TX vs. SID

Last updated Jun 3, 2026

TX (Ternium S.A.) and SID (Companhia Siderúrgica Nacional) are both stocks. Both operate in the Steel industry within the Basic Materials sector. Over the past 10 years, TX returned 16.13%/yr vs 1.22%/yr for SID. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

TX vs. SID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ternium S.A. (TX) and Companhia Siderúrgica Nacional (SID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TX achieves a 38.11% return, which is significantly higher than SID's -11.25% return. Over the past 10 years, TX has outperformed SID with an annualized return of 16.13%, while SID has yielded a comparatively lower 1.22% annualized return.

TX

• 1D: 4.40%
• 1M: 21.56%
• YTD: 38.11%
• 6M: 39.98%
• 1Y: 87.60%
• 3Y*: 16.72%
• 5Y*: 14.57%
• 10Y*: 16.13%

SID

• 1D: 8.40%
• 1M: 10.08%
• YTD: -11.25%
• 6M: -12.35%
• 1Y: -1.39%
• 3Y*: -14.55%
• 5Y*: -24.68%
• 10Y*: 1.22%

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

TX vs. SID - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TX Ternium S.A.	38.11%	43.56%	-25.86%	49.94%	-24.80%	60.96%	32.18%	-14.86%	-11.86%	36.48%
SID Companhia Siderúrgica Nacional	-11.25%	11.11%	-59.60%	69.73%	-29.68%	-22.18%	72.67%	68.56%	-10.61%	-24.15%

Correlation

The correlation between TX and SID is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Feb 2, 2006	0.54

The correlation between TX and SID has been stable across timeframes, ranging from 0.51 to 0.55 - a consistent structural relationship.

Fundamentals

Market Cap TX : $10.06B SID : $1.88B
EPS TX : $2.90 SID : -$1.51
PS Ratio TX : 0.65 SID : 0.04
PB Ratio TX : 0.82 SID : 0.15
Total Revenue (TTM) TX : $15.58B SID : $44.47B
Gross Profit (TTM) TX : $2.44B SID : $12.14B
EBITDA (TTM) TX : $1.62B SID : $7.32B

Return for Risk

TX vs. SID — Risk / Return Rank

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

TX

TX Risk / Return Rank: 93
TX Sharpe Ratio Rank: 94
TX Sortino Ratio Rank: 93
TX Omega Ratio Rank: 91
TX Calmar Ratio Rank: 93
TX Martin Ratio Rank: 94

SID

SID Risk / Return Rank: 38
SID Sharpe Ratio Rank: 39
SID Sortino Ratio Rank: 38
SID Omega Ratio Rank: 37
SID Calmar Ratio Rank: 39
SID Martin Ratio Rank: 38

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.

TX vs. SID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ternium S.A. (TX) and Companhia Siderúrgica Nacional (SID). 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.

	TX	SID	Difference
Sharpe ratio Return per unit of total volatility	2.90	-0.03	+2.93
Sortino ratio Return per unit of downside risk	3.70	0.37	+3.34
Omega ratio Gain probability vs. loss probability	1.46	1.04	+0.41
Calmar ratio Return relative to maximum drawdown	5.68	-0.04	+5.72
Martin ratio Return relative to average drawdown	18.58	-0.10	+18.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TX vs. SID - Sharpe Ratio Comparison

The current TX Sharpe Ratio is 2.90, which is higher than the SID Sharpe Ratio of -0.03. The chart below compares the historical Sharpe Ratios of TX and SID, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TX	SID	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.90	-0.03	+2.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	-0.47	+0.88
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.02	+0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.18	-0.01

Drawdowns

TX vs. SID - Drawdown Comparison

The maximum TX drawdown since its inception was -89.66%, smaller than the maximum SID drawdown of -95.79%. Use the drawdown chart below to compare losses from any high point for TX and SID.

Drawdown Indicators

	TX	SID	Difference
Max Drawdown Largest peak-to-trough decline	-89.66%	-95.79%	+6.13%
Max Drawdown (1Y) Largest decline over 1 year	-17.17%	-47.64%	+30.47%
Max Drawdown (3Y) Largest decline over 3 years	-42.04%	-69.41%	+27.37%
Max Drawdown (5Y) Largest decline over 5 years	-49.48%	-82.09%	+32.61%
Max Drawdown (10Y) Largest decline over 10 years	-74.94%	-82.86%	+7.92%
Current Drawdown Current decline from peak	0.00%	-86.41%	+86.41%
Average Drawdown Average peak-to-trough decline	-31.30%	-51.63%	+20.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.25%	21.44%	-16.19%

Volatility

TX vs. SID - Volatility Comparison

The current volatility for Ternium S.A. (TX) is 15.40%, while Companhia Siderúrgica Nacional (SID) has a volatility of 20.59%. This indicates that TX experiences smaller price fluctuations and is considered to be less risky than SID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TX	SID	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.40%	20.59%	-5.19%
Volatility (6M) Calculated over the trailing 6-month period	23.41%	46.06%	-22.65%
Volatility (1Y) Calculated over the trailing 1-year period	30.78%	55.89%	-25.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.32%	53.26%	-17.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.92%	59.60%	-21.68%

Dividends

TX vs. SID - Dividend Comparison

TX's dividend yield for the trailing twelve months is around 4.29%, while SID has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SID Companhia Siderúrgica Nacional	0.00%	0.00%	15.93%	12.83%	14.31%	8.41%	0.03%	6.89%	0.00%	0.00%	0.00%	14.30%
TX Ternium S.A.	4.29%	7.07%	10.66%	6.83%	8.84%	6.66%	0.00%	5.45%	4.06%	3.17%	3.73%	7.24%

Financials

TX vs. SID - Profitability Comparison

The chart below illustrates the profitability comparison between Ternium S.A. and Companhia Siderúrgica Nacional over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

TX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Ternium S.A. reported a gross profit of 686.87M and revenue of 3.93B. Therefore, the gross margin over that period was 17.5%.

SID - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Companhia Siderúrgica Nacional reported a gross profit of 2.41B and revenue of 10.41B. Therefore, the gross margin over that period was 23.1%.

TX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Ternium S.A. reported an operating income of 290.07M and revenue of 3.93B, resulting in an operating margin of 7.4%.

SID - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Companhia Siderúrgica Nacional reported an operating income of 803.82M and revenue of 10.41B, resulting in an operating margin of 7.7%.

TX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Ternium S.A. reported a net income of 213.02M and revenue of 3.93B, resulting in a net margin of 5.4%.

SID - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Companhia Siderúrgica Nacional reported a net income of -604.01M and revenue of 10.41B, resulting in a net margin of -5.8%.

Frequently Asked Questions

Can I hold both TX and SID in my portfolio?

TX and SID have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TX or SID?

SID has higher volatility (20.59%) compared to TX (15.40%). In terms of maximum drawdown, TX dropped -89.66% vs SID's -95.79%.

Which has better risk-adjusted returns?

TX currently has the higher Sharpe Ratio (2.90 vs -0.03), 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.