Cite This Comparison
"Micron Technology vs Nvidia (MU vs NVDA): Returns, Risk & Volatility (2026)." Gale Finance, January 9, 2026. https://www.gale.finance/compare/mu-vs-nvda Free to use with attribution. Please link back to this page or gale.finance.
Analysis period: 2025-01-13 to 2026-01-09
Relative Performance of MU vs NVDA (Normalized to 100)
Normalized to 100 at start date for comparison
Key Takeaways
- Total Return: MU delivered a +264.2% total return, while NVDA returned +38.8% over the same period. MU outperformed on total returns.
- Risk-Adjusted Return (Sharpe Ratio): MU had a higher Sharpe (2.32 vs 0.84), indicating better risk-adjusted performance.
- Volatility (Annualized): MU was more volatile, with 63.4% annualized volatility, versus 48.8% for NVDA.
- Maximum Drawdown: NVDA's maximum drawdown was -35.9%, while MU experienced a deeper drawdown of -40.8%.
- Tail Risk (VaR & Expected Shortfall): At the 5% level (daily log returns), MU's VaR was -5.52% and its Expected Shortfall (CVaR) was -9.10%; NVDA's were -4.50% and -7.44%. VaR is the cutoff; Expected Shortfall is the average move on the worst days.
- Skew & Kurtosis: Skew: MU -0.40 vs NVDA -0.54. Excess kurtosis: MU 3.08 vs NVDA 8.46. Negative skew leans downside; higher excess kurtosis means fatter tails.
- Tail Days & Extremes: 2σ tail days (down/up): MU 6/5, NVDA 7/2. Worst day: MU -17.55% (2025-04-03) vs NVDA -18.59% (2025-01-27). Best day: MU +17.24% (2025-04-09) vs NVDA +17.16% (2025-04-09).
Micron Technology vs Nvidia Correlation
Micron Technology and Nvidia are moderately correlated over the past year. With a correlation of 0.59, these assets show moderate co-movement, offering some diversification when held together.
For portfolio construction, this moderate correlation offers some diversification benefit, though the assets still tend to move together during major market moves.
| Metric | Metric | Value |
|---|---|---|
| Current (30-day) | 0.40 | |
| Average (full period) | 0.59 | |
| Minimum | 0.22 | |
| Maximum | 0.91 |
Correlation measures how closely two assets move together. Values near +1 indicate strong co-movement, near 0 indicates independence, and negative values indicate inverse movement.
Investment Comparison
If you invested $10,000 in each asset on January 13, 2025:
Difference: $22,542.78 (MU ahead)
Micron Technology and Nvidia: Risk Analysis
Micron Technology experienced its maximum drawdown of -40.8% from 2025-01-21 to 2025-04-04. It took 66 days to recover.
Nvidia experienced its maximum drawdown of -35.9% from 2025-01-23 to 2025-04-04. It took 81 days to recover.
Smaller drawdowns and faster recoveries indicate lower downside risk and greater resilience during market stress.
Sharpe Ratio of MU and NVDA
Sharpe ratio measures return per unit of risk (volatility). A higher Sharpe indicates better risk-adjusted performance. MU had a higher Sharpe (2.32 vs 0.84), indicating better risk-adjusted performance.
A Sharpe above 1.0 is generally considered good, above 2.0 is excellent. Negative Sharpe means the asset underperformed the risk-free rate. Calculated on each asset's full 365-day lookback of available prices and annualized using the asset calendar (365 for crypto, 252 trading days for equities/ETFs/metals).
Sortino Ratio of MU and NVDA
Sortino ratio measures return per unit of downside risk. Unlike Sharpe, it only penalizes negative volatility. MU had better downside-adjusted returns.
A higher Sortino is better. It's particularly useful for assets with asymmetric volatility (big gains, smaller losses). Downside volatility: MU 43.3% vs NVDA 37.6%. Calculated on each asset's full 365-day lookback of available prices and annualized using the asset calendar (365 for crypto, 252 trading days for equities/ETFs/metals).
Tail Risk & Distribution Shape: Micron Technology vs. Nvidia
This section looks at the shape of daily returns, not just the average. We use daily log returns so multi-day moves add cleanly.
| Metric (1y) | MU | NVDA |
|---|---|---|
| 5% VaR (daily log return) | -5.52% | -4.50% |
| 5% Expected Shortfall (CVaR) | -9.10% (worst 13 days) | -7.44% (worst 13 days) |
| Skew | -0.40 | -0.54 |
| Excess kurtosis | 3.08 | 8.46 |
| 2σ tail days (down / up) | 6 / 5 | 7 / 2 |
| Worst day | -17.55% (2025-04-03) | -18.59% (2025-01-27) |
| Best day | +17.24% (2025-04-09) | +17.16% (2025-04-09) |
Downside co-moves (2σ)
Computed on shared dates only (n=249). A “2σ downside move” means a shared-close log return more than 2 standard deviations below that asset’s own mean on this shared-date series. Dates below show simple returns (%) for readability.
