

Correlation

The correlation between NE and EPOL is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (All Time) Calculated using the full available price history since Jun 10, 2021	0.27

The correlation between NE and EPOL shifts across timeframes, from 0.14 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NE vs. EPOL — Risk / Return Rank

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

NE

NE Risk / Return Rank: 87
NE Sharpe Ratio Rank: 88
NE Sortino Ratio Rank: 85
NE Omega Ratio Rank: 82
NE Calmar Ratio Rank: 91
NE Martin Ratio Rank: 89

EPOL

EPOL Risk / Return Rank: 55
EPOL Sharpe Ratio Rank: 50
EPOL Sortino Ratio Rank: 50
EPOL Omega Ratio Rank: 45
EPOL Calmar Ratio Rank: 73
EPOL Martin Ratio Rank: 57

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.

NE vs. EPOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Noble Corporation (NE) and iShares MSCI Poland ETF (EPOL). 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.

	NE	EPOL	Difference
Sharpe ratio: Return per unit of total volatility	2.09	1.76	+0.33
Sortino ratio: Return per unit of downside risk	2.77	2.49	+0.28
Omega ratio: Gain probability vs. loss probability	1.33	1.29	+0.04
Calmar ratio: Return relative to maximum drawdown	5.14	3.68	+1.46
Martin ratio: Return relative to average drawdown	11.37	10.07	+1.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NE vs. EPOL - Sharpe Ratio Comparison

The current NE Sharpe Ratio is 2.09, which is comparable to the EPOL Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of NE and EPOL, 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

	NE	EPOL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	1.76	+0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.55	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.21	+0.18

Drawdowns

NE vs. EPOL - Drawdown Comparison

The maximum NE drawdown since its inception was -63.16%, roughly equal to the maximum EPOL drawdown of -63.72%. Use the drawdown chart below to compare losses from any high point for NE and EPOL.

Drawdown Indicators

	NE	EPOL	Difference
Max Drawdown Largest peak-to-trough decline	-63.16%	-63.72%	+0.56%
Max Drawdown (1Y) Largest decline over 1 year	-16.56%	-11.04%	-5.52%
Max Drawdown (3Y) Largest decline over 3 years	-63.16%	-21.81%	-41.35%
Max Drawdown (5Y) Largest decline over 5 years	—	-54.21%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-61.41%	—
Current Drawdown Current decline from peak	-14.20%	-1.65%	-12.55%
Average Drawdown Average peak-to-trough decline	-19.54%	-26.89%	+7.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.47%	4.03%	+3.44%

Volatility

NE vs. EPOL - Volatility Comparison

Noble Corporation (NE) has a higher volatility of 9.89% compared to iShares MSCI Poland ETF (EPOL) at 7.84%. This indicates that NE's price experiences larger fluctuations and is considered to be riskier than EPOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NE	EPOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.89%	7.84%	+2.05%
Volatility (6M) Calculated over the trailing 6-month period	29.66%	17.35%	+12.31%
Volatility (1Y) Calculated over the trailing 1-year period	40.87%	23.20%	+17.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.43%	29.06%	+14.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.43%	27.65%	+15.78%

Dividends

NE vs. EPOL - Dividend Comparison

NE's dividend yield for the trailing twelve months is around 4.29%, more than EPOL's 4.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPOL iShares MSCI Poland ETF	4.21%	4.78%	6.04%	2.87%	2.65%	1.33%	1.44%	2.51%	1.44%	1.88%	2.14%	2.53%
NE Noble Corporation	4.29%	7.08%	5.73%	1.45%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NE and EPOL in my portfolio?

NE and EPOL have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NE or EPOL?

NE has higher volatility (9.89%) compared to EPOL (7.84%). In terms of maximum drawdown, NE dropped -63.16% vs EPOL's -63.72%.

Which has better risk-adjusted returns?

NE currently has the higher Sharpe Ratio (2.09 vs 1.76), 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.