RNG vs. SKYY

Last updated Jun 23, 2026

RNG (RingCentral, Inc.) is a stock, while SKYY (First Trust ISE Cloud Computing Index Fund) is Technology Equities fund tracking the ISE Cloud Computing Index. Over the past 10 years, RNG returned 5.73%/yr vs 16.19%/yr for SKYY. A 0.61 correlation means they provide meaningful diversification when combined.

Performance

RNG vs. SKYY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RingCentral, Inc. (RNG) and First Trust ISE Cloud Computing Index Fund (SKYY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RNG achieves a 21.04% return, which is significantly higher than SKYY's -0.42% return. Over the past 10 years, RNG has underperformed SKYY with an annualized return of 5.73%, while SKYY has yielded a comparatively higher 16.19% annualized return.

RNG

• 1D: -0.51%
• 1M: -19.86%
• YTD: 21.04%
• 6M: 17.85%
• 1Y: 30.87%
• 3Y*: 2.91%
• 5Y*: -34.83%
• 10Y*: 5.73%

SKYY

• 1D: -1.77%
• 1M: -2.62%
• YTD: -0.42%
• 6M: -2.85%
• 1Y: 12.89%
• 3Y*: 20.61%
• 5Y*: 4.44%
• 10Y*: 16.19%

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

RNG vs. SKYY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RNG RingCentral, Inc.	21.04%	-17.51%	3.12%	-4.10%	-81.10%	-50.56%	124.68%	104.60%	70.33%	134.95%
SKYY First Trust ISE Cloud Computing Index Fund	-0.42%	9.20%	35.87%	52.18%	-44.68%	10.62%	57.77%	25.25%	6.01%	33.47%

Correlation

The correlation between RNG and SKYY is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Sep 27, 2013	0.61

The correlation between RNG and SKYY has been stable across timeframes, ranging from 0.59 to 0.69 - a consistent structural relationship.

Return for Risk

RNG vs. SKYY — Risk / Return Rank

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

RNG

RNG Risk / Return Rank: 62
RNG Sharpe Ratio Rank: 58
RNG Sortino Ratio Rank: 62
RNG Omega Ratio Rank: 60
RNG Calmar Ratio Rank: 64
RNG Martin Ratio Rank: 66

SKYY

SKYY Risk / Return Rank: 14
SKYY Sharpe Ratio Rank: 15
SKYY Sortino Ratio Rank: 15
SKYY Omega Ratio Rank: 15
SKYY Calmar Ratio Rank: 14
SKYY Martin Ratio Rank: 13

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.

RNG vs. SKYY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RingCentral, Inc. (RNG) and First Trust ISE Cloud Computing Index Fund (SKYY). 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.

	RNG	SKYY	Difference
Sharpe ratio: Return per unit of total volatility	0.45	0.45	0.00
Sortino ratio: Return per unit of downside risk	1.30	0.83	+0.47
Omega ratio: Gain probability vs. loss probability	1.16	1.10	+0.06
Calmar ratio: Return relative to maximum drawdown	1.07	0.47	+0.60
Martin ratio: Return relative to average drawdown	2.64	1.03	+1.61

RNG vs. SKYY - Sharpe Ratio Comparison

The current RNG Sharpe Ratio is 0.45, which is comparable to the SKYY Sharpe Ratio of 0.45. The chart below compares the historical Sharpe Ratios of RNG and SKYY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RNG vs. SKYY - Drawdown Comparison

The maximum RNG drawdown since its inception was -95.15%, which is greater than SKYY's maximum drawdown of -53.20%. Use the drawdown chart below to compare losses from any high point for RNG and SKYY.

Drawdown Indicators

	RNG	SKYY	Difference
Max Drawdown Largest peak-to-trough decline	-95.15%	-53.20%	-41.95%
Max Drawdown (1Y) Largest decline over 1 year	-28.93%	-27.39%	-1.54%
Max Drawdown (3Y) Largest decline over 3 years	-49.86%	-31.80%	-18.06%
Max Drawdown (5Y) Largest decline over 5 years	-92.99%	-53.20%	-39.79%
Max Drawdown (10Y) Largest decline over 10 years	-95.15%	-53.20%	-41.95%
Current Drawdown Current decline from peak	-92.11%	-16.52%	-75.59%
Average Drawdown Average peak-to-trough decline	-42.45%	-10.90%	-31.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.72%	12.50%	-0.78%

Volatility

RNG vs. SKYY - Volatility Comparison

RingCentral, Inc. (RNG) has a higher volatility of 19.04% compared to First Trust ISE Cloud Computing Index Fund (SKYY) at 13.52%. This indicates that RNG's price experiences larger fluctuations and is considered to be riskier than SKYY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RNG	SKYY	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.04%	13.52%	+5.52%
Volatility (6M) Calculated over the trailing 6-month period	53.10%	23.98%	+29.12%
Volatility (1Y) Calculated over the trailing 1-year period	68.89%	28.63%	+40.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.09%	30.73%	+32.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.67%	26.94%	+28.73%

Dividends

RNG vs. SKYY - Dividend Comparison

RNG's dividend yield for the trailing twelve months is around 0.43%, while SKYY has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RNG RingCentral, Inc.	0.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SKYY First Trust ISE Cloud Computing Index Fund	0.00%	0.00%	0.00%	0.00%	0.23%	0.78%	0.17%	0.54%	0.37%	0.27%	0.35%	0.41%

Frequently Asked Questions

Can I hold both RNG and SKYY in my portfolio?

RNG and SKYY have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RNG or SKYY?

RNG has higher volatility (19.04%) compared to SKYY (13.52%). In terms of maximum drawdown, RNG dropped -95.15% vs SKYY's -53.20%.

Which has better risk-adjusted returns?

SKYY currently has the higher Sharpe Ratio (0.45 vs 0.45), 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.