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 11.51%/yr vs 13.11%/yr for ^OEX. At a 0.45 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 -21.56% return, which is significantly lower than ^OEX's 5.15% return.
SPOT
- 1D
- -0.84%
- 1M
- -12.38%
- YTD
- -21.56%
- 6M
- -21.38%
- 1Y
- -37.70%
- 3Y*
- 42.48%
- 5Y*
- 11.51%
- 10Y*
- —
^OEX
- 1D
- -1.46%
- 1M
- -2.80%
- YTD
- 5.15%
- 6M
- 4.24%
- 1Y
- 22.49%
- 3Y*
- 21.03%
- 5Y*
- 13.11%
- 10Y*
- 14.89%
SPOT vs. ^OEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPOT Spotify Technology S.A. | -21.56% | 29.80% | 138.08% | 138.01% | -66.27% | -25.62% | 110.40% | 31.76% | -31.59% |
^OEX S&P 100 Index | 5.15% | 18.76% | 29.25% | 30.83% | -22.12% | 27.55% | 19.30% | 29.47% | -1.57% |
Correlation
The correlation between SPOT and ^OEX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
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 | 0.45 |
Over the past year, the correlation between SPOT and ^OEX has dropped to 0.23 - well below their long-term average of 0.45, 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 | -2.52 | ||
| Sortino ratioReturn per unit of downside risk | -3.43 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.30 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | 2.00 | -2.81 |
| Martin ratioReturn relative to average drawdown | -1.36 | 8.02 | -9.38 |
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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 | -46.80% | -11.30% | -35.50% |
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 | -41.29% | -4.59% | -36.70% |
Average DrawdownAverage peak-to-trough decline | -30.89% | -12.65% | -18.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.85% | 2.81% | +25.04% |
Volatility
SPOT vs. ^OEX - Volatility Comparison
Spotify Technology S.A. (SPOT) has a higher volatility of 11.25% compared to S&P 100 Index (^OEX) at 5.28%. 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 | 11.25% | 5.28% | +5.97% |
Volatility (6M)Calculated over the trailing 6-month period | 37.35% | 10.59% | +26.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.48% | 13.45% | +32.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.59% | 17.88% | +29.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.33% | 18.51% | +28.82% |
Frequently Asked Questions
SPOT and ^OEX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPOT has higher volatility (11.25%) compared to ^OEX (5.28%). In terms of maximum drawdown, SPOT dropped -80.51% vs ^OEX's -61.31%.
^OEX currently has the higher Sharpe Ratio (1.68 vs -0.83), 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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