Show downside tail dates
Dates below are shared-date observations. The “Date” is the period end (close). Tail thresholds are computed on log returns, but the table shows simple returns (%) for readability. Returns are computed from the previous shared close to this one (for example, Friday → Monday includes weekend moves).
Days when both MU and NVDA had a big down day (2σ)
| Date (interval) | MU | NVDA |
|---|---|---|
| 2025-01-24 → 2025-01-27 | -11.71% | -16.97% |
| 2025-04-03 | -16.09% | -7.81% |
| 2025-04-04 | -12.94% | -7.36% |
| 2025-04-10 | -10.04% | -5.91% |
Days when MU had a big down day
| Date (interval) | MU | NVDA |
|---|---|---|
| 2025-01-24 → 2025-01-27 | -11.71% | -16.97% |
| 2025-03-21 | -8.04% | -0.70% |
| 2025-04-03 | -16.09% | -7.81% |
| 2025-04-04 | -12.94% | -7.36% |
| 2025-04-10 | -10.04% | -5.91% |
| 2025-11-20 | -10.87% | -3.15% |
Days when NVDA had a big down day
| Date (interval) | MU | NVDA |
|---|---|---|
| 2025-01-24 → 2025-01-27 | -11.71% | -16.97% |
| 2025-02-27 | -6.03% | -8.48% |
| 2025-02-28 → 2025-03-03 | -3.30% | -8.69% |
| 2025-04-03 | -16.09% | -7.81% |
| 2025-04-04 | -12.94% | -7.36% |
| 2025-04-10 | -10.04% | -5.91% |
| 2025-04-16 | -2.41% | -6.87% |
Read this as “how ugly the ugly days get”, not as a precise forecast. One-year samples are small, so tail estimates are inherently noisy.
Micron Technology vs Nvidia Volatility (MU vs NVDA)
Micron Technology's annualized volatility of 63.4% means it typically moves ±3.99% on any given day.
Nvidia's annualized volatility of 48.8% means it typically moves ±3.08% on any given day.
MU's higher volatility means a wider path to returns — this can be attractive for tactical, shorter-term exposure, while NVDA's smoother profile may better suit long-term allocators seeking steadier growth.
For comparison, the S&P 500 typically has 15-18% annualized volatility, translating to roughly ±1% daily moves. Higher volatility means larger potential gains but also larger potential losses.
Micron Technology vs Nvidia Performance Over Time
| Metric | MU | NVDA |
|---|---|---|
| 30 Days | 30.9% | 0.6% |
| 90 Days | 90.1% | 0.9% |
| 180 Days | 177.4% | 12.1% |
| 1 Year | 264.2% | 38.8% |
Shorter time frames can show different leaders as market conditions change. Consider your investment horizon when comparing performance.
Full Comparison of Micron Technology vs. Nvidia (1-Year)
| Metric | MU | NVDA |
|---|---|---|
| Total Return | +264.2% | +38.8% |
| Annualized Volatility | 63.4% | 48.8% |
| Sharpe Ratio | 2.32 | 0.84 |
| Sortino Ratio | 3.40 | 1.09 |
| Max Drawdown | -40.8% | -35.9% |
| Avg Correlation to S&P 500 | 0.62 | 0.69 |
| 5% VaR (daily log return) | -5.52% | -4.50% |
| 5% Expected Shortfall (CVaR) | -9.10% | -7.44% |
| Skew | -0.40 | -0.54 |
| Excess kurtosis | 3.08 | 8.46 |
| 2σ tail days (down / up) | 6 / 5 | 7 / 2 |
Micron Technology vs Nvidia: Frequently Asked Questions
Which has higher volatility: MU or NVDA?
MU showed higher volatility at 63.4% annualized, compared to 48.8% for NVDA Over the past year. Higher volatility means larger price swings in both directions.
Does MU provide diversification when held with NVDA?
MU and NVDA are moderately correlated over the past year, with an average correlation of 0.59. This offers some diversification benefit, though they still tend to move together during major market moves.
How bad are the worst 5% days for MU vs NVDA?
Over the past year, MU's 5% VaR was -5.52% and its 5% Expected Shortfall was -9.10% (worst 13 days). NVDA's were -4.50% and -7.44% (worst 13 days).
Do MU and NVDA crash together on bad days?
On shared dates (n=249), when NVDA has a 2σ down day, MU also does 57.1% (4/7 days). In the other direction, when MU has one, NVDA also does 66.7% (4/6 days).
Which has better risk-adjusted returns: MU or NVDA?
MU showed better risk-adjusted performance with a Sharpe ratio of 2.32 versus NVDA's 0.84 Over the past year.
Can MU and NVDA be combined in a portfolio?
Yes, though allocation sizing matters. Their moderate correlation offers some diversification benefits. MU's higher volatility (63.4%) means even small allocations can materially impact overall portfolio risk.