VEON vs. SAP
VEON (VEON Ltd.) and SAP (SAP SE) are both stocks. VEON operates in Telecom Services (Communication Services), while SAP operates in Software - Application (Technology). Over the past 10 years, VEON returned -2.27%/yr vs 10.53%/yr for SAP. At a 0.29 correlation, their price movements are largely independent.
Performance
VEON vs. SAP - Performance Comparison
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Returns By Period
In the year-to-date period, VEON achieves a 5.19% return, which is significantly higher than SAP's -20.08% return. Over the past 10 years, VEON has underperformed SAP with an annualized return of -2.27%, while SAP has yielded a comparatively higher 10.53% annualized return.
VEON
- 1D
- 0.38%
- 1M
- 9.96%
- YTD
- 5.19%
- 6M
- 6.37%
- 1Y
- 2.31%
- 3Y*
- 43.13%
- 5Y*
- 3.64%
- 10Y*
- -2.27%
SAP
- 1D
- -2.70%
- 1M
- 13.69%
- YTD
- -20.08%
- 6M
- -19.69%
- 1Y
- -36.28%
- 3Y*
- 14.25%
- 5Y*
- 8.40%
- 10Y*
- 10.53%
VEON vs. SAP - Yearly Performance Comparison
Correlation
The correlation between VEON and SAP is 0.01, 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 | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 1998 | 0.29 |
Over the past year, the correlation between VEON and SAP has dropped to 0.01 - well below their long-term average of 0.29, suggesting their price drivers have been diverging.
Fundamentals
VEON:
$3.95B
SAP:
$222.88B
VEON:
$8.09
SAP:
$6.13
VEON:
6.84
SAP:
31.15
VEON:
2.73
SAP:
0.66
VEON:
0.79
SAP:
6.00
VEON:
2.69
SAP:
4.97
VEON:
$4.59B
SAP:
$37.34B
VEON:
$3.63B
SAP:
$27.51B
VEON:
$1.69B
SAP:
$12.97B
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Return for Risk
VEON vs. SAP — Risk / Return Rank
VEON
SAP
VEON vs. SAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VEON Ltd. (VEON) and SAP SE (SAP). 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.
| VEON | SAP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.04 | -1.10 | +1.14 |
Sortino ratioReturn per unit of downside risk | 0.48 | -1.49 | +1.97 |
Omega ratioGain probability vs. loss probability | 1.06 | 0.80 | +0.26 |
Calmar ratioReturn relative to maximum drawdown | 0.15 | -0.75 | +0.90 |
Martin ratioReturn relative to average drawdown | 0.27 | -1.32 | +1.58 |
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
| VEON | SAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.04 | -1.10 | +1.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.30 | -0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.04 | 0.37 | -0.42 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | 0.15 | -0.11 |
Drawdowns
VEON vs. SAP - Drawdown Comparison
The maximum VEON drawdown since its inception was -98.74%, which is greater than SAP's maximum drawdown of -87.91%. Use the drawdown chart below to compare losses from any high point for VEON and SAP.
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Drawdown Indicators
| VEON | SAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.74% | -87.91% | -10.83% |
Max Drawdown (1Y)Largest decline over 1 year | -30.54% | -47.71% | +17.17% |
Max Drawdown (3Y)Largest decline over 3 years | -32.15% | -47.71% | +15.56% |
Max Drawdown (5Y)Largest decline over 5 years | -88.66% | -47.71% | -40.95% |
Max Drawdown (10Y)Largest decline over 10 years | -92.52% | -51.31% | -41.21% |
Current DrawdownCurrent decline from peak | -89.42% | -37.76% | -51.66% |
Average DrawdownAverage peak-to-trough decline | -62.58% | -28.23% | -34.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.56% | 27.28% | -10.72% |
Volatility
VEON vs. SAP - Volatility Comparison
VEON Ltd. (VEON) has a higher volatility of 15.38% compared to SAP SE (SAP) at 11.84%. This indicates that VEON's price experiences larger fluctuations and is considered to be riskier than SAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEON | SAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.38% | 11.84% | +3.54% |
Volatility (6M)Calculated over the trailing 6-month period | 34.41% | 29.34% | +5.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.66% | 33.16% | +23.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 69.18% | 28.50% | +40.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.98% | 28.25% | +27.73% |
Dividends
VEON vs. SAP - Dividend Comparison
VEON has not paid dividends to shareholders, while SAP's dividend yield for the trailing twelve months is around 1.53%.
Financials
VEON vs. SAP - Financials Comparison
This section allows you to compare key financial metrics between VEON Ltd. and SAP SE. 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
VEON vs. SAP - Profitability Comparison
VEON - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, VEON Ltd. reported a gross profit of 844.74M and revenue of 1.21B. Therefore, the gross margin over that period was 70.0%.
SAP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, SAP SE reported a gross profit of 6.97B and revenue of 9.56B. Therefore, the gross margin over that period was 73.0%.
VEON - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, VEON Ltd. reported an operating income of 309.37M and revenue of 1.21B, resulting in an operating margin of 25.7%.
SAP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, SAP SE reported an operating income of 2.75B and revenue of 9.56B, resulting in an operating margin of 28.8%.
VEON - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, VEON Ltd. reported a net income of 99.44M and revenue of 1.21B, resulting in a net margin of 8.2%.
SAP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, SAP SE reported a net income of 1.93B and revenue of 9.56B, resulting in a net margin of 20.2%.
Frequently Asked Questions
VEON and SAP have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VEON has higher volatility (15.38%) compared to SAP (11.84%). In terms of maximum drawdown, VEON dropped -98.74% vs SAP's -87.91%.
VEON currently has the higher Sharpe Ratio (0.04 vs -1.10), 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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