Relative Intelligence · Cloud Computing
How Nebius Group (NBIS) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on NBIS alone. It places NBIS (Nebius Group N.V.) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken and diversification. The result is a clearer view of where NBIS stands in the market, and of the alternatives worth a closer look.
Period covered: NBIS's full trading record, from October 2024 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.
Data as of October 20, 2026. Full tables and charts read best on a larger screen.
On this page6 sections
Key findings
- Right nowThe slide is NBIS's own: it is 40.2% below its high, against 1.3% for the S&P 500. NBIS has gone against the market, falling 6.1% over the past 3 months while the S&P 500 rose 3.9%. At a glance ↓
- Stock or market?The weakness is NBIS's own: it fell 6.1% over the past 3 months while the cloud computing ETF SKYY (First Trust Cloud Computing ETF) rose 19.5%. The S&P 500 rose 3.9%. Its cloud computing peers did not move as one over the past 3 months: MSFT (Microsoft) rose 32.5%, while IREN fell 33.8%.
- Past 1 to 3 yearsOver the past year, NBIS rose 57.3% against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100.
How much would $10,000 in NBIS have grown?
This chart tracks a hypothetical $10,000 investment in NBIS over the past 1 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of NBIS over the same span and NBIS's popular alternatives, among those that traded for the entire period. It shows not only where each investment ended up but also how smooth or uneven the path was.
Note: NBIS began trading on October 21, 2024, so the chart cannot reach back to the dot-com bust, the 2008 financial crisis or eight other sell-offs. It covers the most recent 1 years of NBIS's record, starting at the end of September 2025.
- $10,000 invested in NBIS at the end of September 2025 would have grown to $21,010 by September 2026, more than the $11,571 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of NBIS, and MU finished highest, at $63,758.
From the end of September 2025 to the end of September 2026. Hover over a fund in the key to pick out its line. 183 of the 4,300 stocks and funds worth at least $500 million that traded the whole period ended ahead of NBIS; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- MU$63,758+538% total · +538% a year
- DOCN$39,048+290% total · +290% a year
- DELL$38,429+284% total · +284% a year
- AMD$37,812+278% total · +278% a year
- HUT$24,734+147% total · +147% a year
- NBIS$21,010+110% total · +110% a year
- GOOG$14,028+40.3% total · +40.3% a year
- ANET$13,972+39.7% total · +39.7% a year
- SPY (S&P 500)$11,571+15.7% total · +15.7% a year
- MSFT$9,984−0.2% total · −0.2% a year
NBIS at a glance
This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.
Note: NBIS began trading on October 21, 2024, so every figure here, including its worst decline, covers only the time since then. None of them reflect the dot-com bust, the 2008 financial crisis or eight other sell-offs.
- NBIS is still 40.2% below its all-time high.
- NBIS's deepest decline since it began trading in 2024 was 58.3%, from February to April 2025. It took two months from the low to climb back to its old high.
The company
- Market value
- $41B
- Industry
- Software - Application
- Price history from
- October 2024
Returns
- Past 1 year
- +57.3%total return
- Best calendar year
- +202%2025
- Worst calendar year
- +202%2025
- Losing years
- 0 of 1full calendar years
Risk
- Volatility
- 110%typical yearly swing, 1 year
- Sharpe ratio
- 0.94return per unit of risk, 1 year
- Worst decline ever
- −58.3%Feb 2025 to Apr 2025
- From its all-time high
- −40.2%below the peak
NBIS against the whole market
Where NBIS ranks among every stock and fund, and what across the market has done better.
How does NBIS rank among all stocks?
This section ranks NBIS on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history. Where the comparisons with its popular alternatives show how NBIS stacks up against its peers, these rankings show where it stands in the market as a whole.
- NBIS is among the more volatile stocks: its price swings rank in the bottom 3% of the 3,287 stocks worth at least $300 million, where the top is the calmest.
- NBIS's 1-year return ranks in the top 14% of the 3,287 stocks worth at least $300 million with 1 year of history.
Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.
| Measure | NBIS | Rank | Standing |
|---|---|---|---|
| 1-year return | +57.3% | 452 of 3,287 | top 14% |
| Volatility, 1 year | 110% | 3,205 of 3,287 | bottom 3% |
| Sharpe ratio, 1 year | 0.94 | 956 of 3,287 | top 29% |
NBIS against its popular alternatives
The investments people most often weigh against NBIS, compared period by period and year by year.
How do NBIS's risk and return compare with its alternatives?
This map plots each investment's annual return over the past 1 year against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at NBIS, which divides the map into what did better or worse on each measure.
- DELL, DOCN and AMD were both more rewarding and calmer than NBIS over the past 1 year, earning a higher annual return with lower volatility.
- Over the past 1 year, NBIS returned 57.3% a year, more than the S&P 500's 15.8%, with higher volatility (109.6% against 12.7%).
Green points earned more than NBIS with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.
