NHYDY vs. CPER

Last updated Jun 5, 2026

NHYDY (Norsk Hydro ASA ADR) is a stock, while CPER (United States Copper Index Fund) is Metals fund tracking the SummerHaven Copper Index Total Return. Over the past 10 years, NHYDY returned 17.85%/yr vs 10.97%/yr for CPER. At a 0.47 correlation, their price movements are largely independent.

Performance

NHYDY vs. CPER - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Norsk Hydro ASA ADR (NHYDY) and United States Copper Index Fund (CPER). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NHYDY achieves a 69.18% return, which is significantly higher than CPER's 13.64% return. Over the past 10 years, NHYDY has outperformed CPER with an annualized return of 17.85%, while CPER has yielded a comparatively lower 10.97% annualized return.

NHYDY

• 1D: 0.31%
• 1M: 11.31%
• YTD: 69.18%
• 6M: 78.61%
• 1Y: 142.54%
• 3Y*: 31.41%
• 5Y*: 20.58%
• 10Y*: 17.85%

CPER

• 1D: 0.79%
• 1M: 9.36%
• YTD: 13.64%
• 6M: 20.98%
• 1Y: 30.22%
• 3Y*: 19.73%
• 5Y*: 7.38%
• 10Y*: 10.97%

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

NHYDY vs. CPER - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NHYDY Norsk Hydro ASA ADR	69.18%	47.30%	-14.94%	-4.18%	5.95%	76.35%	34.91%	-15.68%	-38.01%	65.31%
CPER United States Copper Index Fund	13.64%	38.95%	4.23%	4.55%	-15.14%	25.21%	23.90%	6.66%	-21.91%	28.80%

Correlation

The correlation between NHYDY and CPER is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.47

The correlation between NHYDY and CPER has been stable across timeframes, ranging from 0.47 to 0.54 - a consistent structural relationship.

Return for Risk

NHYDY vs. CPER — Risk / Return Rank

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

NHYDY

NHYDY Risk / Return Rank: 98
NHYDY Sharpe Ratio Rank: 98
NHYDY Sortino Ratio Rank: 98
NHYDY Omega Ratio Rank: 96
NHYDY Calmar Ratio Rank: 98
NHYDY Martin Ratio Rank: 99

CPER

CPER Risk / Return Rank: 26
CPER Sharpe Ratio Rank: 26
CPER Sortino Ratio Rank: 24
CPER Omega Ratio Rank: 31
CPER Calmar Ratio Rank: 26
CPER Martin Ratio Rank: 22

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.

NHYDY vs. CPER - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Norsk Hydro ASA ADR (NHYDY) and United States Copper Index Fund (CPER). 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.

	NHYDY	CPER	Difference
Sharpe ratio: Return per unit of total volatility	4.58	0.88	+3.70
Sortino ratio: Return per unit of downside risk	5.01	1.23	+3.77
Omega ratio: Gain probability vs. loss probability	1.63	1.21	+0.43
Calmar ratio: Return relative to maximum drawdown	12.41	1.23	+11.18
Martin ratio: Return relative to average drawdown	46.47	2.54	+43.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NHYDY vs. CPER - Sharpe Ratio Comparison

The current NHYDY Sharpe Ratio is 4.58, which is higher than the CPER Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of NHYDY and CPER, 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

	NHYDY	CPER	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.58	0.88	+3.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.27	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.46	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.14	+0.34

Drawdowns

NHYDY vs. CPER - Drawdown Comparison

The maximum NHYDY drawdown since its inception was -73.90%, which is greater than CPER's maximum drawdown of -54.04%. Use the drawdown chart below to compare losses from any high point for NHYDY and CPER.

Drawdown Indicators

	NHYDY	CPER	Difference
Max Drawdown Largest peak-to-trough decline	-73.90%	-54.04%	-19.86%
Max Drawdown (1Y) Largest decline over 1 year	-11.56%	-24.77%	+13.21%
Max Drawdown (3Y) Largest decline over 3 years	-29.35%	-24.77%	-4.58%
Max Drawdown (5Y) Largest decline over 5 years	-46.67%	-34.75%	-11.92%
Max Drawdown (10Y) Largest decline over 10 years	-73.90%	-38.42%	-35.48%
Current Drawdown Current decline from peak	-1.77%	-2.14%	+0.37%
Average Drawdown Average peak-to-trough decline	-25.26%	-25.40%	+0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.08%	11.93%	-8.85%

Volatility

NHYDY vs. CPER - Volatility Comparison

Norsk Hydro ASA ADR (NHYDY) and United States Copper Index Fund (CPER) have volatilities of 10.04% and 9.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NHYDY	CPER	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.04%	9.60%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	26.26%	22.85%	+3.41%
Volatility (1Y) Calculated over the trailing 1-year period	31.35%	34.49%	-3.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.21%	26.97%	+12.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.35%	24.04%	+15.31%

Dividends

NHYDY vs. CPER - Dividend Comparison

NHYDY's dividend yield for the trailing twelve months is around 2.48%, while CPER has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CPER United States Copper Index Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NHYDY Norsk Hydro ASA ADR	2.48%	2.65%	4.30%	8.10%	9.59%	1.86%	5.44%	3.92%	4.96%	1.91%	2.60%

Frequently Asked Questions

Can I hold both NHYDY and CPER in my portfolio?

NHYDY and CPER have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NHYDY or CPER?

NHYDY has higher volatility (10.04%) compared to CPER (9.60%). In terms of maximum drawdown, NHYDY dropped -73.90% vs CPER's -54.04%.

Which has better risk-adjusted returns?

NHYDY currently has the higher Sharpe Ratio (4.58 vs 0.88), 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.