NOC vs. ICLN
NOC (Northrop Grumman Corporation) is a stock, while ICLN (iShares Global Clean Energy ETF) is Alternative Energy Equities fund tracking the S&P Global Clean Energy Index. Over the past 10 years, NOC returned 11.53%/yr vs 11.67%/yr for ICLN. At a 0.29 correlation, their price movements are largely independent.
Performance
NOC vs. ICLN - Performance Comparison
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Returns By Period
In the year-to-date period, NOC achieves a -2.75% return, which is significantly lower than ICLN's 27.33% return. Both investments have delivered pretty close results over the past 10 years, with NOC having a 11.53% annualized return and ICLN not far ahead at 11.67%.
NOC
- 1D
- -0.40%
- 1M
- 0.75%
- YTD
- -2.75%
- 6M
- -2.67%
- 1Y
- 8.17%
- 3Y*
- 8.64%
- 5Y*
- 9.73%
- 10Y*
- 11.53%
ICLN
- 1D
- 0.87%
- 1M
- -5.47%
- YTD
- 27.33%
- 6M
- 27.01%
- 1Y
- 60.20%
- 3Y*
- 5.25%
- 5Y*
- -0.21%
- 10Y*
- 11.67%
NOC vs. ICLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NOC Northrop Grumman Corporation | -2.75% | 23.61% | 1.93% | -12.79% | 43.02% | 29.29% | -9.92% | 42.69% | -18.95% | 33.88% |
ICLN iShares Global Clean Energy ETF | 27.33% | 47.05% | -25.72% | -20.41% | -5.43% | -24.18% | 141.82% | 44.36% | -9.03% | 21.47% |
Correlation
The correlation between NOC and ICLN is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2008 | 0.29 |
Over the past year, the correlation between NOC and ICLN has dropped to 0.04 - well below their long-term average of 0.29, suggesting their price drivers have been diverging.
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Return for Risk
NOC vs. ICLN — Risk / Return Rank
NOC
ICLN
NOC vs. ICLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northrop Grumman Corporation (NOC) and iShares Global Clean Energy ETF (ICLN). 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.
| NOC | ICLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.69 | ||
| Sortino ratioReturn per unit of downside risk | -1.86 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.34 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.40 | 3.73 | -3.33 |
| Martin ratioReturn relative to average drawdown | 1.02 | 13.84 | -12.82 |
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Drawdowns
NOC vs. ICLN - Drawdown Comparison
The maximum NOC drawdown since its inception was -71.12%, smaller than the maximum ICLN drawdown of -87.15%. Use the drawdown chart below to compare losses from any high point for NOC and ICLN.
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Drawdown Indicators
| NOC | ICLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.12% | -87.15% | +16.03% |
Max Drawdown (1Y)Largest decline over 1 year | -31.20% | -16.38% | -14.82% |
Max Drawdown (3Y)Largest decline over 3 years | -31.20% | -43.18% | +11.98% |
Max Drawdown (5Y)Largest decline over 5 years | -31.20% | -57.16% | +25.96% |
Max Drawdown (10Y)Largest decline over 10 years | -36.38% | -66.75% | +30.37% |
Current DrawdownCurrent decline from peak | -28.03% | -43.03% | +15.00% |
Average DrawdownAverage peak-to-trough decline | -18.40% | -66.56% | +48.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.25% | 4.41% | +7.84% |
Volatility
NOC vs. ICLN - Volatility Comparison
The current volatility for Northrop Grumman Corporation (NOC) is 7.39%, while iShares Global Clean Energy ETF (ICLN) has a volatility of 12.97%. This indicates that NOC experiences smaller price fluctuations and is considered to be less risky than ICLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOC | ICLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.39% | 12.97% | -5.58% |
Volatility (6M)Calculated over the trailing 6-month period | 21.25% | 22.62% | -1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.55% | 28.21% | -1.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.28% | 27.55% | -2.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.42% | 27.32% | -1.90% |
Dividends
NOC vs. ICLN - Dividend Comparison
NOC's dividend yield for the trailing twelve months is around 1.71%, more than ICLN's 1.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICLN iShares Global Clean Energy ETF | 1.28% | 1.63% | 1.85% | 1.59% | 0.89% | 1.18% | 0.34% | 1.36% | 2.77% | 2.49% | 3.88% | 2.36% |
NOC Northrop Grumman Corporation | 1.71% | 1.58% | 1.72% | 1.57% | 1.24% | 1.59% | 1.86% | 1.50% | 1.92% | 1.27% | 1.50% | 1.64% |
Frequently Asked Questions
NOC and ICLN have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ICLN has higher volatility (12.97%) compared to NOC (7.39%). In terms of maximum drawdown, NOC dropped -71.12% vs ICLN's -87.15%.
ICLN currently has the higher Sharpe Ratio (2.17 vs 0.47), 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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