SAP vs. LIN
SAP (SAP SE) and LIN (Linde plc) are both stocks. SAP operates in Software - Application (Technology), while LIN operates in Specialty Chemicals (Basic Materials). Over the past 5 years, SAP returned 8.40%/yr vs 12.14%/yr for LIN. At a 0.45 correlation, their price movements are largely independent.
Performance
SAP vs. LIN - Performance Comparison
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Returns By Period
In the year-to-date period, SAP achieves a -20.08% return, which is significantly lower than LIN's 16.69% return.
SAP
- 1D
- -2.70%
- 1M
- 13.69%
- YTD
- -20.08%
- 6M
- -19.69%
- 1Y
- -36.28%
- 3Y*
- 14.25%
- 5Y*
- 8.40%
- 10Y*
- 10.53%
LIN
- 1D
- -0.30%
- 1M
- -2.36%
- YTD
- 16.69%
- 6M
- 22.17%
- 1Y
- 8.19%
- 3Y*
- 12.53%
- 5Y*
- 12.14%
- 10Y*
- —
SAP vs. LIN - Yearly Performance Comparison
Correlation
The correlation between SAP and LIN is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Oct 2, 2018 | 0.45 |
Over the past year, the correlation between SAP and LIN has dropped to 0.09 - well below their long-term average of 0.45, suggesting their price drivers have been diverging.
Fundamentals
SAP:
$222.88B
LIN:
$231.25B
SAP:
$6.13
LIN:
$15.16
SAP:
31.15
LIN:
32.71
SAP:
0.66
LIN:
1.63
SAP:
6.00
LIN:
6.73
SAP:
4.97
LIN:
6.00
SAP:
$37.34B
LIN:
$34.66B
SAP:
$27.51B
LIN:
$15.94B
SAP:
$12.97B
LIN:
$12.31B
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Return for Risk
SAP vs. LIN — Risk / Return Rank
SAP
LIN
SAP vs. LIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SAP SE (SAP) and Linde plc (LIN). 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.
| SAP | LIN | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.10 | 0.49 | -1.59 |
Sortino ratioReturn per unit of downside risk | -1.49 | 0.80 | -2.29 |
Omega ratioGain probability vs. loss probability | 0.80 | 1.09 | -0.29 |
Calmar ratioReturn relative to maximum drawdown | -0.75 | 0.39 | -1.14 |
Martin ratioReturn relative to average drawdown | -1.32 | 1.10 | -2.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SAP | LIN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.10 | 0.49 | -1.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | 0.59 | -0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.70 | -0.55 |
Drawdowns
SAP vs. LIN - Drawdown Comparison
The maximum SAP drawdown since its inception was -87.91%, which is greater than LIN's maximum drawdown of -32.59%. Use the drawdown chart below to compare losses from any high point for SAP and LIN.
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Drawdown Indicators
| SAP | LIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.91% | -32.59% | -55.32% |
Max Drawdown (1Y)Largest decline over 1 year | -47.71% | -19.18% | -28.53% |
Max Drawdown (3Y)Largest decline over 3 years | -47.71% | -19.18% | -28.53% |
Max Drawdown (5Y)Largest decline over 5 years | -47.71% | -22.82% | -24.89% |
Max Drawdown (10Y)Largest decline over 10 years | -51.31% | — | — |
Current DrawdownCurrent decline from peak | -37.76% | -4.19% | -33.57% |
Average DrawdownAverage peak-to-trough decline | -28.23% | -5.43% | -22.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.28% | 6.80% | +20.48% |
Volatility
SAP vs. LIN - Volatility Comparison
SAP SE (SAP) has a higher volatility of 11.84% compared to Linde plc (LIN) at 5.72%. This indicates that SAP's price experiences larger fluctuations and is considered to be riskier than LIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAP | LIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.84% | 5.72% | +6.12% |
Volatility (6M)Calculated over the trailing 6-month period | 29.34% | 13.35% | +15.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.16% | 16.86% | +16.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.50% | 20.75% | +7.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.25% | 24.08% | +4.17% |
Dividends
SAP vs. LIN - Dividend Comparison
SAP's dividend yield for the trailing twelve months is around 1.53%, more than LIN's 1.23% yield.
Financials
SAP vs. LIN - Financials Comparison
This section allows you to compare key financial metrics between SAP SE and Linde plc. 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
SAP vs. LIN - Profitability Comparison
SAP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, SAP SE reported a gross profit of 6.97B and revenue of 9.56B. Therefore, the gross margin over that period was 73.0%.
LIN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Linde plc reported a gross profit of 4.26B and revenue of 8.78B. Therefore, the gross margin over that period was 48.5%.
SAP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, SAP SE reported an operating income of 2.75B and revenue of 9.56B, resulting in an operating margin of 28.8%.
LIN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Linde plc reported an operating income of 3.26B and revenue of 8.78B, resulting in an operating margin of 37.2%.
SAP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, SAP SE reported a net income of 1.93B and revenue of 9.56B, resulting in a net margin of 20.2%.
LIN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Linde plc reported a net income of 1.86B and revenue of 8.78B, resulting in a net margin of 21.2%.
Frequently Asked Questions
SAP and LIN 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.
SAP has higher volatility (11.84%) compared to LIN (5.72%). In terms of maximum drawdown, SAP dropped -87.91% vs LIN's -32.59%.
LIN currently has the higher Sharpe Ratio (0.49 vs -1.10), 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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