SAP vs. NTES
SAP (SAP SE) and NTES (NetEase, Inc. Sponsored ADR) are both stocks. SAP operates in Software - Application (Technology), while NTES operates in Electronic Gaming & Multimedia (Communication Services). Over the past 10 years, SAP returned 10.24%/yr vs 14.31%/yr for NTES. Their 0.28 correlation means their historical movements had little consistent relationship.
Performance
SAP vs. NTES - Performance Comparison
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Returns By Period
In the year-to-date period, SAP achieves a -17.35% return, which is significantly lower than NTES's -5.43% return. Over the past 10 years, SAP has underperformed NTES with an annualized return of 10.24%, while NTES has yielded a comparatively higher 14.31% annualized return.
SAP
- 1D
- 0.94%
- 1M
- 22.95%
- 6M
- 0.54%
- YTD
- -17.35%
- 1Y
- -29.60%
- 3Y*
- 15.54%
- 5Y*
- 7.82%
- 10Y*
- 10.24%
- ALL TIME*
- 5.90%
NTES
- 1D
- -1.91%
- 1M
- -2.19%
- 6M
- 7.20%
- YTD
- -5.43%
- 1Y
- -0.04%
- 3Y*
- 8.43%
- 5Y*
- 10.40%
- 10Y*
- 14.31%
- ALL TIME*
- 22.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $84.11M | $115.47M | $126.29M | |
SAP SAP SE | $720.44M | $576.14M | $538.86M |
SAP vs. NTES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SAP SAP SE | -17.35% | -0.48% | 61.27% | 52.30% | -24.64% | 9.22% | -1.28% | 36.43% | -10.04% | 31.25% |
NTES NetEase, Inc. Sponsored ADR | -5.43% | 58.28% | -1.73% | 30.59% | -27.35% | 7.11% | 57.88% | 34.66% | -31.31% | 62.21% |
Correlation
The correlation between SAP and NTES is 0.17, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.17 |
Correlation (3Y) Balances recent behavior with more history. | 0.21 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.25 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2000 | 0.28 |
The correlation between SAP and NTES shifts across timeframes, from 0.17 (1 year) to 0.29 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
SAP:
$229.94B
NTES:
$81.79B
SAP:
€6.67
NTES:
CN¥52.90
SAP:
25.65
NTES:
16.32
SAP:
0.55
NTES:
0.77
SAP:
5.23
NTES:
4.87
SAP:
4.43
NTES:
3.38
SAP:
€38.19B
NTES:
CN¥114.39B
SAP:
€27.79B
NTES:
CN¥75.14B
SAP:
€12.89B
NTES:
CN¥40.24B
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Return for Risk
SAP vs. NTES — Risk / Return Rank
SAP
NTES
SAP vs. NTES - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SAP SE (SAP) and NetEase, Inc. Sponsored ADR (NTES). 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.
| SAP | NTES | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.78 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.03 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.60 | -0.00 | -0.60 |
| Martin ratioReturn relative to average drawdown | -0.98 | -0.00 | -0.98 |
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Drawdowns
SAP vs. NTES - Drawdown Comparison
The maximum SAP drawdown since its inception was -87.91%, smaller than the maximum NTES drawdown of -96.54%. Use the drawdown chart below to compare losses from any high point for SAP and NTES.
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Drawdown Indicators
| SAP | NTES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.91% | -96.54% | +8.63% |
Max Drawdown (1Y)Largest decline over 1 year | -49.60% | -30.46% | -19.14% |
Max Drawdown (3Y)Largest decline over 3 years | -52.26% | -33.97% | -18.29% |
Max Drawdown (5Y)Largest decline over 5 years | -52.26% | -51.38% | -0.88% |
Max Drawdown (10Y)Largest decline over 10 years | -52.26% | -57.34% | +5.08% |
Current DrawdownCurrent decline from peak | -35.64% | -17.98% | -17.66% |
Average DrawdownAverage peak-to-trough decline | -28.33% | -24.62% | -3.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.22% | 18.50% | +11.72% |
Volatility
SAP vs. NTES - Volatility Comparison
SAP SE (SAP) has a higher volatility of 15.72% compared to NetEase, Inc. Sponsored ADR (NTES) at 11.85%. This indicates that SAP's price experiences larger fluctuations and is considered to be riskier than NTES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAP | NTES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.72% | 11.85% | +3.87% |
Volatility (6M)Calculated over the trailing 6-month period | 30.21% | 23.00% | +7.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.18% | 32.06% | +6.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.76% | 42.63% | -12.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.72% | 41.88% | -13.16% |
Dividends
SAP vs. NTES - Dividend Comparison
SAP's dividend yield for the trailing twelve months is around 1.48%, less than NTES's 2.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NTES NetEase, Inc. Sponsored ADR | 2.36% | 2.21% | 2.74% | 1.88% | 2.10% | 0.80% | 0.97% | 3.19% | 0.71% | 1.05% | 1.36% | 0.98% |
SAP SAP SE | 1.48% | 1.05% | 0.97% | 1.41% | 2.05% | 1.56% | 1.31% | 1.27% | 1.73% | 0.87% | 1.08% | 1.11% |
Financials
SAP vs. NTES - Financials Comparison
This section allows you to compare key financial metrics between SAP SE and NetEase, Inc. Sponsored ADR. 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. NTES - Profitability Comparison
SAP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, SAP SE reported a gross profit of 7.23B and revenue of 9.88B. Therefore, the gross margin over that period was 73.2%.
NTES - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, NetEase, Inc. Sponsored ADR reported a gross profit of 21.22B and revenue of 30.59B. Therefore, the gross margin over that period was 69.4%.
SAP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, SAP SE reported an operating income of 2.65B and revenue of 9.88B, resulting in an operating margin of 26.8%.
NTES - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, NetEase, Inc. Sponsored ADR reported an operating income of 12.66B and revenue of 30.59B, resulting in an operating margin of 41.4%.
SAP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, SAP SE reported a net income of 2.18B and revenue of 9.88B, resulting in a net margin of 22.1%.
NTES - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, NetEase, Inc. Sponsored ADR reported a net income of 10.67B and revenue of 30.59B, resulting in a net margin of 34.9%.
Frequently Asked Questions
SAP and NTES have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SAP has higher volatility (15.72%) compared to NTES (11.85%). In terms of maximum drawdown, SAP dropped -87.91% vs NTES's -96.54%.
NTES currently has the higher Sharpe Ratio (-0.00 vs -0.78), 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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