NYAX vs. SPOT
NYAX (Nayax Ltd) and SPOT (Spotify Technology S.A.) are both stocks. NYAX operates in Information Technology Services (Technology), while SPOT operates in Internet Content & Information (Communication Services). Over the past 3 years, NYAX returned 47.06%/yr vs 42.88%/yr for SPOT. At a 0.08 correlation, their price movements are largely independent.
Performance
NYAX vs. SPOT - Performance Comparison
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Returns By Period
In the year-to-date period, NYAX achieves a 25.71% return, which is significantly higher than SPOT's -20.90% return.
NYAX
- 1D
- -2.54%
- 1M
- -6.43%
- YTD
- 25.71%
- 6M
- 33.63%
- 1Y
- 34.31%
- 3Y*
- 47.06%
- 5Y*
- —
- 10Y*
- —
SPOT
- 1D
- -1.87%
- 1M
- -11.64%
- YTD
- -20.90%
- 6M
- -20.64%
- 1Y
- -35.07%
- 3Y*
- 42.88%
- 5Y*
- 12.34%
- 10Y*
- —
NYAX vs. SPOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NYAX Nayax Ltd | 25.71% | 73.53% | 53.08% | -3.30% | -42.48% |
SPOT Spotify Technology S.A. | -20.90% | 29.80% | 138.08% | 138.01% | -18.83% |
Correlation
The correlation between NYAX and SPOT is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2022 | 0.08 |
The correlation between NYAX and SPOT shifts across timeframes, from -0.05 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.
Fundamentals
NYAX:
$2.64B
SPOT:
$96.13B
NYAX:
$0.77
SPOT:
€12.94
NYAX:
82.60
SPOT:
30.96
NYAX:
5.76
SPOT:
4.78
NYAX:
11.19
SPOT:
10.45
NYAX:
$429.22M
SPOT:
€17.60B
NYAX:
$195.18M
SPOT:
€5.68B
NYAX:
$69.76M
SPOT:
€2.75B
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Return for Risk
NYAX vs. SPOT — Risk / Return Rank
NYAX
SPOT
NYAX vs. SPOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nayax Ltd (NYAX) and Spotify Technology S.A. (SPOT). 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.
| NYAX | SPOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.62 | ||
| Sortino ratioReturn per unit of downside risk | +2.40 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.88 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | -0.75 | +2.23 |
| Martin ratioReturn relative to average drawdown | 3.31 | -1.27 | +4.57 |
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Drawdowns
NYAX vs. SPOT - Drawdown Comparison
The maximum NYAX drawdown since its inception was -52.18%, smaller than the maximum SPOT drawdown of -80.51%. Use the drawdown chart below to compare losses from any high point for NYAX and SPOT.
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Drawdown Indicators
| NYAX | SPOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.18% | -80.51% | +28.33% |
Max Drawdown (1Y)Largest decline over 1 year | -23.26% | -46.80% | +23.54% |
Max Drawdown (3Y)Largest decline over 3 years | -31.25% | -46.80% | +15.55% |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.39% | — |
Current DrawdownCurrent decline from peak | -16.09% | -40.80% | +24.71% |
Average DrawdownAverage peak-to-trough decline | -23.64% | -30.89% | +7.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.41% | 27.73% | -17.32% |
Volatility
NYAX vs. SPOT - Volatility Comparison
The current volatility for Nayax Ltd (NYAX) is 14.11%, while Spotify Technology S.A. (SPOT) has a volatility of 16.88%. This indicates that NYAX experiences smaller price fluctuations and is considered to be less risky than SPOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NYAX | SPOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.11% | 16.88% | -2.77% |
Volatility (6M)Calculated over the trailing 6-month period | 30.37% | 37.35% | -6.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.75% | 45.57% | -4.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.40% | 47.59% | +3.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.40% | 47.34% | +4.06% |
Dividends
NYAX vs. SPOT - Dividend Comparison
Neither NYAX nor SPOT has paid dividends to shareholders.
Financials
NYAX vs. SPOT - Financials Comparison
This section allows you to compare key financial metrics between Nayax Ltd and Spotify Technology S.A.. 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
NYAX vs. SPOT - Profitability Comparison
NYAX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Nayax Ltd reported a gross profit of 48.02M and revenue of 105.91M. Therefore, the gross margin over that period was 45.3%.
SPOT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Spotify Technology S.A. reported a gross profit of 1.51B and revenue of 4.61B. Therefore, the gross margin over that period was 32.9%.
NYAX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Nayax Ltd reported an operating income of 4.10M and revenue of 105.91M, resulting in an operating margin of 3.9%.
SPOT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Spotify Technology S.A. reported an operating income of 726.76M and revenue of 4.61B, resulting in an operating margin of 15.8%.
NYAX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Nayax Ltd reported a net income of 1.27M and revenue of 105.91M, resulting in a net margin of 1.2%.
SPOT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Spotify Technology S.A. reported a net income of 732.86M and revenue of 4.61B, resulting in a net margin of 15.9%.
Frequently Asked Questions
NYAX and SPOT have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPOT has higher volatility (16.88%) compared to NYAX (14.11%). In terms of maximum drawdown, NYAX dropped -52.18% vs SPOT's -80.51%.
NYAX currently has the higher Sharpe Ratio (0.85 vs -0.77), 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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