VIV vs. SPOT
VIV (Telefônica Brasil S.A.) and SPOT (Spotify Technology S.A.) are both stocks. Both are in the Communication Services sector — VIV in Telecom Services, SPOT in Internet Content & Information. Over the past 5 years, VIV returned 15.41%/yr vs 12.34%/yr for SPOT. At a 0.11 correlation, their price movements are largely independent.
Performance
VIV vs. SPOT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VIV achieves a 14.69% return, which is significantly higher than SPOT's -20.90% return.
VIV
- 1D
- 3.26%
- 1M
- -2.29%
- YTD
- 14.69%
- 6M
- 17.70%
- 1Y
- 28.10%
- 3Y*
- 20.58%
- 5Y*
- 15.41%
- 10Y*
- 8.19%
SPOT
- 1D
- -1.87%
- 1M
- -11.64%
- YTD
- -20.90%
- 6M
- -20.64%
- 1Y
- -35.07%
- 3Y*
- 42.88%
- 5Y*
- 12.34%
- 10Y*
- —
VIV vs. SPOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VIV Telefônica Brasil S.A. | 14.69% | 67.26% | -27.07% | 64.86% | -13.84% | 4.65% | -32.07% | 27.54% | -14.19% |
SPOT Spotify Technology S.A. | -20.90% | 29.80% | 138.08% | 138.01% | -66.27% | -25.62% | 110.40% | 31.76% | -31.59% |
Correlation
The correlation between VIV and SPOT is 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2018 | 0.11 |
Fundamentals
VIV:
$20.77B
SPOT:
$96.13B
VIV:
R$3.99
SPOT:
€12.94
VIV:
16.79
SPOT:
30.96
VIV:
5.04
SPOT:
0.34
VIV:
1.77
SPOT:
4.78
VIV:
1.56
SPOT:
10.45
VIV:
R$60.61B
SPOT:
€17.60B
VIV:
R$25.92B
SPOT:
€5.68B
VIV:
R$24.27B
SPOT:
€2.75B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VIV vs. SPOT — Risk / Return Rank
VIV
SPOT
VIV vs. SPOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Telefônica Brasil S.A. (VIV) and Spotify Technology S.A. (SPOT). 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.
| VIV | SPOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.74 | ||
| Sortino ratioReturn per unit of downside risk | +2.41 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.88 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.20 | -0.75 | +1.96 |
| Martin ratioReturn relative to average drawdown | 3.49 | -1.27 | +4.75 |
Loading charts...
Drawdowns
VIV vs. SPOT - Drawdown Comparison
The maximum VIV drawdown since its inception was -77.73%, roughly equal to the maximum SPOT drawdown of -80.51%. Use the drawdown chart below to compare losses from any high point for VIV and SPOT.
Loading charts...
Drawdown Indicators
| VIV | SPOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.73% | -80.51% | +2.78% |
Max Drawdown (1Y)Largest decline over 1 year | -23.44% | -46.80% | +23.36% |
Max Drawdown (3Y)Largest decline over 3 years | -30.17% | -46.80% | +16.63% |
Max Drawdown (5Y)Largest decline over 5 years | -40.76% | -76.39% | +35.63% |
Max Drawdown (10Y)Largest decline over 10 years | -47.57% | — | — |
Current DrawdownCurrent decline from peak | -20.95% | -40.80% | +19.85% |
Average DrawdownAverage peak-to-trough decline | -32.01% | -30.89% | -1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.08% | 27.73% | -19.65% |
Volatility
VIV vs. SPOT - Volatility Comparison
The current volatility for Telefônica Brasil S.A. (VIV) is 7.63%, while Spotify Technology S.A. (SPOT) has a volatility of 16.88%. This indicates that VIV experiences smaller price fluctuations and is considered to be less risky than SPOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VIV | SPOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.63% | 16.88% | -9.25% |
Volatility (6M)Calculated over the trailing 6-month period | 22.48% | 37.35% | -14.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.18% | 45.57% | -16.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.55% | 47.59% | -19.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.20% | 47.34% | -16.14% |
Dividends
VIV vs. SPOT - Dividend Comparison
VIV's dividend yield for the trailing twelve months is around 7.01%, while SPOT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPOT Spotify Technology S.A. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VIV Telefônica Brasil S.A. | 7.01% | 5.25% | 6.60% | 5.55% | 5.86% | 6.44% | 10.22% | 5.25% | 9.20% | 10.87% | 4.09% | 10.07% |
Financials
VIV vs. SPOT - Financials Comparison
This section allows you to compare key financial metrics between Telefônica Brasil S.A. and Spotify Technology 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
VIV vs. SPOT - Profitability Comparison
VIV - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Telefônica Brasil S.A. reported a gross profit of 6.17B and revenue of 15.17B. Therefore, the gross margin over that period was 40.7%.
SPOT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Spotify Technology S.A. reported a gross profit of 1.51B and revenue of 4.61B. Therefore, the gross margin over that period was 32.9%.
VIV - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Telefônica Brasil S.A. reported an operating income of 2.24B and revenue of 15.17B, resulting in an operating margin of 14.8%.
SPOT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Spotify Technology S.A. reported an operating income of 726.76M and revenue of 4.61B, resulting in an operating margin of 15.8%.
VIV - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Telefônica Brasil S.A. reported a net income of 1.24B and revenue of 15.17B, resulting in a net margin of 8.2%.
SPOT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Spotify Technology S.A. reported a net income of 732.86M and revenue of 4.61B, resulting in a net margin of 15.9%.
Frequently Asked Questions
VIV and SPOT have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPOT has higher volatility (16.88%) compared to VIV (7.63%). In terms of maximum drawdown, VIV dropped -77.73% vs SPOT's -80.51%.
VIV currently has the higher Sharpe Ratio (0.97 vs -0.77), 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.
Find the right allocation for VIV and SPOT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer