SPOT vs. VRNA

Last updated Jun 23, 2026

SPOT (Spotify Technology S.A.) and VRNA (Verona Pharma plc) are both stocks. SPOT operates in Internet Content & Information (Communication Services), while VRNA operates in Biotechnology (Healthcare). At a 0.15 correlation, their price movements are largely independent.

Performance

SPOT vs. VRNA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Spotify Technology S.A. (SPOT) and Verona Pharma plc (VRNA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPOT

• 1D: -1.87%
• 1M: -11.64%
• YTD: -20.90%
• 6M: -20.64%
• 1Y: -35.07%
• 3Y*: 42.88%
• 5Y*: 12.34%
• 10Y*: —

VRNA

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPOT vs. VRNA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SPOT Spotify Technology S.A.	-20.90%	29.80%	138.08%	138.01%	-66.27%	-25.62%	110.40%	31.76%	-31.59%
VRNA Verona Pharma plc	0.00%	130.21%	133.60%	-23.92%	288.84%	-4.00%	21.74%	-40.41%	-48.56%

Correlation

The correlation between SPOT and VRNA is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (All Time) Calculated using the full available price history since Apr 3, 2018	0.15

The correlation between SPOT and VRNA shifts across timeframes, from 0.02 (1 year) to 0.18 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap SPOT : $96.13B VRNA : $9.72B
EPS SPOT : €12.94 VRNA : -$0.69
PS Ratio SPOT : 4.78 VRNA : 57.97
PB Ratio SPOT : 10.45 VRNA : 34.92
Total Revenue (TTM) SPOT : €17.60B VRNA : $167.65M
Gross Profit (TTM) SPOT : €5.68B VRNA : $159.52M
EBITDA (TTM) SPOT : €2.75B VRNA : -$40.86M

Return for Risk

SPOT vs. VRNA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPOT

SPOT Risk / Return Rank: 12
SPOT Sharpe Ratio Rank: 10
SPOT Sortino Ratio Rank: 12
SPOT Omega Ratio Rank: 12
SPOT Calmar Ratio Rank: 14
SPOT Martin Ratio Rank: 12

VRNA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPOT vs. VRNA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spotify Technology S.A. (SPOT) and Verona Pharma plc (VRNA). 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	VRNA	Difference
Sharpe ratio: Return per unit of total volatility	-0.77	—	—
Sortino ratio: Return per unit of downside risk	-1.00	—	—
Omega ratio: Gain probability vs. loss probability	0.88	—	—
Calmar ratio: Return relative to maximum drawdown	-0.75	—	—
Martin ratio: Return relative to average drawdown	-1.27	—	—

Drawdowns

Drawdown Indicators

	SPOT	VRNA	Difference
Max Drawdown Largest peak-to-trough decline	-80.51%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-46.80%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-46.80%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-76.39%	—	—
Current Drawdown Current decline from peak	-40.80%	—	—
Average Drawdown Average peak-to-trough decline	-30.89%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	27.73%	—	—

Volatility

Volatility by Period

	SPOT	VRNA	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.88%	—	—
Volatility (6M) Calculated over the trailing 6-month period	37.35%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	45.57%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.59%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.34%	—	—

Dividends

SPOT vs. VRNA - Dividend Comparison

Neither SPOT nor VRNA has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

SPOT vs. VRNA - Profitability Comparison

The chart below illustrates the profitability comparison between Spotify Technology S.A. and Verona Pharma plc over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

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%.

VRNA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Verona Pharma plc reported a gross profit of 71.68M and revenue of 75.14M. Therefore, the gross margin over that period was 95.4%.

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%.

VRNA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Verona Pharma plc reported an operating income of 9.69M and revenue of 75.14M, resulting in an operating margin of 12.9%.

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%.

VRNA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Verona Pharma plc reported a net income of 8.69M and revenue of 75.14M, resulting in a net margin of 11.6%.

Frequently Asked Questions

Can I hold both SPOT and VRNA in my portfolio?

SPOT and VRNA have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.