TX vs. VALE
TX (Ternium S.A.) and VALE (Vale S.A.) are both stocks. Both are in the Basic Materials sector — TX in Steel, VALE in Other Industrial Metals & Mining. Over the past 10 years, TX returned 15.80%/yr vs 21.28%/yr for VALE. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
TX vs. VALE - Performance Comparison
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Returns By Period
In the year-to-date period, TX achieves a 34.28% return, which is significantly higher than VALE's 23.25% return. Over the past 10 years, TX has underperformed VALE with an annualized return of 15.80%, while VALE has yielded a comparatively higher 21.28% annualized return.
TX
- 1D
- -2.77%
- 1M
- 19.93%
- YTD
- 34.28%
- 6M
- 33.41%
- 1Y
- 83.30%
- 3Y*
- 15.64%
- 5Y*
- 14.01%
- 10Y*
- 15.80%
VALE
- 1D
- -4.52%
- 1M
- 1.39%
- YTD
- 23.25%
- 6M
- 22.91%
- 1Y
- 81.55%
- 3Y*
- 14.29%
- 5Y*
- 2.79%
- 10Y*
- 21.28%
TX vs. VALE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TX Ternium S.A. | 34.28% | 43.56% | -25.86% | 49.94% | -24.80% | 60.96% | 32.18% | -14.86% | -11.86% | 36.48% |
VALE Vale S.A. | 23.25% | 60.70% | -38.83% | 1.57% | 32.54% | -1.45% | 32.40% | 2.72% | 12.25% | 68.03% |
Correlation
The correlation between TX and VALE is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2006 | 0.58 |
The correlation between TX and VALE has been stable across timeframes, ranging from 0.57 to 0.61 - a consistent structural relationship.
Fundamentals
TX:
$9.78B
VALE:
$68.65B
TX:
$2.90
VALE:
$0.65
TX:
17.15
VALE:
24.58
TX:
0.63
VALE:
1.74
TX:
0.80
VALE:
1.87
TX:
$15.58B
VALE:
$39.53B
TX:
$2.44B
VALE:
$13.65B
TX:
$1.62B
VALE:
$14.33B
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Return for Risk
TX vs. VALE — Risk / Return Rank
TX
VALE
TX vs. VALE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ternium S.A. (TX) and Vale S.A. (VALE). 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 | VALE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.41 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.88 | 4.13 | +0.75 |
| Martin ratioReturn relative to average drawdown | 15.92 | 14.77 | +1.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TX | VALE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.74 | 2.60 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.08 | +0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.52 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.31 | -0.14 |
Drawdowns
TX vs. VALE - Drawdown Comparison
The maximum TX drawdown since its inception was -89.66%, roughly equal to the maximum VALE drawdown of -92.78%. Use the drawdown chart below to compare losses from any high point for TX and VALE.
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Drawdown Indicators
| TX | VALE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.66% | -92.78% | +3.12% |
Max Drawdown (1Y)Largest decline over 1 year | -17.17% | -19.85% | +2.68% |
Max Drawdown (3Y)Largest decline over 3 years | -42.04% | -41.94% | -0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -49.48% | -49.79% | +0.31% |
Max Drawdown (10Y)Largest decline over 10 years | -74.94% | -57.60% | -17.34% |
Current DrawdownCurrent decline from peak | -2.77% | -9.88% | +7.11% |
Average DrawdownAverage peak-to-trough decline | -31.30% | -36.73% | +5.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.25% | 5.54% | -0.29% |
Volatility
TX vs. VALE - Volatility Comparison
Ternium S.A. (TX) has a higher volatility of 15.68% compared to Vale S.A. (VALE) at 9.10%. This indicates that TX's price experiences larger fluctuations and is considered to be riskier than VALE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TX | VALE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.68% | 9.10% | +6.58% |
Volatility (6M)Calculated over the trailing 6-month period | 23.60% | 26.50% | -2.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.52% | 31.56% | -1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.34% | 35.41% | -0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.92% | 41.00% | -3.08% |
Dividends
TX vs. VALE - Dividend Comparison
TX's dividend yield for the trailing twelve months is around 4.42%, more than VALE's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TX Ternium S.A. | 4.42% | 7.07% | 10.66% | 6.83% | 8.84% | 6.66% | 0.00% | 5.45% | 4.06% | 3.17% | 3.73% | 7.24% |
VALE Vale S.A. | 3.58% | 7.29% | 11.41% | 7.75% | 8.63% | 19.70% | 2.72% | 2.63% | 4.16% | 3.77% | 1.06% | 7.48% |
Financials
TX vs. VALE - Financials Comparison
This section allows you to compare key financial metrics between Ternium S.A. and Vale S.A.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
TX vs. VALE - Profitability Comparison
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%.
VALE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Vale S.A. reported a gross profit of 3.06B and revenue of 9.26B. Therefore, the gross margin over that period was 33.0%.
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%.
VALE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Vale S.A. reported an operating income of 2.67B and revenue of 9.26B, resulting in an operating margin of 28.8%.
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%.
VALE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Vale S.A. reported a net income of 1.89B and revenue of 9.26B, resulting in a net margin of 20.5%.
Frequently Asked Questions
TX and VALE have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TX has higher volatility (15.68%) compared to VALE (9.10%). In terms of maximum drawdown, TX dropped -89.66% vs VALE's -92.78%.
TX currently has the higher Sharpe Ratio (2.74 vs 2.60), 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.
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