STERV.HE vs. UPMMY

Last updated Aug 1, 2026

STERV.HE (Stora Enso Oyj R) and UPMMY (UPM-Kymmene Oyj) are both stocks. Both operate in the Paper & Paper Products industry within the Basic Materials sector. Over the past 5 years, STERV.HE returned -7.25%/yr vs -2.97%/yr for UPMMY. Their 0.68 correlation means they have sometimes moved together and sometimes differently.

Performance

STERV.HE vs. UPMMY - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Stora Enso Oyj R (STERV.HE) and UPM-Kymmene Oyj (UPMMY). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

STERV.HE is traded in EUR, while UPMMY is traded in USD. To make them comparable, the UPMMY values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, STERV.HE achieves a -5.96% return, which is significantly lower than UPMMY's -2.10% return.

STERV.HE

• 1D: -0.70%
• 1M: 5.86%
• 6M: 3.40%
• YTD: -5.96%
• 1Y: 13.33%
• 3Y*: -2.06%
• 5Y*: -7.25%
• 10Y*: 5.35%
• ALL TIME*: 2.58%

UPMMY

• 1D: -0.20%
• 1M: 1.98%
• 6M: 3.52%
• YTD: -2.10%
• 1Y: 10.67%
• 3Y*: -2.70%
• 5Y*: -2.97%
• 10Y*: —
• ALL TIME*: 4.16%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
STERV.HE Stora Enso Oyj R	€22.29M	€16.85M	€17.74M
UPMMY UPM-Kymmene Oyj	€4.31M	€3.84M	€2.78M

STERV.HE vs. UPMMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
STERV.HE Stora Enso Oyj R	-5.96%	13.11%	-20.98%	0.18%	-15.74%	5.03%	23.55%	29.44%
UPMMY UPM-Kymmene Oyj	-2.10%	-2.02%	-17.70%	2.72%	8.67%	15.23%	3.59%	26.02%

Correlation

The correlation between STERV.HE and UPMMY is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.74
Correlation (3Y) Balances recent behavior with more history.	0.70
Correlation (5Y) Shows whether the relationship held over a longer period.	0.67
Correlation (All Time) Calculated using the full available price history since Sep 3, 2019	0.68

The correlation between STERV.HE and UPMMY has been stable across timeframes, ranging from 0.67 to 0.74 - a consistent structural relationship.

Return for Risk

STERV.HE vs. UPMMY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

STERV.HE

STERV.HE Risk / Return Rank: 56
STERV.HE Sharpe Ratio Rank: 60
STERV.HE Sortino Ratio Rank: 54
STERV.HE Omega Ratio Rank: 53
STERV.HE Calmar Ratio Rank: 58
STERV.HE Martin Ratio Rank: 57

UPMMY

UPMMY Risk / Return Rank: 56
UPMMY Sharpe Ratio Rank: 60
UPMMY Sortino Ratio Rank: 53
UPMMY Omega Ratio Rank: 52
UPMMY Calmar Ratio Rank: 57
UPMMY Martin Ratio Rank: 59

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

STERV.HE vs. UPMMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Stora Enso Oyj R (STERV.HE) and UPM-Kymmene Oyj (UPMMY). 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.

	STERV.HE	UPMMY	Difference
Sharpe ratio: Return per unit of total volatility	0.41	0.38	+0.03
Sortino ratio: Return per unit of downside risk	0.80	0.72	+0.09
Omega ratio: Gain probability vs. loss probability	1.10	1.09	+0.01
Calmar ratio: Return relative to maximum drawdown	0.56	0.54	+0.03
Martin ratio: Return relative to average drawdown	1.05	1.29	-0.24

STERV.HE vs. UPMMY - Sharpe Ratio Comparison

The current STERV.HE Sharpe Ratio is 0.41, which is comparable to the UPMMY Sharpe Ratio of 0.38. The chart below compares the historical Sharpe Ratios of STERV.HE and UPMMY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

STERV.HE vs. UPMMY - Drawdown Comparison

The maximum STERV.HE drawdown since its inception was -80.31%, which is greater than UPMMY's maximum drawdown of -36.09%. Use the drawdown chart below to compare losses from any high point for STERV.HE and UPMMY.

Drawdown Indicators

	STERV.HE	UPMMY	Difference
Max Drawdown Largest peak-to-trough decline	-80.31%	-36.09%	-44.22%
Max Drawdown (1Y) Largest decline over 1 year	-23.29%	-17.93%	-5.36%
Max Drawdown (3Y) Largest decline over 3 years	-45.47%	-36.09%	-9.38%
Max Drawdown (5Y) Largest decline over 5 years	-59.57%	-36.09%	-23.48%
Max Drawdown (10Y) Largest decline over 10 years	-59.57%	—	—
Current Drawdown Current decline from peak	-44.05%	-26.33%	-17.72%
Average Drawdown Average peak-to-trough decline	-33.25%	-13.28%	-19.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.35%	7.41%	+4.94%

Volatility

STERV.HE vs. UPMMY - Volatility Comparison

Stora Enso Oyj R (STERV.HE) has a higher volatility of 11.74% compared to UPM-Kymmene Oyj (UPMMY) at 10.19%. This indicates that STERV.HE's price experiences larger fluctuations and is considered to be riskier than UPMMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	STERV.HE	UPMMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.74%	10.19%	+1.55%
Volatility (6M) Calculated over the trailing 6-month period	23.96%	18.82%	+5.14%
Volatility (1Y) Calculated over the trailing 1-year period	32.00%	25.47%	+6.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.87%	25.16%	+7.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.82%	26.79%	+5.03%

Dividends

STERV.HE vs. UPMMY - Dividend Comparison

STERV.HE's dividend yield for the trailing twelve months is around 2.52%, less than UPMMY's 6.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
STERV.HE Stora Enso Oyj R	2.52%	2.33%	2.06%	4.79%	4.18%	1.86%	1.92%	3.86%	4.06%	2.80%	3.23%	3.58%
UPMMY UPM-Kymmene Oyj	6.50%	5.69%	5.87%	4.33%	3.95%	4.13%	3.82%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both STERV.HE and UPMMY in my portfolio?

STERV.HE and UPMMY have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.