UPM.HE vs. METSO.HE

Last updated Aug 1, 2026

UPM.HE (UPM-Kymmene Oyj) and METSO.HE (Metso Oyj) are both stocks. UPM.HE operates in Paper & Paper Products (Basic Materials), while METSO.HE operates in Farm & Heavy Construction Machinery (Industrials). Over the past 10 years, UPM.HE returned 7.42%/yr vs 17.10%/yr for METSO.HE. Their 0.47 correlation means their historical movements had little consistent relationship.

Performance

UPM.HE vs. METSO.HE - Performance Comparison

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

Returns By Period

In the year-to-date period, UPM.HE achieves a -2.40% return, which is significantly lower than METSO.HE's 9.00% return. Over the past 10 years, UPM.HE has underperformed METSO.HE with an annualized return of 7.42%, while METSO.HE has yielded a comparatively higher 17.10% annualized return.

UPM.HE

• 1D: 0.04%
• 1M: 2.08%
• 6M: 3.53%
• YTD: -2.40%
• 1Y: 11.08%
• 3Y*: -2.69%
• 5Y*: -2.96%
• 10Y*: 7.42%
• ALL TIME*: 6.45%

METSO.HE

• 1D: 0.31%
• 1M: 1.70%
• 6M: -1.16%
• YTD: 9.00%
• 1Y: 53.88%
• 3Y*: 20.10%
• 5Y*: 14.54%
• 10Y*: 17.10%
• ALL TIME*: 17.57%

*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)
METSO.HE Metso Oyj	€20.53M	€18.40M	€21.70M
UPM.HE UPM-Kymmene Oyj	€36.76M	€32.59M	€29.65M

UPM.HE vs. METSO.HE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UPM.HE UPM-Kymmene Oyj	-2.40%	-0.70%	-18.00%	2.38%	8.87%	14.34%	3.96%	46.28%	-11.11%	15.80%
METSO.HE Metso Oyj	9.00%	72.94%	1.57%	-1.54%	5.91%	16.80%	45.86%	87.62%	-56.76%	42.28%

Correlation

The correlation between UPM.HE and METSO.HE is 0.41, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.41
Correlation (3Y) Balances recent behavior with more history.	0.42
Correlation (5Y) Shows whether the relationship held over a longer period.	0.44
Correlation (10Y) Provides a long-term view across more market conditions.	0.46
Correlation (All Time) Calculated using the full available price history since Oct 10, 2006	0.47

Return for Risk

UPM.HE vs. METSO.HE — Risk / Return Rank

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

UPM.HE

UPM.HE Risk / Return Rank: 56
UPM.HE Sharpe Ratio Rank: 59
UPM.HE Sortino Ratio Rank: 52
UPM.HE Omega Ratio Rank: 51
UPM.HE Calmar Ratio Rank: 58
UPM.HE Martin Ratio Rank: 59

METSO.HE

METSO.HE Risk / Return Rank: 81
METSO.HE Sharpe Ratio Rank: 83
METSO.HE Sortino Ratio Rank: 82
METSO.HE Omega Ratio Rank: 78
METSO.HE Calmar Ratio Rank: 82
METSO.HE Martin Ratio Rank: 81

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.

UPM.HE vs. METSO.HE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UPM-Kymmene Oyj (UPM.HE) and Metso Oyj (METSO.HE). 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.

	UPM.HE	METSO.HE	Difference
Sharpe ratio: Return per unit of total volatility	0.41	1.38	-0.97
Sortino ratio: Return per unit of downside risk	0.74	2.16	-1.43
Omega ratio: Gain probability vs. loss probability	1.09	1.25	-0.16
Calmar ratio: Return relative to maximum drawdown	0.57	2.34	-1.78
Martin ratio: Return relative to average drawdown	1.35	5.61	-4.27

UPM.HE vs. METSO.HE - Sharpe Ratio Comparison

The current UPM.HE Sharpe Ratio is 0.41, which is lower than the METSO.HE Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of UPM.HE and METSO.HE, 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

UPM.HE vs. METSO.HE - Drawdown Comparison

The maximum UPM.HE drawdown since its inception was -74.52%, smaller than the maximum METSO.HE drawdown of -81.47%. Use the drawdown chart below to compare losses from any high point for UPM.HE and METSO.HE.

Drawdown Indicators

	UPM.HE	METSO.HE	Difference
Max Drawdown Largest peak-to-trough decline	-74.52%	-81.47%	+6.95%
Max Drawdown (1Y) Largest decline over 1 year	-17.59%	-21.48%	+3.89%
Max Drawdown (3Y) Largest decline over 3 years	-35.38%	-34.12%	-1.26%
Max Drawdown (5Y) Largest decline over 5 years	-35.38%	-37.54%	+2.16%
Max Drawdown (10Y) Largest decline over 10 years	-37.15%	-65.88%	+28.73%
Current Drawdown Current decline from peak	-26.09%	-8.68%	-17.41%
Average Drawdown Average peak-to-trough decline	-20.21%	-29.05%	+8.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.36%	8.95%	-1.59%

Volatility

UPM.HE vs. METSO.HE - Volatility Comparison

The current volatility for UPM-Kymmene Oyj (UPM.HE) is 10.09%, while Metso Oyj (METSO.HE) has a volatility of 12.67%. This indicates that UPM.HE experiences smaller price fluctuations and is considered to be less risky than METSO.HE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UPM.HE	METSO.HE	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.09%	12.67%	-2.58%
Volatility (6M) Calculated over the trailing 6-month period	18.60%	28.91%	-10.31%
Volatility (1Y) Calculated over the trailing 1-year period	24.59%	36.48%	-11.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.94%	35.00%	-10.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.77%	41.75%	-15.98%

Dividends

UPM.HE vs. METSO.HE - Dividend Comparison

UPM.HE's dividend yield for the trailing twelve months is around 6.38%, more than METSO.HE's 2.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
METSO.HE Metso Oyj	2.42%	2.54%	4.01%	3.27%	2.50%	2.14%	1.22%	0.00%	0.00%	0.00%	0.00%	2.94%
UPM.HE UPM-Kymmene Oyj	6.38%	6.05%	5.65%	4.40%	3.72%	3.89%	4.27%	4.21%	5.19%	3.67%	3.21%	4.06%

Financials

Frequently Asked Questions

Can I hold both UPM.HE and METSO.HE in my portfolio?

UPM.HE and METSO.HE have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.