ONON vs. ATMP
ONON (On Holding AG) is a stock, while ATMP (Barclays ETN+ Select MLP ETN) is MLPs fund tracking the CIBC Atlas Select MLP VWAP. Over the past 3 years, ONON returned 2.41%/yr vs 20.13%/yr for ATMP. Their 0.21 correlation means their historical movements had little consistent relationship.
Performance
ONON vs. ATMP - Performance Comparison
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Returns By Period
In the year-to-date period, ONON achieves a -18.35% return, which is significantly lower than ATMP's 25.27% return.
ONON
- 1D
- 4.72%
- 1M
- 3.04%
- 6M
- -17.39%
- YTD
- -18.35%
- 1Y
- -19.31%
- 3Y*
- 2.41%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 1.44%
ATMP
- 1D
- -0.75%
- 1M
- 4.40%
- 6M
- 18.24%
- YTD
- 25.27%
- 1Y
- 22.92%
- 3Y*
- 20.13%
- 5Y*
- 18.87%
- 10Y*
- 4.70%
- ALL TIME*
- 2.78%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $455.41K | $471.55K | $499.79K | |
ONON On Holding AG | $159.61M | $147.29M | $203.59M |
ONON vs. ATMP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ONON On Holding AG | -18.35% | -15.14% | 103.08% | 57.17% | -54.62% | 6.81% |
ATMP Barclays ETN+ Select MLP ETN | 25.27% | 1.73% | 31.66% | 14.51% | 20.71% | 1.30% |
Correlation
The correlation between ONON and ATMP is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.09 |
Correlation (3Y) Balances recent behavior with more history. | 0.13 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | 0.21 |
The correlation between ONON and ATMP shifts across timeframes, from -0.09 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ONON vs. ATMP — Risk / Return Rank
ONON
ATMP
ONON vs. ATMP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for On Holding AG (ONON) and Barclays ETN+ Select MLP ETN (ATMP). 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.
| ONON | ATMP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.01 | ||
| Sortino ratioReturn per unit of downside risk | -2.60 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.27 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 2.79 | -3.31 |
| Martin ratioReturn relative to average drawdown | -0.96 | 6.51 | -7.47 |
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Drawdowns
ONON vs. ATMP - Drawdown Comparison
The maximum ONON drawdown since its inception was -68.90%, smaller than the maximum ATMP drawdown of -80.86%. Use the drawdown chart below to compare losses from any high point for ONON and ATMP.
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Drawdown Indicators
| ONON | ATMP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.90% | -80.86% | +11.96% |
Max Drawdown (1Y)Largest decline over 1 year | -37.03% | -8.30% | -28.73% |
Max Drawdown (3Y)Largest decline over 3 years | -49.89% | -16.48% | -33.41% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.66% | — |
Current DrawdownCurrent decline from peak | -40.35% | -2.01% | -38.34% |
Average DrawdownAverage peak-to-trough decline | -36.16% | -30.80% | -5.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.04% | 3.54% | +16.50% |
Volatility
ONON vs. ATMP - Volatility Comparison
On Holding AG (ONON) has a higher volatility of 11.43% compared to Barclays ETN+ Select MLP ETN (ATMP) at 5.06%. This indicates that ONON's price experiences larger fluctuations and is considered to be riskier than ATMP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ONON | ATMP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.43% | 5.06% | +6.37% |
Volatility (6M)Calculated over the trailing 6-month period | 32.82% | 11.76% | +21.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.08% | 14.59% | +31.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.81% | 21.94% | +34.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.81% | 27.61% | +29.20% |
Dividends
ONON vs. ATMP - Dividend Comparison
Neither ONON nor ATMP has paid dividends to shareholders.
Frequently Asked Questions
ONON and ATMP have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ONON has higher volatility (11.43%) compared to ATMP (5.06%). In terms of maximum drawdown, ONON dropped -68.90% vs ATMP's -80.86%.
ATMP currently has the higher Sharpe Ratio (1.59 vs -0.42), 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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