PNW vs. ON
PNW (Pinnacle West Capital Corporation) and ON (ON Semiconductor Corporation) are both stocks. PNW operates in Utilities - Regulated Electric (Utilities), while ON operates in Semiconductors (Technology). Over the past 10 years, PNW returned 7.08%/yr vs 28.16%/yr for ON. At a 0.14 correlation, their price movements are largely independent.
Performance
PNW vs. ON - Performance Comparison
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Returns By Period
In the year-to-date period, PNW achieves a 18.81% return, which is significantly lower than ON's 115.68% return. Over the past 10 years, PNW has underperformed ON with an annualized return of 7.08%, while ON has yielded a comparatively higher 28.16% annualized return.
PNW
- 1D
- 1.02%
- 1M
- 3.68%
- YTD
- 18.81%
- 6M
- 20.01%
- 1Y
- 19.53%
- 3Y*
- 12.92%
- 5Y*
- 8.00%
- 10Y*
- 7.08%
ON
- 1D
- 0.72%
- 1M
- -1.33%
- YTD
- 115.68%
- 6M
- 112.50%
- 1Y
- 128.91%
- 3Y*
- 8.02%
- 5Y*
- 25.32%
- 10Y*
- 28.16%
PNW vs. ON - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PNW Pinnacle West Capital Corporation | 18.81% | 8.92% | 23.46% | -1.18% | 13.01% | -7.78% | -7.68% | 9.06% | 3.58% | 12.67% |
ON ON Semiconductor Corporation | 115.68% | -14.12% | -24.52% | 33.93% | -8.17% | 107.52% | 34.25% | 47.67% | -21.16% | 64.11% |
Correlation
The correlation between PNW and ON is -0.04, 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 | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since May 2, 2000 | 0.14 |
The correlation between PNW and ON shifts across timeframes, from -0.04 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
Fundamentals
PNW:
$12.80B
ON:
$46.03B
PNW:
$5.34
ON:
$1.42
PNW:
19.36
ON:
82.41
PNW:
2.32
ON:
7.80
PNW:
1.81
ON:
6.30
PNW:
$5.46B
ON:
$6.06B
PNW:
$2.22B
ON:
$2.26B
PNW:
$2.18B
ON:
$1.21B
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Return for Risk
PNW vs. ON — Risk / Return Rank
PNW
ON
PNW vs. ON - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pinnacle West Capital Corporation (PNW) and ON Semiconductor Corporation (ON). 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.
| PNW | ON | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.09 | ||
| Sortino ratioReturn per unit of downside risk | -1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.36 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 4.31 | -2.10 |
| Martin ratioReturn relative to average drawdown | 5.32 | 8.63 | -3.31 |
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Drawdowns
PNW vs. ON - Drawdown Comparison
The maximum PNW drawdown since its inception was -79.18%, smaller than the maximum ON drawdown of -96.34%. Use the drawdown chart below to compare losses from any high point for PNW and ON.
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Drawdown Indicators
| PNW | ON | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.18% | -96.34% | +17.16% |
Max Drawdown (1Y)Largest decline over 1 year | -8.43% | -28.10% | +19.67% |
Max Drawdown (3Y)Largest decline over 3 years | -19.52% | -70.44% | +50.92% |
Max Drawdown (5Y)Largest decline over 5 years | -27.95% | -70.44% | +42.49% |
Max Drawdown (10Y)Largest decline over 10 years | -39.28% | -70.44% | +31.16% |
Current DrawdownCurrent decline from peak | -0.09% | -12.80% | +12.71% |
Average DrawdownAverage peak-to-trough decline | -14.59% | -53.91% | +39.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.51% | 14.01% | -10.50% |
Volatility
PNW vs. ON - Volatility Comparison
The current volatility for Pinnacle West Capital Corporation (PNW) is 5.99%, while ON Semiconductor Corporation (ON) has a volatility of 22.04%. This indicates that PNW experiences smaller price fluctuations and is considered to be less risky than ON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PNW | ON | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.99% | 22.04% | -16.05% |
Volatility (6M)Calculated over the trailing 6-month period | 12.14% | 40.05% | -27.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.29% | 54.10% | -37.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.40% | 53.32% | -32.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.64% | 51.10% | -28.46% |
Dividends
PNW vs. ON - Dividend Comparison
PNW's dividend yield for the trailing twelve months is around 3.50%, while ON has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PNW Pinnacle West Capital Corporation | 3.50% | 4.05% | 4.17% | 4.84% | 4.49% | 4.73% | 3.97% | 3.33% | 3.31% | 3.12% | 3.24% | 3.74% |
Financials
PNW vs. ON - Financials Comparison
This section allows you to compare key financial metrics between Pinnacle West Capital Corporation and ON Semiconductor 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
PNW vs. ON - Profitability Comparison
PNW - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Pinnacle West Capital Corporation reported a gross profit of 712.87M and revenue of 1.15B. Therefore, the gross margin over that period was 62.0%.
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%.
PNW - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Pinnacle West Capital Corporation reported an operating income of 401.36M and revenue of 1.15B, resulting in an operating margin of 34.9%.
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%.
PNW - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Pinnacle West Capital Corporation reported a net income of 32.92M and revenue of 1.15B, resulting in a net margin of 2.9%.
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%.
Frequently Asked Questions
PNW and ON have a correlation of -0.04, 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 PNW (5.99%). In terms of maximum drawdown, PNW dropped -79.18% vs ON's -96.34%.
ON currently has the higher Sharpe Ratio (2.24 vs 1.15), 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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