SPOT vs. AXON
SPOT (Spotify Technology S.A.) and AXON (Axon Enterprise, Inc.) are both stocks. SPOT operates in Internet Content & Information (Communication Services), while AXON operates in Aerospace & Defense (Industrials). Over the past 5 years, SPOT returned 11.51%/yr vs 20.87%/yr for AXON. At a 0.37 correlation, their price movements are largely independent.
Performance
SPOT vs. AXON - Performance Comparison
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Returns By Period
In the year-to-date period, SPOT achieves a -21.56% return, which is significantly higher than AXON's -23.75% return.
SPOT
- 1D
- -0.84%
- 1M
- -12.38%
- YTD
- -21.56%
- 6M
- -21.38%
- 1Y
- -37.70%
- 3Y*
- 42.48%
- 5Y*
- 11.51%
- 10Y*
- —
AXON
- 1D
- 5.61%
- 1M
- 12.19%
- YTD
- -23.75%
- 6M
- -26.73%
- 1Y
- -44.71%
- 3Y*
- 31.90%
- 5Y*
- 20.87%
- 10Y*
- 34.13%
SPOT vs. AXON - 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% |
AXON Axon Enterprise, Inc. | -23.75% | -4.44% | 130.06% | 55.69% | 5.69% | 28.13% | 67.21% | 67.50% | 10.82% |
Correlation
The correlation between SPOT and AXON is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2018 | 0.37 |
The correlation between SPOT and AXON shifts across timeframes, from 0.26 (1 year) to 0.41 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
SPOT:
$95.33B
AXON:
$35.72B
SPOT:
€12.94
AXON:
$2.41
SPOT:
30.81
AXON:
180.02
SPOT:
0.34
AXON:
0.05
SPOT:
4.76
AXON:
12.45
SPOT:
10.40
AXON:
10.11
SPOT:
€17.60B
AXON:
$2.98B
SPOT:
€5.68B
AXON:
$1.77B
SPOT:
€2.75B
AXON:
$156.24M
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Return for Risk
SPOT vs. AXON — Risk / Return Rank
SPOT
AXON
SPOT vs. AXON - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Spotify Technology S.A. (SPOT) and Axon Enterprise, Inc. (AXON). 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 | AXON | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.86 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | -0.74 | -0.06 |
| Martin ratioReturn relative to average drawdown | -1.36 | -1.24 | -0.12 |
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Drawdowns
SPOT vs. AXON - Drawdown Comparison
The maximum SPOT drawdown since its inception was -80.51%, smaller than the maximum AXON drawdown of -91.78%. Use the drawdown chart below to compare losses from any high point for SPOT and AXON.
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Drawdown Indicators
| SPOT | AXON | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.51% | -91.78% | +11.27% |
Max Drawdown (1Y)Largest decline over 1 year | -46.80% | -60.28% | +13.48% |
Max Drawdown (3Y)Largest decline over 3 years | -46.80% | -60.28% | +13.48% |
Max Drawdown (5Y)Largest decline over 5 years | -76.39% | -60.28% | -16.11% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.28% | — |
Current DrawdownCurrent decline from peak | -41.29% | -50.28% | +8.99% |
Average DrawdownAverage peak-to-trough decline | -30.89% | -43.61% | +12.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.85% | 36.20% | -8.35% |
Volatility
SPOT vs. AXON - Volatility Comparison
The current volatility for Spotify Technology S.A. (SPOT) is 11.25%, while Axon Enterprise, Inc. (AXON) has a volatility of 18.74%. This indicates that SPOT experiences smaller price fluctuations and is considered to be less risky than AXON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPOT | AXON | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.25% | 18.74% | -7.49% |
Volatility (6M)Calculated over the trailing 6-month period | 37.35% | 44.50% | -7.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.48% | 56.10% | -10.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.59% | 48.04% | -0.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.33% | 49.24% | -1.91% |
Dividends
SPOT vs. AXON - Dividend Comparison
Neither SPOT nor AXON has paid dividends to shareholders.
Financials
SPOT vs. AXON - Financials Comparison
This section allows you to compare key financial metrics between Spotify Technology S.A. and Axon Enterprise, Inc.. 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
SPOT vs. AXON - Profitability Comparison
SPOT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Spotify Technology S.A. reported a gross profit of 1.51B and revenue of 4.61B. Therefore, the gross margin over that period was 32.9%.
AXON - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Axon Enterprise, Inc. reported a gross profit of 477.29M and revenue of 807.35M. Therefore, the gross margin over that period was 59.1%.
SPOT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Spotify Technology S.A. reported an operating income of 726.76M and revenue of 4.61B, resulting in an operating margin of 15.8%.
AXON - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Axon Enterprise, Inc. reported an operating income of 29.24M and revenue of 807.35M, resulting in an operating margin of 3.6%.
SPOT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Spotify Technology S.A. reported a net income of 732.86M and revenue of 4.61B, resulting in a net margin of 15.9%.
AXON - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Axon Enterprise, Inc. reported a net income of 169.31M and revenue of 807.35M, resulting in a net margin of 21.0%.
Frequently Asked Questions
SPOT and AXON have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AXON has higher volatility (18.74%) compared to SPOT (11.25%). In terms of maximum drawdown, SPOT dropped -80.51% vs AXON's -91.78%.
AXON currently has the higher Sharpe Ratio (-0.80 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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