NOK vs. UAA

Last updated Jun 3, 2026

NOK (Nokia Corporation) and UAA (Under Armour, Inc.) are both stocks. NOK operates in Communication Equipment (Technology), while UAA operates in Apparel Manufacturing (Consumer Cyclical). Over the past 10 years, NOK returned 14.47%/yr vs -17.33%/yr for UAA. At a 0.29 correlation, their price movements are largely independent.

Performance

NOK vs. UAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nokia Corporation (NOK) and Under Armour, Inc. (UAA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NOK achieves a 162.99% return, which is significantly higher than UAA's 9.26% return. Over the past 10 years, NOK has outperformed UAA with an annualized return of 14.47%, while UAA has yielded a comparatively lower -17.33% annualized return.

NOK

• 1D: 3.69%
• 1M: 26.69%
• YTD: 162.99%
• 6M: 174.88%
• 1Y: 225.76%
• 3Y*: 65.99%
• 5Y*: 28.29%
• 10Y*: 14.47%

UAA

• 1D: -1.99%
• 1M: -13.67%
• YTD: 9.26%
• 6M: 19.08%
• 1Y: -16.59%
• 3Y*: -11.52%
• 5Y*: -24.51%
• 10Y*: -17.33%

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

NOK vs. UAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NOK Nokia Corporation	162.99%	50.85%	34.33%	-23.97%	-24.44%	59.08%	5.39%	-34.91%	30.04%	-0.22%
UAA Under Armour, Inc.	9.26%	-39.98%	-5.80%	-13.48%	-52.05%	23.41%	-20.51%	22.24%	22.45%	-50.33%

Correlation

The correlation between NOK and UAA is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Nov 21, 2005	0.29

The correlation between NOK and UAA shifts across timeframes, from 0.19 (1 year) to 0.36 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap NOK : $96.43B UAA : $2.31B
EPS NOK : $0.14 UAA : -$1.16
PS Ratio NOK : 4.68 UAA : 0.47
PB Ratio NOK : 4.55 UAA : 1.64
Total Revenue (TTM) NOK : $20.00B UAA : $4.97B
Gross Profit (TTM) NOK : $8.82B UAA : $2.26B
EBITDA (TTM) NOK : $2.24B UAA : -$36.44M

Return for Risk

NOK vs. UAA — Risk / Return Rank

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

NOK

NOK Risk / Return Rank: 97
NOK Sharpe Ratio Rank: 98
NOK Sortino Ratio Rank: 97
NOK Omega Ratio Rank: 96
NOK Calmar Ratio Rank: 97
NOK Martin Ratio Rank: 94

UAA

UAA Risk / Return Rank: 27
UAA Sharpe Ratio Rank: 27
UAA Sortino Ratio Rank: 28
UAA Omega Ratio Rank: 28
UAA Calmar Ratio Rank: 25
UAA Martin Ratio Rank: 27

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.

NOK vs. UAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nokia Corporation (NOK) and Under Armour, Inc. (UAA). 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.

	NOK	UAA	Difference
Sharpe ratio Return per unit of total volatility	4.47	-0.30	+4.78
Sortino ratio Return per unit of downside risk	5.03	-0.08	+5.11
Omega ratio Gain probability vs. loss probability	1.66	0.99	+0.67
Calmar ratio Return relative to maximum drawdown	9.41	-0.44	+9.85
Martin ratio Return relative to average drawdown	18.43	-0.71	+19.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NOK vs. UAA - Sharpe Ratio Comparison

The current NOK Sharpe Ratio is 4.47, which is higher than the UAA Sharpe Ratio of -0.30. The chart below compares the historical Sharpe Ratios of NOK and UAA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NOK	UAA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.47	-0.30	+4.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	-0.47	+1.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	-0.33	+0.69
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.05	+0.14

Drawdowns

NOK vs. UAA - Drawdown Comparison

The maximum NOK drawdown since its inception was -95.99%, roughly equal to the maximum UAA drawdown of -91.99%. Use the drawdown chart below to compare losses from any high point for NOK and UAA.

Drawdown Indicators

	NOK	UAA	Difference
Max Drawdown Largest peak-to-trough decline	-95.99%	-91.99%	-4.00%
Max Drawdown (1Y) Largest decline over 1 year	-24.59%	-43.42%	+18.83%
Max Drawdown (3Y) Largest decline over 3 years	-29.74%	-62.53%	+32.79%
Max Drawdown (5Y) Largest decline over 5 years	-50.56%	-84.53%	+33.97%
Max Drawdown (10Y) Largest decline over 10 years	-62.56%	-90.43%	+27.87%
Current Drawdown Current decline from peak	-43.18%	-89.57%	+46.39%
Average Drawdown Average peak-to-trough decline	-64.87%	-45.70%	-19.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.55%	26.93%	-14.38%

Volatility

NOK vs. UAA - Volatility Comparison

Nokia Corporation (NOK) and Under Armour, Inc. (UAA) have volatilities of 23.89% and 23.01%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOK	UAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.89%	23.01%	+0.88%
Volatility (6M) Calculated over the trailing 6-month period	37.32%	43.30%	-5.98%
Volatility (1Y) Calculated over the trailing 1-year period	50.83%	54.68%	-3.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.43%	52.73%	-16.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.22%	52.12%	-11.90%

Dividends

NOK vs. UAA - Dividend Comparison

NOK's dividend yield for the trailing twelve months is around 0.97%, while UAA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NOK Nokia Corporation	0.97%	2.45%	3.17%	3.51%	1.32%	0.00%	0.00%	3.01%	4.06%	4.07%	6.02%	2.22%
UAA Under Armour, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

NOK vs. UAA - Profitability Comparison

The chart below illustrates the profitability comparison between Nokia Corporation and Under Armour, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

NOK - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Nokia Corporation reported a gross profit of 1.99B and revenue of 4.50B. Therefore, the gross margin over that period was 44.2%.

UAA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Under Armour, Inc. reported a gross profit of 492.04M and revenue of 1.17B. Therefore, the gross margin over that period was 42.0%.

NOK - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Nokia Corporation reported an operating income of 63.00M and revenue of 4.50B, resulting in an operating margin of 1.4%.

UAA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Under Armour, Inc. reported an operating income of -33.70M and revenue of 1.17B, resulting in an operating margin of -2.9%.

NOK - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Nokia Corporation reported a net income of 86.00M and revenue of 4.50B, resulting in a net margin of 1.9%.

UAA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Under Armour, Inc. reported a net income of -43.39M and revenue of 1.17B, resulting in a net margin of -3.7%.

Frequently Asked Questions

Can I hold both NOK and UAA in my portfolio?

NOK and UAA have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NOK or UAA?

NOK has higher volatility (23.89%) compared to UAA (23.01%). In terms of maximum drawdown, NOK dropped -95.99% vs UAA's -91.99%.

Which has better risk-adjusted returns?

NOK currently has the higher Sharpe Ratio (4.47 vs -0.30), 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.