NOK vs. NATO
NOK (Nokia Corporation) is a stock, while NATO (Themes Transatlantic Defense ETF) is Aerospace & Defense fund tracking the Solactive Transatlantic Aerospace and Defense Index. Over the past year, NOK returned 192.75% vs 17.50% for NATO. At a 0.24 correlation, their price movements are largely independent.
Performance
NOK vs. NATO - Performance Comparison
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Returns By Period
In the year-to-date period, NOK achieves a 130.99% return, which is significantly higher than NATO's 4.09% return.
NOK
- 1D
- 5.04%
- 1M
- 6.09%
- YTD
- 130.99%
- 6M
- 138.36%
- 1Y
- 192.75%
- 3Y*
- 58.70%
- 5Y*
- 25.23%
- 10Y*
- 13.24%
NATO
- 1D
- -0.90%
- 1M
- 5.95%
- YTD
- 4.09%
- 6M
- 7.29%
- 1Y
- 17.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NOK vs. NATO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NOK Nokia Corporation | 130.99% | 50.85% | 1.14% |
NATO Themes Transatlantic Defense ETF | 4.09% | 50.95% | 0.51% |
Correlation
The correlation between NOK and NATO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2024 | 0.24 |
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Return for Risk
NOK vs. NATO — Risk / Return Rank
NOK
NATO
NOK vs. NATO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nokia Corporation (NOK) and Themes Transatlantic Defense ETF (NATO). 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.
| NOK | NATO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.64 | ||
| Sortino ratioReturn per unit of downside risk | +2.64 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.16 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 7.64 | 1.13 | +6.51 |
| Martin ratioReturn relative to average drawdown | 15.38 | 2.81 | +12.57 |
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Drawdowns
NOK vs. NATO - Drawdown Comparison
The maximum NOK drawdown since its inception was -95.99%, which is greater than NATO's maximum drawdown of -15.99%. Use the drawdown chart below to compare losses from any high point for NOK and NATO.
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Drawdown Indicators
| NOK | NATO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.99% | -15.99% | -80.00% |
Max Drawdown (1Y)Largest decline over 1 year | -24.45% | -15.99% | -8.46% |
Max Drawdown (3Y)Largest decline over 3 years | -29.74% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -50.56% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -62.56% | — | — |
Current DrawdownCurrent decline from peak | -50.10% | -9.97% | -40.13% |
Average DrawdownAverage peak-to-trough decline | -64.85% | -3.83% | -61.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.22% | 6.44% | +5.78% |
Volatility
NOK vs. NATO - Volatility Comparison
Nokia Corporation (NOK) has a higher volatility of 24.75% compared to Themes Transatlantic Defense ETF (NATO) at 8.57%. This indicates that NOK's price experiences larger fluctuations and is considered to be riskier than NATO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOK | NATO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.75% | 8.57% | +16.18% |
Volatility (6M)Calculated over the trailing 6-month period | 41.33% | 18.32% | +23.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.49% | 21.36% | +32.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.14% | 22.81% | +14.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.54% | 22.81% | +17.73% |
Dividends
NOK vs. NATO - Dividend Comparison
NOK's dividend yield for the trailing twelve months is around 1.11%, more than NATO's 0.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NATO Themes Transatlantic Defense ETF | 0.43% | 0.45% | 0.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NOK Nokia Corporation | 1.11% | 2.45% | 3.17% | 3.51% | 1.32% | 0.00% | 0.00% | 3.01% | 4.06% | 4.07% | 6.02% | 2.22% |
Frequently Asked Questions
NOK and NATO have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NOK has higher volatility (24.75%) compared to NATO (8.57%). In terms of maximum drawdown, NOK dropped -95.99% vs NATO's -15.99%.
NOK currently has the higher Sharpe Ratio (3.49 vs 0.85), 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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