T vs. NOC

Last updated Jun 13, 2026

T (AT&T Inc.) and NOC (Northrop Grumman Corporation) are both stocks. T operates in Telecom Services (Communication Services), while NOC operates in Aerospace & Defense (Industrials). Over the past 10 years, T returned 3.33%/yr vs 11.53%/yr for NOC. At a 0.25 correlation, their price movements are largely independent.

Performance

T vs. NOC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AT&T Inc. (T) and Northrop Grumman Corporation (NOC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, T achieves a -2.96% return, which is significantly lower than NOC's -2.75% return. Over the past 10 years, T has underperformed NOC with an annualized return of 3.33%, while NOC has yielded a comparatively higher 11.53% annualized return.

T

• 1D: 2.52%
• 1M: -4.69%
• YTD: -2.96%
• 6M: -1.93%
• 1Y: -12.96%
• 3Y*: 20.58%
• 5Y*: 7.38%
• 10Y*: 3.33%

NOC

• 1D: -0.40%
• 1M: 0.17%
• YTD: -2.75%
• 6M: -2.67%
• 1Y: 12.44%
• 3Y*: 8.64%
• 5Y*: 9.73%
• 10Y*: 11.53%

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

T vs. NOC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
T AT&T Inc.	-2.96%	13.97%	44.08%	-2.74%	5.76%	-8.09%	-21.37%	45.55%	-22.25%	-4.01%
NOC Northrop Grumman Corporation	-2.75%	23.61%	1.93%	-12.79%	43.02%	29.29%	-9.92%	42.69%	-18.95%	33.88%

Correlation

The correlation between T and NOC is 0.06, 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	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jul 19, 1984	0.25

The correlation between T and NOC shifts across timeframes, from 0.06 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.

Fundamentals

EPS T : $3.04 NOC : $31.95
PE Ratio T : 7.74 NOC : 17.22
PEG Ratio T : 0.32 NOC : 2.54
PS Ratio T : 1.35 NOC : 1.86
Total Revenue (TTM) T : $125.65B NOC : $42.37B
Gross Profit (TTM) T : $105.41B NOC : $8.69B
EBITDA (TTM) T : $54.70B NOC : $7.50B

Return for Risk

T vs. NOC — Risk / Return Rank

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

T

T Risk / Return Rank: 18
T Sharpe Ratio Rank: 17
T Sortino Ratio Rank: 17
T Omega Ratio Rank: 18
T Calmar Ratio Rank: 21
T Martin Ratio Rank: 15

NOC

NOC Risk / Return Rank: 54
NOC Sharpe Ratio Rank: 59
NOC Sortino Ratio Rank: 53
NOC Omega Ratio Rank: 52
NOC Calmar Ratio Rank: 52
NOC Martin Ratio Rank: 54

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.

T vs. NOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AT&T Inc. (T) and Northrop Grumman Corporation (NOC). 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.

	T	NOC	Difference
Sharpe ratio: Return per unit of total volatility	-0.59	0.47	-1.06
Sortino ratio: Return per unit of downside risk	-0.72	0.87	-1.59
Omega ratio: Gain probability vs. loss probability	0.92	1.11	-0.19
Calmar ratio: Return relative to maximum drawdown	-0.59	0.40	-0.99
Martin ratio: Return relative to average drawdown	-1.22	1.02	-2.24

T vs. NOC - Sharpe Ratio Comparison

The current T Sharpe Ratio is -0.59, which is lower than the NOC Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of T and NOC, 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

T vs. NOC - Drawdown Comparison

The maximum T drawdown since its inception was -64.15%, smaller than the maximum NOC drawdown of -71.12%. Use the drawdown chart below to compare losses from any high point for T and NOC.

Drawdown Indicators

	T	NOC	Difference
Max Drawdown Largest peak-to-trough decline	-64.15%	-71.12%	+6.97%
Max Drawdown (1Y) Largest decline over 1 year	-21.87%	-31.20%	+9.33%
Max Drawdown (3Y) Largest decline over 3 years	-21.87%	-31.20%	+9.33%
Max Drawdown (5Y) Largest decline over 5 years	-32.01%	-31.20%	-0.81%
Max Drawdown (10Y) Largest decline over 10 years	-42.35%	-36.38%	-5.97%
Current Drawdown Current decline from peak	-18.12%	-28.03%	+9.91%
Average Drawdown Average peak-to-trough decline	-15.72%	-18.40%	+2.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.64%	12.25%	-1.61%

Volatility

T vs. NOC - Volatility Comparison

AT&T Inc. (T) has a higher volatility of 8.21% compared to Northrop Grumman Corporation (NOC) at 7.39%. This indicates that T's price experiences larger fluctuations and is considered to be riskier than NOC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	T	NOC	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.21%	7.39%	+0.82%
Volatility (6M) Calculated over the trailing 6-month period	17.80%	21.25%	-3.45%
Volatility (1Y) Calculated over the trailing 1-year period	22.13%	26.55%	-4.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.01%	25.28%	-1.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.73%	25.42%	-1.69%

Dividends

T vs. NOC - Dividend Comparison

T's dividend yield for the trailing twelve months is around 4.71%, more than NOC's 1.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NOC Northrop Grumman Corporation	1.71%	1.58%	1.72%	1.57%	1.24%	1.59%	1.86%	1.50%	1.92%	1.27%	1.50%	1.64%
T AT&T Inc.	4.71%	4.47%	4.87%	6.62%	6.66%	8.46%	7.23%	5.22%	7.01%	5.04%	4.51%	5.46%

Financials

Frequently Asked Questions

Can I hold both T and NOC in my portfolio?

T and NOC have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, T or NOC?

T has higher volatility (8.21%) compared to NOC (7.39%). In terms of maximum drawdown, T dropped -64.15% vs NOC's -71.12%.

Which has better risk-adjusted returns?

NOC currently has the higher Sharpe Ratio (0.47 vs -0.59), 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.