SHW vs. ^TNX
SHW (The Sherwin-Williams Company) is a stock, while ^TNX (Cboe 10-Year Treasury Note Yield Index) is an index. Over the past 10 years, SHW returned 13.83%/yr vs 10.69%/yr for ^TNX. At a 0.02 correlation, their price movements are largely independent.
Performance
SHW vs. ^TNX - Performance Comparison
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Returns By Period
In the year-to-date period, SHW achieves a -0.69% return, which is significantly lower than ^TNX's 7.35% return. Over the past 10 years, SHW has outperformed ^TNX with an annualized return of 13.83%, while ^TNX has yielded a comparatively lower 10.69% annualized return.
SHW
- 1D
- 0.93%
- 1M
- 6.99%
- YTD
- -0.69%
- 6M
- -2.03%
- 1Y
- -3.77%
- 3Y*
- 9.88%
- 5Y*
- 4.52%
- 10Y*
- 13.83%
^TNX
- 1D
- -0.40%
- 1M
- -2.74%
- YTD
- 7.35%
- 6M
- 6.86%
- 1Y
- 1.02%
- 3Y*
- 5.84%
- 5Y*
- 23.29%
- 10Y*
- 10.69%
SHW vs. ^TNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHW The Sherwin-Williams Company | -0.69% | -3.83% | 9.90% | 32.73% | -31.96% | 44.90% | 27.05% | 49.70% | -3.23% | 54.11% |
^TNX Cboe 10-Year Treasury Note Yield Index | 7.35% | -8.97% | 18.29% | -0.34% | 156.55% | 64.89% | -52.21% | -28.56% | 11.68% | -1.68% |
Correlation
The correlation between SHW and ^TNX is -0.42, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 1985 | 0.02 |
The correlation between SHW and ^TNX shifts across timeframes, from -0.42 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SHW vs. ^TNX — Risk / Return Rank
SHW
^TNX
SHW vs. ^TNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Sherwin-Williams Company (SHW) and Cboe 10-Year Treasury Note Yield Index (^TNX). 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.
| SHW | ^TNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.02 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 0.09 | -0.26 |
| Martin ratioReturn relative to average drawdown | -0.37 | 0.15 | -0.52 |
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Drawdowns
SHW vs. ^TNX - Drawdown Comparison
The maximum SHW drawdown since its inception was -52.02%, smaller than the maximum ^TNX drawdown of -96.85%. Use the drawdown chart below to compare losses from any high point for SHW and ^TNX.
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Drawdown Indicators
| SHW | ^TNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.02% | -96.85% | +44.83% |
Max Drawdown (1Y)Largest decline over 1 year | -21.36% | -11.94% | -9.42% |
Max Drawdown (3Y)Largest decline over 3 years | -25.69% | -27.41% | +1.72% |
Max Drawdown (5Y)Largest decline over 5 years | -42.46% | -27.41% | -15.05% |
Max Drawdown (10Y)Largest decline over 10 years | -42.46% | -84.57% | +42.11% |
Current DrawdownCurrent decline from peak | -18.78% | -71.79% | +53.01% |
Average DrawdownAverage peak-to-trough decline | -11.63% | -55.00% | +43.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.26% | 6.59% | +3.67% |
Volatility
SHW vs. ^TNX - Volatility Comparison
The Sherwin-Williams Company (SHW) has a higher volatility of 9.00% compared to Cboe 10-Year Treasury Note Yield Index (^TNX) at 5.03%. This indicates that SHW's price experiences larger fluctuations and is considered to be riskier than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHW | ^TNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.00% | 5.03% | +3.97% |
Volatility (6M)Calculated over the trailing 6-month period | 19.26% | 10.72% | +8.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.88% | 15.13% | +9.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.27% | 32.36% | -6.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.60% | 47.98% | -21.38% |
Frequently Asked Questions
SHW and ^TNX have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHW has higher volatility (9.00%) compared to ^TNX (5.03%). In terms of maximum drawdown, SHW dropped -52.02% vs ^TNX's -96.85%.
^TNX currently has the higher Sharpe Ratio (0.07 vs -0.15), 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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