All figures
| Investment | Annual return | Volatility |
|---|---|---|
| DELL Dell Technologies Inc. | +217% | 75.8% |
| DOCN DigitalOcean Holdings, Inc. | +142% | 87.5% |
| AMD Advanced Micro Devices, Inc. | +122% | 67.9% |
| NBIS This pageNebius Group N.V. | +57.3% | 110% |
| HUT Hut 8 Corp. | +38.3% | 108% |
| GOOG Alphabet Inc. | +31.2% | 31.0% |
| ANET Arista Networks, Inc. | +23.7% | 53.6% |
| AMZN Amazon.com, Inc. | +21.3% | 34.6% |
| NVDA NVIDIA Corporation | +18.8% | 37.3% |
| VRT Vertiv Holdings Co | +16.0% | 65.7% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +15.8% | 12.7% |
| MSFT Microsoft Corporation | +3.8% | 32.9% |
| IBM International Business Machines Corporation | −12.5% | 48.9% |
| WULF TeraWulf Inc. | −13.3% | 92.7% |
| CORZ Core Scientific, Inc. | −26.7% | 72.8% |
| GDS GDS Holdings Limited | −32.2% | 56.4% |
| APLD Applied Digital Corp. | −46.2% | 102% |
| CRWV CoreWeave, Inc. Class A Common Stock | −51.1% | 96.1% |
| ORCL Oracle Corporation | −52.1% | 57.0% |
| IREN IREN Limited | −55.0% | 107% |
| CIFR Cipher Mining Inc. | −55.4% | 113% |
| VNET VNET Group, Inc. | −56.2% | 77.6% |
Has NBIS consistently beaten its popular alternatives?
This section compares NBIS with the investments people most often weigh against it, checking each one over five periods from one month to one year. Counting how often an alternative earned more than NBIS helps separate lasting outperformance from a single strong stretch.
- Five of the 20 popular alternatives, led by DELL, AMD and DOCN, outperformed NBIS in at least 3 of 5 timeframes.
- GOOG earned more for the risk it took than NBIS (a higher Sharpe ratio) and fell less in its worst decline of the past 10 years.
A green cell means the alternative earned more than NBIS over that period. "Qualified" marks those that did so in at least 3 of 5 periods.
| Investment | Periods outperformed | Short term | Risk · 1 year | Fund | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | Volatilitylower is calmer | Sharpehigher is better | Worst declinepast 10 years | Expense | Assets | Overlapsame sectors | ||
| NBIS Nebius Group N.V. (this page) | — | −26.4% | −6.1% | +7.7% | +90.6% | +57.3% | 110% | 0.94 | — | — | $41B | — |
| DELL QualifiedDell Technologies Inc. | 5/5 short | −19.6% | +21.3% | +127% | +265% | +217% | 75.8% | 1.89 | −59.6% | — | $294B | — |
| AMD QualifiedAdvanced Micro Devices, Inc. | 5/5 short | −13.1% | +6.2% | +94.5% | +139% | +122% | 67.9% | 1.52 | −65.5% | — | $873B | — |
| DOCN QualifiedDigitalOcean Holdings, Inc. | 3/5 short | −31.9% | −16.5% | +11.1% | +103% | +142% | 87.5% | 1.43 | −84.8% | — | $12B | — |
| ANET QualifiedArista Networks, Inc. | 3/5 short | −11.8% | +7.0% | +8.6% | +35.6% | +23.7% | 53.6% | 0.67 | −52.2% | — | $229B | — |
| MSFT QualifiedMicrosoft Corporation | 3/5 short | +6.0% | +32.5% | +27.7% | +13.2% | +3.8% | 32.9% | 0.27 | −37.1% | — | $3.9T | — |
| GOOG Internet Content & InformationAlphabet Inc. | 2/5 short | −4.1% | −4.2% | +0.4% | +6.9% | +31.2% | 31.0% | 1.03 | −44.6% | — | $4.1T | — |
| AMZN Specialty RetailAmazon.com, Inc. | 2/5 short | +1.6% | +5.1% | +5.8% | +16.0% | +21.3% | 34.6% | 0.73 | −56.1% | — | $2.8T | — |
| NVDA SemiconductorsNVIDIA Corporation | 2/5 short | −4.8% | +6.6% | +7.4% | +14.9% | +18.8% | 37.3% | 0.65 | −66.3% | — | $5.2T | — |
| IBM Information Technology ServicesInternational Business Machines Corporation | 2/5 short | +4.3% | +14.4% | −3.3% | −15.3% | −12.5% | 48.9% | -0.02 | −41.1% | — | $228B | — |
| ORCL Software - InfrastructureOracle Corporation | 2/5 short | −11.4% | +8.4% | −25.6% | −32.1% | −52.1% | 57.0% | -1.01 | −64.6% | — | $396B | — |
| VRT Electrical Equipment & PartsVertiv Holdings Co | 1/5 short | −18.9% | −30.2% | −35.2% | +16.0% | +16.0% | 65.7% | 0.55 | −71.3% | — | $78B | — |
| CORZ Software - InfrastructureCore Scientific, Inc. | 1/5 short | −24.9% | −38.4% | −30.6% | −13.8% | −26.7% | 72.8% | -0.07 | −65.0% | — | $4.4B | — |
| HUT Financial - Capital MarketsHut 8 Corp. | 0/5 short | −33.2% | −31.6% | −12.6% | +34.7% | +38.3% | 108% | 0.83 | −95.0% | — | $8.5B | — |
| WULF Financial - Capital MarketsTeraWulf Inc. | 0/5 short | −31.2% | −36.3% | −41.4% | −5.7% | −13.3% | 92.7% | 0.30 | −98.5% | — | $6.0B | — |
| GDS Information Technology ServicesGDS Holdings Limited | 0/5 short | −31.9% | −27.6% | −48.1% | −39.1% | −32.2% | 56.4% | -0.41 | −95.6% | — | $4.5B | — |
