ONTO vs. SPXC
ONTO (Onto Innovation Inc.) and SPXC (SPX Corporation) are both stocks. ONTO operates in Semiconductor Equipment & Materials (Technology), while SPXC operates in Specialty Industrial Machinery (Industrials). Over the past 10 years, ONTO returned 33.01%/yr vs 31.53%/yr for SPXC. At a 0.27 correlation, their price movements are largely independent.
Performance
ONTO vs. SPXC - Performance Comparison
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Returns By Period
In the year-to-date period, ONTO achieves a 105.17% return, which is significantly higher than SPXC's 14.99% return. Both investments have delivered pretty close results over the past 10 years, with ONTO having a 33.01% annualized return and SPXC not far behind at 31.53%.
ONTO
- 1D
- 6.70%
- 1M
- 19.17%
- YTD
- 105.17%
- 6M
- 107.14%
- 1Y
- 242.01%
- 3Y*
- 42.57%
- 5Y*
- 33.99%
- 10Y*
- 33.01%
SPXC
- 1D
- -1.47%
- 1M
- 14.46%
- YTD
- 14.99%
- 6M
- 4.60%
- 1Y
- 48.95%
- 3Y*
- 39.38%
- 5Y*
- 31.04%
- 10Y*
- 31.53%
ONTO vs. SPXC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ONTO Onto Innovation Inc. | 105.17% | -5.29% | 9.01% | 124.56% | -32.74% | 112.89% | 30.13% | 33.70% | 9.67% | -0.56% |
SPXC SPX Corporation | 14.99% | 37.48% | 44.06% | 53.86% | 10.00% | 9.42% | 7.19% | 81.65% | -10.77% | 32.34% |
Correlation
The correlation between ONTO and SPXC is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 1992 | 0.27 |
The correlation between ONTO and SPXC shifts across timeframes, from 0.27 (all time) to 0.46 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
ONTO:
$16.20B
SPXC:
$11.62B
ONTO:
$2.15
SPXC:
$5.19
ONTO:
150.40
SPXC:
44.34
ONTO:
13.49
SPXC:
0.01
ONTO:
15.53
SPXC:
4.78
ONTO:
7.60
SPXC:
5.09
ONTO:
$1.03B
SPXC:
$2.35B
ONTO:
$502.93M
SPXC:
$909.30M
ONTO:
$177.93M
SPXC:
$475.30M
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Return for Risk
ONTO vs. SPXC — Risk / Return Rank
ONTO
SPXC
ONTO vs. SPXC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Onto Innovation Inc. (ONTO) and SPX Corporation (SPXC). 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.
| ONTO | SPXC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.68 | ||
| Sortino ratioReturn per unit of downside risk | +1.86 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.23 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 11.14 | 1.95 | +9.19 |
| Martin ratioReturn relative to average drawdown | 30.28 | 4.99 | +25.30 |
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Drawdowns
ONTO vs. SPXC - Drawdown Comparison
The maximum ONTO drawdown since its inception was -98.56%, which is greater than SPXC's maximum drawdown of -81.12%. Use the drawdown chart below to compare losses from any high point for ONTO and SPXC.
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Drawdown Indicators
| ONTO | SPXC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.56% | -81.12% | -17.44% |
Max Drawdown (1Y)Largest decline over 1 year | -20.24% | -23.15% | +2.91% |
Max Drawdown (3Y)Largest decline over 3 years | -62.82% | -33.54% | -29.28% |
Max Drawdown (5Y)Largest decline over 5 years | -62.82% | -38.32% | -24.50% |
Max Drawdown (10Y)Largest decline over 10 years | -62.82% | -50.26% | -12.56% |
Current DrawdownCurrent decline from peak | 0.00% | -5.34% | +5.34% |
Average DrawdownAverage peak-to-trough decline | -54.69% | -29.01% | -25.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.45% | 9.04% | -1.59% |
Volatility
ONTO vs. SPXC - Volatility Comparison
Onto Innovation Inc. (ONTO) has a higher volatility of 22.52% compared to SPX Corporation (SPXC) at 11.30%. This indicates that ONTO's price experiences larger fluctuations and is considered to be riskier than SPXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ONTO | SPXC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.52% | 11.30% | +11.22% |
Volatility (6M)Calculated over the trailing 6-month period | 44.08% | 28.00% | +16.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.63% | 36.72% | +20.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.75% | 35.14% | +20.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.41% | 37.46% | +13.95% |
Dividends
ONTO vs. SPXC - Dividend Comparison
Neither ONTO nor SPXC has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ONTO Onto Innovation 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% |
SPXC SPX Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 386.22% |
Financials
ONTO vs. SPXC - Financials Comparison
This section allows you to compare key financial metrics between Onto Innovation Inc. and SPX Corporation. 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
ONTO vs. SPXC - Profitability Comparison
ONTO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Onto Innovation Inc. reported a gross profit of 146.39M and revenue of 291.95M. Therefore, the gross margin over that period was 50.1%.
SPXC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, SPX Corporation reported a gross profit of 230.60M and revenue of 566.80M. Therefore, the gross margin over that period was 40.7%.
ONTO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Onto Innovation Inc. reported an operating income of 33.51M and revenue of 291.95M, resulting in an operating margin of 11.5%.
SPXC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, SPX Corporation reported an operating income of 87.70M and revenue of 566.80M, resulting in an operating margin of 15.5%.
ONTO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Onto Innovation Inc. reported a net income of 33.75M and revenue of 291.95M, resulting in a net margin of 11.6%.
SPXC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, SPX Corporation reported a net income of 59.90M and revenue of 566.80M, resulting in a net margin of 10.6%.
Frequently Asked Questions
ONTO and SPXC have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ONTO has higher volatility (22.52%) compared to SPXC (11.30%). In terms of maximum drawdown, ONTO dropped -98.56% vs SPXC's -81.12%.
ONTO currently has the higher Sharpe Ratio (3.91 vs 1.23), 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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