NOAH vs. FRD
NOAH (Noah Holdings Limited) and FRD (Friedman Industries, Incorporated) are both stocks. NOAH operates in Asset Management (Financial Services), while FRD operates in Steel (Basic Materials). Over the past 10 years, NOAH returned -4.34%/yr vs 21.55%/yr for FRD. At a 0.10 correlation, their price movements are largely independent.
Performance
NOAH vs. FRD - Performance Comparison
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Returns By Period
In the year-to-date period, NOAH achieves a 2.59% return, which is significantly lower than FRD's 82.03% return. Over the past 10 years, NOAH has underperformed FRD with an annualized return of -4.34%, while FRD has yielded a comparatively higher 21.55% annualized return.
NOAH
- 1D
- 1.08%
- 1M
- 2.90%
- YTD
- 2.59%
- 6M
- 6.96%
- 1Y
- -4.76%
- 3Y*
- 0.54%
- 5Y*
- -21.34%
- 10Y*
- -4.34%
FRD
- 1D
- -0.72%
- 1M
- 79.64%
- YTD
- 82.03%
- 6M
- 81.77%
- 1Y
- 124.24%
- 3Y*
- 57.99%
- 5Y*
- 22.18%
- 10Y*
- 21.55%
NOAH vs. FRD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NOAH Noah Holdings Limited | 2.59% | -5.58% | 6.83% | -8.37% | -49.49% | -35.81% | 35.17% | -18.35% | -6.40% | 111.04% |
FRD Friedman Industries, Incorporated | 82.03% | 35.33% | -0.26% | 58.98% | 5.34% | 37.91% | 15.73% | -12.71% | 26.02% | -14.17% |
Correlation
The correlation between NOAH and FRD is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2010 | 0.10 |
Fundamentals
NOAH:
CN¥38.08
FRD:
$3.73
NOAH:
1.83
FRD:
9.97
NOAH:
0.37
FRD:
0.30
NOAH:
CN¥2.61B
FRD:
$646.91M
NOAH:
CN¥2.07B
FRD:
$32.71M
NOAH:
CN¥683.80M
FRD:
$26.09M
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Return for Risk
NOAH vs. FRD — Risk / Return Rank
NOAH
FRD
NOAH vs. FRD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Noah Holdings Limited (NOAH) and Friedman Industries, Incorporated (FRD). 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.
| NOAH | FRD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.44 | ||
| Sortino ratioReturn per unit of downside risk | -3.49 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.42 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 5.05 | -5.25 |
| Martin ratioReturn relative to average drawdown | -0.39 | 10.86 | -11.25 |
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Drawdowns
NOAH vs. FRD - Drawdown Comparison
The maximum NOAH drawdown since its inception was -86.16%, which is greater than FRD's maximum drawdown of -71.00%. Use the drawdown chart below to compare losses from any high point for NOAH and FRD.
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Drawdown Indicators
| NOAH | FRD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.16% | -71.00% | -15.16% |
Max Drawdown (1Y)Largest decline over 1 year | -23.43% | -24.77% | +1.34% |
Max Drawdown (3Y)Largest decline over 3 years | -44.80% | -46.49% | +1.69% |
Max Drawdown (5Y)Largest decline over 5 years | -81.13% | -53.55% | -27.58% |
Max Drawdown (10Y)Largest decline over 10 years | -86.16% | -65.09% | -21.07% |
Current DrawdownCurrent decline from peak | -78.26% | -0.72% | -77.54% |
Average DrawdownAverage peak-to-trough decline | -48.97% | -34.68% | -14.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.39% | 11.49% | +0.90% |
Volatility
NOAH vs. FRD - Volatility Comparison
The current volatility for Noah Holdings Limited (NOAH) is 8.19%, while Friedman Industries, Incorporated (FRD) has a volatility of 28.55%. This indicates that NOAH experiences smaller price fluctuations and is considered to be less risky than FRD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOAH | FRD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.19% | 28.55% | -20.36% |
Volatility (6M)Calculated over the trailing 6-month period | 24.26% | 38.23% | -13.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.27% | 54.72% | -22.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.18% | 54.19% | +0.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.57% | 49.65% | +0.92% |
Dividends
NOAH vs. FRD - Dividend Comparison
NOAH's dividend yield for the trailing twelve months is around 11.23%, more than FRD's 0.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRD Friedman Industries, Incorporated | 0.43% | 0.78% | 0.92% | 0.52% | 0.82% | 0.85% | 1.17% | 2.66% | 1.70% | 0.70% | 0.60% | 0.90% |
NOAH Noah Holdings Limited | 11.23% | 11.53% | 18.15% | 2.90% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
NOAH vs. FRD - Financials Comparison
This section allows you to compare key financial metrics between Noah Holdings Limited and Friedman Industries, Incorporated. 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
NOAH vs. FRD - Profitability Comparison
NOAH - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Noah Holdings Limited reported a gross profit of 523.29M and revenue of 625.75M. Therefore, the gross margin over that period was 83.6%.
FRD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Friedman Industries, Incorporated reported a gross profit of 0.00 and revenue of 191.78M. Therefore, the gross margin over that period was 0.0%.
NOAH - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Noah Holdings Limited reported an operating income of 236.44M and revenue of 625.75M, resulting in an operating margin of 37.8%.
FRD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Friedman Industries, Incorporated reported an operating income of 11.83M and revenue of 191.78M, resulting in an operating margin of 6.2%.
NOAH - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Noah Holdings Limited reported a net income of 124.72M and revenue of 625.75M, resulting in a net margin of 19.9%.
FRD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Friedman Industries, Incorporated reported a net income of 9.19M and revenue of 191.78M, resulting in a net margin of 4.8%.
Frequently Asked Questions
NOAH and FRD have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRD has higher volatility (28.55%) compared to NOAH (8.19%). In terms of maximum drawdown, NOAH dropped -86.16% vs FRD's -71.00%.
FRD currently has the higher Sharpe Ratio (2.29 vs -0.15), 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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