| APLD Information Technology ServicesApplied Digital Corp. | 0/5 short | −31.4% | −30.6% | −40.0% | −31.2% | −46.2% | 102% | -0.11 | −81.9% | — | $5.8B | — |
| CRWV Software - InfrastructureCoreWeave, Inc. Class A Common Stock | 0/5 short | −27.3% | −15.0% | −47.1% | −21.7% | −51.1% | 96.1% | -0.28 | −66.9% | — | $34B | — |
| IREN Software - ServicesIREN Limited | 0/5 short | −43.6% | −33.8% | −45.4% | −37.7% | −55.0% | 107% | -0.22 | −95.7% | — | $10B | — |
| CIFR Information Technology ServicesCipher Mining Inc. | 0/5 short | −53.0% | −56.8% | −54.0% | −45.2% | −55.4% | 113% | -0.17 | −97.2% | — | $3.7B | — |
| VNET Information Technology ServicesVNET Group, Inc. | 0/5 short | −43.4% | −46.6% | −55.4% | −55.0% | −56.2% | 77.6% | -0.69 | −96.7% | — | $1.1B | — |
Risk and diversification
How NBIS has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.
What were NBIS's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents NBIS's five deepest drawdowns since it began trading in 2024, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.
Note: NBIS began trading on October 21, 2024, so this list cannot include the dot-com bust, the 2008 financial crisis or eight other sell-offs.
- In all five of NBIS's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: NBIS fell 48.3% from June to July 2026, while the S&P 500 slipped only 2.3%.
- None of these declines kept NBIS below its old high for long; the longest climb back took two months.
Green means NBIS fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | NBIS fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| No named crash | −58.3% | −18.6% | Feb 2025 | Apr 2025 | 2 months | Jun 2025 | 2 months |
| No named crash | −48.3% | −2.3% | Jun 2026 | Jul 2026 | 1 month | Not yet | — |
| No named crash | −45.5% | +2.5% | Oct 2025 | Feb 2026 | 4 months | Apr 2026 | 2 months |
| No named crash | −37.4% | −1.4% | Jan 2025 | Jan 2025 | Under a month | Feb 2025 | 1 month |
| No named crash | −27.4% | −2.4% | Dec 2024 | Dec 2024 | Under a month | Jan 2025 | 1 month |
Common questions
What was NBIS's worst drawdown?
NBIS's deepest decline since it began trading in 2024 was 58.3%, from February to April 2025. It took two months from the low to climb back to its old high. Because NBIS launched in October 2024, that record does not include the dot-com bust, the 2008 financial crisis or eight other sell-offs.
What were NBIS's best and worst years?
Over one full calendar years, NBIS's best year was 2025, when it returned 202%. Its worst was 2025, with a return of +202%.
What are the best alternatives to NBIS?
Of the 20 popular alternatives we compared, five outperformed NBIS in at least 3 of 5 timeframes, with dividends reinvested: DELL, AMD and DOCN.
How we measure
- Short-term periods are 1M, 3M, 6M, YTD, 1Y. An investment outperformed in a period when its total return, with dividends reinvested, was higher than NBIS's. Returns within 0.5 points or 3% of NBIS's, whichever is larger, count as a tie.
- "Qualified" means outperforming in at least 3 of 5 periods. "All-weather" means outperforming in every long-term period and all but one short-term period.
- Popular alternatives are the funds and stocks most often compared with this one. We include only those that trade today, are not leveraged or inverse, and hold at least $200 million.
- Volatility is the annualized standard deviation of daily returns over 1 year, a measure of how much the price typically swings in a year. The Sharpe ratio is the return above cash for each unit of that volatility.
- A decline, or drawdown, runs from a peak to the lowest close before the next high. The worst decline ever uses all the price history we have; comparisons between funds use the past 10 years so that younger funds are judged on the same stretch.
- Sector overlap is the share of assets two funds hold in the same sectors. Correlation and the mixed-portfolio figures use monthly returns.
- Figures are computed from daily adjusted prices and update after each trading day. Past performance does not predict future results.
More research
Popular alternatives to NBIS
DELLDell Technologies
AMDAdvanced Micro Devices
ANETArista Networks
MSFTMicrosoft
GOOGAlphabet
AMZNAmazon.com
NVDANVIDIA
IBMInternational Business Machines
ORCLOracle
VRTVertiv
SCHD
AAPL