NOC vs. T

Last updated Jun 13, 2026

NOC (Northrop Grumman Corporation) and T (AT&T Inc.) are both stocks. NOC operates in Aerospace & Defense (Industrials), while T operates in Telecom Services (Communication Services). Over the past 10 years, NOC returned 11.53%/yr vs 3.33%/yr for T. At a 0.25 correlation, their price movements are largely independent.

Performance

NOC vs. T - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northrop Grumman Corporation (NOC) and AT&T Inc. (T). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NOC achieves a -2.75% return, which is significantly higher than T's -2.96% return. Over the past 10 years, NOC has outperformed T with an annualized return of 11.53%, while T has yielded a comparatively lower 3.33% annualized return.

NOC

• 1D: -0.40%
• 1M: 0.17%
• YTD: -2.75%
• 6M: -2.67%
• 1Y: 12.44%
• 3Y*: 8.64%
• 5Y*: 9.73%
• 10Y*: 11.53%

T

• 1D: 2.52%
• 1M: -4.69%
• YTD: -2.96%
• 6M: -1.93%
• 1Y: -12.96%
• 3Y*: 20.58%
• 5Y*: 7.38%
• 10Y*: 3.33%

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

NOC vs. T - 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%
T AT&T Inc.	-2.96%	13.97%	44.08%	-2.74%	5.76%	-8.09%	-21.37%	45.55%	-22.25%	-4.01%

Correlation

The correlation between NOC and T is 0.06, 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	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jul 19, 1984	0.25

The correlation between NOC and T shifts across timeframes, from 0.06 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.

Fundamentals

EPS NOC : $31.95 T : $3.04
PE Ratio NOC : 17.22 T : 7.74
PEG Ratio NOC : 2.54 T : 0.32
PS Ratio NOC : 1.86 T : 1.35
Total Revenue (TTM) NOC : $42.37B T : $125.65B
Gross Profit (TTM) NOC : $8.69B T : $105.41B
EBITDA (TTM) NOC : $7.50B T : $54.70B

Return for Risk

NOC vs. T — Risk / Return Rank

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

NOC

NOC Risk / Return Rank: 54
NOC Sharpe Ratio Rank: 59
NOC Sortino Ratio Rank: 53
NOC Omega Ratio Rank: 52
NOC Calmar Ratio Rank: 52
NOC Martin Ratio Rank: 54

T

T Risk / Return Rank: 18
T Sharpe Ratio Rank: 17
T Sortino Ratio Rank: 17
T Omega Ratio Rank: 18
T Calmar Ratio Rank: 21
T Martin Ratio Rank: 15

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.

NOC vs. T - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northrop Grumman Corporation (NOC) and AT&T Inc. (T). 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	T	Difference
Sharpe ratio: Return per unit of total volatility	0.47	-0.59	+1.06
Sortino ratio: Return per unit of downside risk	0.87	-0.72	+1.59
Omega ratio: Gain probability vs. loss probability	1.11	0.92	+0.19
Calmar ratio: Return relative to maximum drawdown	0.40	-0.59	+0.99
Martin ratio: Return relative to average drawdown	1.02	-1.22	+2.24

NOC vs. T - Sharpe Ratio Comparison

The current NOC Sharpe Ratio is 0.47, which is higher than the T Sharpe Ratio of -0.59. The chart below compares the historical Sharpe Ratios of NOC and T, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NOC vs. T - Drawdown Comparison

The maximum NOC drawdown since its inception was -71.12%, which is greater than T's maximum drawdown of -64.15%. Use the drawdown chart below to compare losses from any high point for NOC and T.

Drawdown Indicators

	NOC	T	Difference
Max Drawdown Largest peak-to-trough decline	-71.12%	-64.15%	-6.97%
Max Drawdown (1Y) Largest decline over 1 year	-31.20%	-21.87%	-9.33%
Max Drawdown (3Y) Largest decline over 3 years	-31.20%	-21.87%	-9.33%
Max Drawdown (5Y) Largest decline over 5 years	-31.20%	-32.01%	+0.81%
Max Drawdown (10Y) Largest decline over 10 years	-36.38%	-42.35%	+5.97%
Current Drawdown Current decline from peak	-28.03%	-18.12%	-9.91%
Average Drawdown Average peak-to-trough decline	-18.40%	-15.72%	-2.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.25%	10.64%	+1.61%

Volatility

NOC vs. T - Volatility Comparison

The current volatility for Northrop Grumman Corporation (NOC) is 7.39%, while AT&T Inc. (T) has a volatility of 8.21%. This indicates that NOC experiences smaller price fluctuations and is considered to be less risky than T based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOC	T	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.39%	8.21%	-0.82%
Volatility (6M) Calculated over the trailing 6-month period	21.25%	17.80%	+3.45%
Volatility (1Y) Calculated over the trailing 1-year period	26.55%	22.13%	+4.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.28%	24.01%	+1.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.42%	23.73%	+1.69%

Dividends

NOC vs. T - Dividend Comparison

NOC's dividend yield for the trailing twelve months is around 1.71%, less than T's 4.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
T AT&T Inc.	4.71%	4.47%	4.87%	6.62%	6.66%	8.46%	7.23%	5.22%	7.01%	5.04%	4.51%	5.46%

Financials

Frequently Asked Questions

Can I hold both NOC and T in my portfolio?

NOC and T have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NOC or T?

T has higher volatility (8.21%) compared to NOC (7.39%). In terms of maximum drawdown, NOC dropped -71.12% vs T's -64.15%.

Which has better risk-adjusted returns?

NOC currently has the higher Sharpe Ratio (0.47 vs -0.59), 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.