NOC vs. IIPR
NOC (Northrop Grumman Corporation) and IIPR (Innovative Industrial Properties, Inc.) are both stocks. NOC operates in Aerospace & Defense (Industrials), while IIPR operates in REIT - Industrial (Real Estate). Over the past 5 years, NOC returned 9.73%/yr vs -13.57%/yr for IIPR. At a 0.11 correlation, their price movements are largely independent.
Performance
NOC vs. IIPR - 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 IIPR's 32.69% return.
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%
IIPR
- 1D
- -2.07%
- 1M
- 12.06%
- YTD
- 32.69%
- 6M
- 15.09%
- 1Y
- 24.22%
- 3Y*
- 4.81%
- 5Y*
- -13.57%
- 10Y*
- —
NOC vs. IIPR - 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% |
IIPR Innovative Industrial Properties, Inc. | 32.69% | -18.40% | -28.55% | 8.78% | -59.02% | 47.49% | 151.33% | 72.52% | 43.88% | 82.30% |
Correlation
The correlation between NOC and IIPR is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2016 | 0.11 |
Fundamentals
NOC:
$78.42B
IIPR:
$1.72B
NOC:
$31.95
IIPR:
$4.14
NOC:
17.22
IIPR:
14.62
NOC:
1.86
IIPR:
6.51
NOC:
4.58
IIPR:
0.96
NOC:
$42.37B
IIPR:
$263.23M
NOC:
$8.69B
IIPR:
$195.78M
NOC:
$7.50B
IIPR:
$210.04M
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Return for Risk
NOC vs. IIPR — Risk / Return Rank
NOC
IIPR
NOC vs. IIPR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northrop Grumman Corporation (NOC) and Innovative Industrial Properties, Inc. (IIPR). 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 | IIPR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.14 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.40 | 1.09 | -0.69 |
| Martin ratioReturn relative to average drawdown | 1.02 | 2.65 | -1.63 |
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Drawdowns
NOC vs. IIPR - Drawdown Comparison
The maximum NOC drawdown since its inception was -71.12%, smaller than the maximum IIPR drawdown of -78.42%. Use the drawdown chart below to compare losses from any high point for NOC and IIPR.
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Drawdown Indicators
| NOC | IIPR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.12% | -78.42% | +7.30% |
Max Drawdown (1Y)Largest decline over 1 year | -31.20% | -21.29% | -9.91% |
Max Drawdown (3Y)Largest decline over 3 years | -31.20% | -62.92% | +31.72% |
Max Drawdown (5Y)Largest decline over 5 years | -31.20% | -78.42% | +47.22% |
Max Drawdown (10Y)Largest decline over 10 years | -36.38% | — | — |
Current DrawdownCurrent decline from peak | -28.03% | -68.14% | +40.11% |
Average DrawdownAverage peak-to-trough decline | -18.40% | -37.34% | +18.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.25% | 8.73% | +3.52% |
Volatility
NOC vs. IIPR - Volatility Comparison
The current volatility for Northrop Grumman Corporation (NOC) is 7.39%, while Innovative Industrial Properties, Inc. (IIPR) has a volatility of 9.13%. This indicates that NOC experiences smaller price fluctuations and is considered to be less risky than IIPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOC | IIPR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.39% | 9.13% | -1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 21.25% | 30.31% | -9.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.55% | 41.56% | -15.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.28% | 41.71% | -16.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.42% | 48.46% | -23.04% |
Dividends
NOC vs. IIPR - Dividend Comparison
NOC's dividend yield for the trailing twelve months is around 1.71%, less than IIPR's 12.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IIPR Innovative Industrial Properties, Inc. | 12.56% | 16.05% | 11.28% | 7.16% | 7.01% | 2.18% | 2.44% | 3.73% | 1.87% | 1.70% | 0.00% | 0.00% |
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% |
Financials
NOC vs. IIPR - Financials Comparison
This section allows you to compare key financial metrics between Northrop Grumman Corporation and Innovative Industrial Properties, 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
NOC vs. IIPR - Profitability Comparison
NOC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Northrop Grumman Corporation reported a gross profit of 1.96B and revenue of 9.88B. Therefore, the gross margin over that period was 19.8%.
IIPR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Innovative Industrial Properties, Inc. reported a gross profit of 61.42M and revenue of 69.00M. Therefore, the gross margin over that period was 89.0%.
NOC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Northrop Grumman Corporation reported an operating income of 989.00M and revenue of 9.88B, resulting in an operating margin of 10.0%.
IIPR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Innovative Industrial Properties, Inc. reported an operating income of 32.91M and revenue of 69.00M, resulting in an operating margin of 47.7%.
NOC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Northrop Grumman Corporation reported a net income of 875.00M and revenue of 9.88B, resulting in a net margin of 8.9%.
IIPR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Innovative Industrial Properties, Inc. reported a net income of 30.16M and revenue of 69.00M, resulting in a net margin of 43.7%.
Frequently Asked Questions
NOC and IIPR have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IIPR has higher volatility (9.13%) compared to NOC (7.39%). In terms of maximum drawdown, NOC dropped -71.12% vs IIPR's -78.42%.
IIPR currently has the higher Sharpe Ratio (0.56 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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