THO vs. HOG

Last updated Jul 17, 2026

THO (Thor Industries, Inc.) and HOG (Harley-Davidson, Inc.) are both stocks. Both operate in the Recreational Vehicles industry within the Consumer Cyclical sector. Over the past 10 years, THO returned 2.48%/yr vs -3.43%/yr for HOG. At a 0.37 correlation, their price movements are largely independent.

Performance

THO vs. HOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thor Industries, Inc. (THO) and Harley-Davidson, Inc. (HOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THO achieves a -23.17% return, which is significantly lower than HOG's 33.24% return. Over the past 10 years, THO has outperformed HOG with an annualized return of 2.48%, while HOG has yielded a comparatively lower -3.43% annualized return.

THO

• 1D: 3.30%
• 1M: 3.92%
• 6M: -32.00%
• YTD: -23.17%
• 1Y: -10.69%
• 3Y*: -8.88%
• 5Y*: -4.08%
• 10Y*: 2.48%

HOG

• 1D: 3.31%
• 1M: 4.64%
• 6M: 29.57%
• YTD: 33.24%
• 1Y: 15.87%
• 3Y*: -6.42%
• 5Y*: -7.04%
• 10Y*: -3.43%

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

THO vs. HOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
THO Thor Industries, Inc.	-23.17%	9.74%	-17.90%	59.77%	-25.57%	13.26%	27.97%	46.47%	-64.79%	52.43%
HOG Harley-Davidson, Inc.	33.24%	-30.05%	-16.61%	-9.76%	12.13%	4.29%	0.19%	13.62%	-30.54%	-10.29%

Correlation

The correlation between THO and HOG is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Dec 30, 1987	0.37

The correlation between THO and HOG shifts across timeframes, from 0.37 (all time) to 0.61 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap THO : $4.03B HOG : $2.82B
EPS THO : $4.93 HOG : $1.99
PE Ratio THO : 15.70 HOG : 13.45
PS Ratio THO : 0.42 HOG : 0.99
Total Revenue (TTM) THO : $9.82B HOG : $3.14B
Gross Profit (TTM) THO : $1.21B HOG : $994.65M
EBITDA (TTM) THO : $489.04M HOG : $386.96M

Return for Risk

THO vs. HOG — Risk / Return Rank

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

THO

THO Risk / Return Rank: 32
THO Sharpe Ratio Rank: 32
THO Sortino Ratio Rank: 30
THO Omega Ratio Rank: 30
THO Calmar Ratio Rank: 35
THO Martin Ratio Rank: 35

HOG

HOG Risk / Return Rank: 55
HOG Sharpe Ratio Rank: 59
HOG Sortino Ratio Rank: 55
HOG Omega Ratio Rank: 53
HOG Calmar Ratio Rank: 54
HOG Martin Ratio Rank: 53

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.

THO vs. HOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thor Industries, Inc. (THO) and Harley-Davidson, Inc. (HOG). 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.

	THO	HOG	Difference
Sharpe ratio: Return per unit of total volatility	-0.28	0.39	-0.67
Sortino ratio: Return per unit of downside risk	-0.14	0.88	-1.02
Omega ratio: Gain probability vs. loss probability	0.98	1.10	-0.12
Calmar ratio: Return relative to maximum drawdown	-0.27	0.37	-0.64
Martin ratio: Return relative to average drawdown	-0.49	0.68	-1.16

THO vs. HOG - Sharpe Ratio Comparison

The current THO Sharpe Ratio is -0.28, which is lower than the HOG Sharpe Ratio of 0.39. The chart below compares the historical Sharpe Ratios of THO and HOG, 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

THO vs. HOG - Drawdown Comparison

The maximum THO drawdown since its inception was -79.55%, smaller than the maximum HOG drawdown of -88.26%. Use the drawdown chart below to compare losses from any high point for THO and HOG.

Drawdown Indicators

	THO	HOG	Difference
Max Drawdown Largest peak-to-trough decline	-79.55%	-88.26%	+8.71%
Max Drawdown (1Y) Largest decline over 1 year	-39.83%	-43.24%	+3.41%
Max Drawdown (3Y) Largest decline over 3 years	-48.40%	-58.74%	+10.34%
Max Drawdown (5Y) Largest decline over 5 years	-48.40%	-64.11%	+15.71%
Max Drawdown (10Y) Largest decline over 10 years	-76.94%	-73.28%	-3.66%
Current Drawdown Current decline from peak	-43.03%	-51.04%	+8.01%
Average Drawdown Average peak-to-trough decline	-24.20%	-24.50%	+0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.98%	23.52%	-1.54%

Volatility

THO vs. HOG - Volatility Comparison

Thor Industries, Inc. (THO) has a higher volatility of 11.14% compared to Harley-Davidson, Inc. (HOG) at 10.42%. This indicates that THO's price experiences larger fluctuations and is considered to be riskier than HOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THO	HOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.14%	10.42%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	27.63%	28.92%	-1.29%
Volatility (1Y) Calculated over the trailing 1-year period	38.57%	41.13%	-2.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.97%	40.48%	+0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.35%	42.48%	+1.87%

Dividends

THO vs. HOG - Dividend Comparison

THO's dividend yield for the trailing twelve months is around 2.69%, less than HOG's 2.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HOG Harley-Davidson, Inc.	2.74%	3.51%	2.29%	1.79%	1.51%	1.59%	1.20%	4.03%	4.34%	2.87%	2.40%	2.73%
THO Thor Industries, Inc.	2.69%	1.97%	1.53%	1.57%	2.33%	1.62%	1.74%	2.13%	2.92%	0.93%	1.26%	2.03%

Financials

Frequently Asked Questions

Can I hold both THO and HOG in my portfolio?

THO and HOG have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THO or HOG?

THO has higher volatility (11.14%) compared to HOG (10.42%). In terms of maximum drawdown, THO dropped -79.55% vs HOG's -88.26%.

Which has better risk-adjusted returns?

HOG currently has the higher Sharpe Ratio (0.39 vs -0.28), 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.