ON vs. AMAT
ON (ON Semiconductor Corporation) and AMAT (Applied Materials, Inc.) are both stocks. Both are in the Technology sector — ON in Semiconductors, AMAT in Semiconductor Equipment & Materials. Over the past 10 years, ON returned 28.16%/yr vs 38.86%/yr for AMAT. A 0.56 correlation means they provide meaningful diversification when combined.
Performance
ON vs. AMAT - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with ON having a 115.68% return and AMAT slightly higher at 121.28%. Over the past 10 years, ON has underperformed AMAT with an annualized return of 28.16%, while AMAT has yielded a comparatively higher 38.86% annualized return.
ON
- 1D
- 0.72%
- 1M
- 3.25%
- YTD
- 115.68%
- 6M
- 112.50%
- 1Y
- 128.91%
- 3Y*
- 8.02%
- 5Y*
- 25.32%
- 10Y*
- 28.16%
AMAT
- 1D
- 2.64%
- 1M
- 30.08%
- YTD
- 121.28%
- 6M
- 119.38%
- 1Y
- 234.96%
- 3Y*
- 60.05%
- 5Y*
- 34.02%
- 10Y*
- 38.86%
ON vs. AMAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ON ON Semiconductor Corporation | 115.68% | -14.12% | -24.52% | 33.93% | -8.17% | 107.52% | 34.25% | 47.67% | -21.16% | 64.11% |
AMAT Applied Materials, Inc. | 121.28% | 59.60% | 1.13% | 67.97% | -37.54% | 83.64% | 43.29% | 89.86% | -34.92% | 59.86% |
Correlation
The correlation between ON and AMAT is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since May 2, 2000 | 0.56 |
The correlation between ON and AMAT shifts across timeframes, from 0.56 (all time) to 0.70 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
ON:
$46.03B
AMAT:
$453.23B
ON:
$1.42
AMAT:
$10.61
ON:
82.41
AMAT:
53.45
ON:
7.80
AMAT:
15.67
ON:
6.30
AMAT:
18.96
ON:
$6.06B
AMAT:
$29.02B
ON:
$2.26B
AMAT:
$14.21B
ON:
$1.21B
AMAT:
$9.92B
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Return for Risk
ON vs. AMAT — Risk / Return Rank
ON
AMAT
ON vs. AMAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ON Semiconductor Corporation (ON) and Applied Materials, Inc. (AMAT). 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.
| ON | AMAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.41 | ||
| Sortino ratioReturn per unit of downside risk | -1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.59 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 4.31 | 10.67 | -6.36 |
| Martin ratioReturn relative to average drawdown | 8.63 | 30.41 | -21.78 |
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Drawdowns
ON vs. AMAT - Drawdown Comparison
The maximum ON drawdown since its inception was -96.34%, which is greater than AMAT's maximum drawdown of -85.22%. Use the drawdown chart below to compare losses from any high point for ON and AMAT.
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Drawdown Indicators
| ON | AMAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.34% | -85.22% | -11.12% |
Max Drawdown (1Y)Largest decline over 1 year | -28.10% | -21.37% | -6.73% |
Max Drawdown (3Y)Largest decline over 3 years | -70.44% | -49.88% | -20.56% |
Max Drawdown (5Y)Largest decline over 5 years | -70.44% | -55.14% | -15.30% |
Max Drawdown (10Y)Largest decline over 10 years | -70.44% | -55.14% | -15.30% |
Current DrawdownCurrent decline from peak | -12.80% | 0.00% | -12.80% |
Average DrawdownAverage peak-to-trough decline | -53.91% | -38.78% | -15.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.01% | 7.49% | +6.52% |
Volatility
ON vs. AMAT - Volatility Comparison
ON Semiconductor Corporation (ON) has a higher volatility of 22.04% compared to Applied Materials, Inc. (AMAT) at 20.52%. This indicates that ON's price experiences larger fluctuations and is considered to be riskier than AMAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ON | AMAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.04% | 20.52% | +1.52% |
Volatility (6M)Calculated over the trailing 6-month period | 40.05% | 38.83% | +1.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.10% | 49.03% | +5.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.32% | 44.20% | +9.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.10% | 42.94% | +8.16% |
Dividends
ON vs. AMAT - Dividend Comparison
ON has not paid dividends to shareholders, while AMAT's dividend yield for the trailing twelve months is around 0.34%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMAT Applied Materials, Inc. | 0.34% | 0.69% | 0.93% | 0.75% | 1.05% | 0.60% | 1.01% | 1.36% | 2.14% | 0.78% | 1.24% | 2.14% |
ON ON Semiconductor Corporation | 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
ON vs. AMAT - Financials Comparison
This section allows you to compare key financial metrics between ON Semiconductor Corporation and Applied Materials, 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
ON vs. AMAT - Profitability Comparison
ON - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, ON Semiconductor Corporation reported a gross profit of 583.10M and revenue of 1.51B. Therefore, the gross margin over that period was 38.5%.
AMAT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Applied Materials, Inc. reported a gross profit of 3.95B and revenue of 7.91B. Therefore, the gross margin over that period was 49.9%.
ON - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, ON Semiconductor Corporation reported an operating income of -53.40M and revenue of 1.51B, resulting in an operating margin of -3.5%.
AMAT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Applied Materials, Inc. reported an operating income of 2.52B and revenue of 7.91B, resulting in an operating margin of 31.9%.
ON - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, ON Semiconductor Corporation reported a net income of -33.40M and revenue of 1.51B, resulting in a net margin of -2.2%.
AMAT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Applied Materials, Inc. reported a net income of 2.81B and revenue of 7.91B, resulting in a net margin of 35.5%.
Frequently Asked Questions
ON and AMAT have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ON has higher volatility (22.04%) compared to AMAT (20.52%). In terms of maximum drawdown, ON dropped -96.34% vs AMAT's -85.22%.
AMAT currently has the higher Sharpe Ratio (4.65 vs 2.24), 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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