SPOT vs. ^OEX
SPOT (Spotify Technology S.A.) is a stock, while ^OEX (S&P 100 Index) is an index. Over the past 5 years, SPOT returned 13.62%/yr vs 12.89%/yr for ^OEX. At a 0.44 correlation, their price movements are largely independent.
Performance
SPOT vs. ^OEX - Performance Comparison
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Returns By Period
In the year-to-date period, SPOT achieves a -17.37% return, which is significantly lower than ^OEX's 7.70% return.
SPOT
- 1D
- 0.01%
- 1M
- -0.45%
- 6M
- -9.46%
- YTD
- -17.37%
- 1Y
- -32.34%
- 3Y*
- 40.77%
- 5Y*
- 13.62%
- 10Y*
- —
^OEX
- 1D
- -0.87%
- 1M
- 1.40%
- 6M
- 6.54%
- YTD
- 7.70%
- 1Y
- 20.26%
- 3Y*
- 20.75%
- 5Y*
- 12.89%
- 10Y*
- 14.48%
SPOT vs. ^OEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPOT Spotify Technology S.A. | -17.37% | 29.80% | 138.08% | 138.01% | -66.27% | -25.62% | 110.40% | 31.76% | -31.59% |
^OEX S&P 100 Index | 7.70% | 18.76% | 29.25% | 30.83% | -22.12% | 27.55% | 19.30% | 29.47% | -1.57% |
Correlation
The correlation between SPOT and ^OEX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2018 | 0.44 |
Over the past year, the correlation between SPOT and ^OEX has dropped to 0.22 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.
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Return for Risk
SPOT vs. ^OEX — Risk / Return Rank
SPOT
^OEX
SPOT vs. ^OEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Spotify Technology S.A. (SPOT) and S&P 100 Index (^OEX). 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.
| SPOT | ^OEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.24 | ||
| Sortino ratioReturn per unit of downside risk | -3.00 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.27 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 1.80 | -2.54 |
| Martin ratioReturn relative to average drawdown | -1.24 | 6.97 | -8.21 |
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Drawdowns
SPOT vs. ^OEX - Drawdown Comparison
The maximum SPOT drawdown since its inception was -80.51%, which is greater than ^OEX's maximum drawdown of -61.31%. Use the drawdown chart below to compare losses from any high point for SPOT and ^OEX.
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Drawdown Indicators
| SPOT | ^OEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.51% | -61.31% | -19.20% |
Max Drawdown (1Y)Largest decline over 1 year | -44.11% | -11.30% | -32.81% |
Max Drawdown (3Y)Largest decline over 3 years | -46.80% | -19.89% | -26.91% |
Max Drawdown (5Y)Largest decline over 5 years | -76.39% | -27.23% | -49.16% |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.53% | — |
Current DrawdownCurrent decline from peak | -38.16% | -2.28% | -35.88% |
Average DrawdownAverage peak-to-trough decline | -30.95% | -12.64% | -18.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.13% | 2.91% | +23.22% |
Volatility
SPOT vs. ^OEX - Volatility Comparison
Spotify Technology S.A. (SPOT) has a higher volatility of 9.79% compared to S&P 100 Index (^OEX) at 4.23%. This indicates that SPOT's price experiences larger fluctuations and is considered to be riskier than ^OEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPOT | ^OEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.79% | 4.23% | +5.56% |
Volatility (6M)Calculated over the trailing 6-month period | 37.47% | 10.70% | +26.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.06% | 13.45% | +31.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.63% | 17.89% | +29.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.25% | 18.49% | +28.76% |
Frequently Asked Questions
SPOT and ^OEX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPOT has higher volatility (9.79%) compared to ^OEX (4.23%). In terms of maximum drawdown, SPOT dropped -80.51% vs ^OEX's -61.31%.
^OEX currently has the higher Sharpe Ratio (1.52 vs -0.72), 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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