SES vs. TMC

Last updated Aug 1, 2026

SES (SES AI Corp) and TMC (TMC the metals company Inc.) are both stocks. SES operates in Auto Parts (Consumer Cyclical), while TMC operates in Other Industrial Metals & Mining (Basic Materials). Over the past 3 years, SES returned -43.98%/yr vs 31.38%/yr for TMC. Their 0.22 correlation means their historical movements had little consistent relationship.

Performance

SES vs. TMC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SES AI Corp (SES) and TMC the metals company Inc. (TMC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SES achieves a -69.42% return, which is significantly lower than TMC's -42.30% return.

SES

• 1D: 1.68%
• 1M: -37.80%
• 6M: -72.89%
• YTD: -69.42%
• 1Y: -54.51%
• 3Y*: -43.98%
• 5Y*: -43.86%
• 10Y*: —
• ALL TIME*: -41.98%

TMC

• 1D: -1.66%
• 1M: -15.84%
• 6M: -46.22%
• YTD: -42.30%
• 1Y: -39.35%
• 3Y*: 31.38%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -20.69%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SES SES AI Corp	$12.92M	$11.53M	$11.54M
TMC TMC the metals company Inc.	$13.51M	$15.91M	$27.25M

SES vs. TMC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SES SES AI Corp	-69.42%	-17.81%	19.67%	-41.90%	-68.34%	0.61%
TMC TMC the metals company Inc.	-42.30%	450.89%	1.82%	42.86%	-62.98%	-81.18%

Correlation

The correlation between SES and TMC is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.54
Correlation (3Y) Balances recent behavior with more history.	0.28
Correlation (All Time) Calculated using the full available price history since Sep 10, 2021	0.22

Over the past year, SES and TMC have become more correlated (0.54) than their long-term average of 0.22, meaning their price movements have been converging.

Fundamentals

Market Cap SES : $200.58M TMC : $1.54B
EPS SES : -$0.22 TMC : -$0.00
Total Revenue (TTM) SES : $21.92M TMC : $0.00
Gross Profit (TTM) SES : $7.97M TMC : -$136.00K
EBITDA (TTM) SES : -$68.11M TMC : -$296.72M

Return for Risk

SES vs. TMC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SES

SES Risk / Return Rank: 22
SES Sharpe Ratio Rank: 20
SES Sortino Ratio Rank: 25
SES Omega Ratio Rank: 25
SES Calmar Ratio Rank: 19
SES Martin Ratio Rank: 20

TMC

TMC Risk / Return Rank: 26
TMC Sharpe Ratio Rank: 25
TMC Sortino Ratio Rank: 30
TMC Omega Ratio Rank: 30
TMC Calmar Ratio Rank: 22
TMC Martin Ratio Rank: 24

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SES vs. TMC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SES AI Corp (SES) and TMC the metals company Inc. (TMC). 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.

	SES	TMC	Difference
Sharpe ratio: Return per unit of total volatility	-0.54	-0.43	-0.11
Sortino ratio: Return per unit of downside risk	-0.36	-0.15	-0.21
Omega ratio: Gain probability vs. loss probability	0.96	0.98	-0.03
Calmar ratio: Return relative to maximum drawdown	-0.67	-0.59	-0.08
Martin ratio: Return relative to average drawdown	-1.08	-0.96	-0.12

SES vs. TMC - Sharpe Ratio Comparison

The current SES Sharpe Ratio is -0.54, which is comparable to the TMC Sharpe Ratio of -0.43. The chart below compares the historical Sharpe Ratios of SES and TMC, 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

SES vs. TMC - Drawdown Comparison

The maximum SES drawdown since its inception was -97.58%, roughly equal to the maximum TMC drawdown of -95.58%. Use the drawdown chart below to compare losses from any high point for SES and TMC.

Drawdown Indicators

	SES	TMC	Difference
Max Drawdown Largest peak-to-trough decline	-97.58%	-95.58%	-2.00%
Max Drawdown (1Y) Largest decline over 1 year	-85.79%	-67.73%	-18.06%
Max Drawdown (3Y) Largest decline over 3 years	-90.36%	-67.73%	-22.63%
Max Drawdown (5Y) Largest decline over 5 years	-97.58%	—	—
Current Drawdown Current decline from peak	-95.06%	-71.41%	-23.65%
Average Drawdown Average peak-to-trough decline	-66.42%	-79.08%	+12.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	53.30%	41.77%	+11.53%

Volatility

SES vs. TMC - Volatility Comparison

SES AI Corp (SES) has a higher volatility of 28.18% compared to TMC the metals company Inc. (TMC) at 18.46%. This indicates that SES's price experiences larger fluctuations and is considered to be riskier than TMC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SES	TMC	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.18%	18.46%	+9.72%
Volatility (6M) Calculated over the trailing 6-month period	77.35%	57.34%	+20.01%
Volatility (1Y) Calculated over the trailing 1-year period	106.97%	92.81%	+14.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	115.58%	112.10%	+3.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	111.04%	112.10%	-1.06%

Dividends

SES vs. TMC - Dividend Comparison

Neither SES nor TMC has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both SES and TMC in my portfolio?

SES and TMC have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SES or TMC?

SES has higher volatility (28.18%) compared to TMC (18.46%). In terms of maximum drawdown, SES dropped -97.58% vs TMC's -95.58%.

Which has better risk-adjusted returns?

TMC currently has the higher Sharpe Ratio (-0.43 vs -0.54), 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.