ON vs. WOLF

Last updated Jun 3, 2026

ON (ON Semiconductor Corporation) and WOLF (Wolfspeed, Inc.) are both stocks. Both operate in the Semiconductors industry within the Technology sector. At a 0.45 correlation, their price movements are largely independent.

Performance

ON vs. WOLF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ON Semiconductor Corporation (ON) and Wolfspeed, Inc. (WOLF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ON achieves a 137.56% return, which is significantly lower than WOLF's 250.72% return.

ON

• 1D: 6.38%
• 1M: 24.86%
• YTD: 137.56%
• 6M: 149.88%
• 1Y: 202.40%
• 3Y*: 14.00%
• 5Y*: 27.80%
• 10Y*: 29.48%

WOLF

• 1D: 15.32%
• 1M: 66.10%
• YTD: 250.72%
• 6M: 185.86%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ON vs. WOLF - Yearly Performance Comparison

	2026 (YTD)	2025
ON ON Semiconductor Corporation	137.56%	8.82%
WOLF Wolfspeed, Inc.	250.72%	-21.22%

Correlation

The correlation between ON and WOLF is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 30, 2025	0.45

Fundamentals

Market Cap ON : $50.70B WOLF : $23.99B
EPS ON : $1.42 WOLF : -$11.53
PS Ratio ON : 8.59 WOLF : 11.77
PB Ratio ON : 6.94 WOLF : 23.48
Total Revenue (TTM) ON : $6.06B WOLF : $712.50M
Gross Profit (TTM) ON : $2.26B WOLF : -$208.10M
EBITDA (TTM) ON : $1.21B WOLF : -$1.26B

Return for Risk

ON vs. WOLF — Risk / Return Rank

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

ON

ON Risk / Return Rank: 94
ON Sharpe Ratio Rank: 97
ON Sortino Ratio Rank: 94
ON Omega Ratio Rank: 93
ON Calmar Ratio Rank: 95
ON Martin Ratio Rank: 92

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.

ON vs. WOLF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ON Semiconductor Corporation (ON) and Wolfspeed, Inc. (WOLF). 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.

	ON	WOLF	Difference
Sharpe ratio Return per unit of total volatility	3.79	—	—
Sortino ratio Return per unit of downside risk	3.96	—	—
Omega ratio Gain probability vs. loss probability	1.51	—	—
Calmar ratio Return relative to maximum drawdown	7.34	—	—
Martin ratio Return relative to average drawdown	14.87	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ON	WOLF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.79	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	2.98	-2.87

Drawdowns

ON vs. WOLF - Drawdown Comparison

The maximum ON drawdown since its inception was -96.22%, which is greater than WOLF's maximum drawdown of -58.22%. Use the drawdown chart below to compare losses from any high point for ON and WOLF.

Drawdown Indicators

	ON	WOLF	Difference
Max Drawdown Largest peak-to-trough decline	-96.22%	-58.22%	-38.00%
Max Drawdown (1Y) Largest decline over 1 year	-28.10%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-70.44%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-70.44%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-70.44%	—	—
Current Drawdown Current decline from peak	0.00%	-16.93%	+16.93%
Average Drawdown Average peak-to-trough decline	-53.24%	-35.26%	-17.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.86%	—	—

Volatility

Volatility by Period

	ON	WOLF	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.90%	—	—
Volatility (6M) Calculated over the trailing 6-month period	38.52%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	53.75%	119.55%	-65.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.96%	119.55%	-66.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.91%	119.55%	-68.64%

Dividends

ON vs. WOLF - Dividend Comparison

Neither ON nor WOLF has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

ON vs. WOLF - Profitability Comparison

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

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%.

WOLF - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Wolfspeed, Inc. reported a gross profit of -27.00M and revenue of 150.20M. Therefore, the gross margin over that period was -18.0%.

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%.

WOLF - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Wolfspeed, Inc. reported an operating income of -101.30M and revenue of 150.20M, resulting in an operating margin of -67.4%.

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%.

WOLF - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Wolfspeed, Inc. reported a net income of -119.90M and revenue of 150.20M, resulting in a net margin of -79.8%.

Frequently Asked Questions

Can I hold both ON and WOLF in my portfolio?

ON and WOLF have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.