ASX 200 stocks with the best performance: Return, momentum, risk-vs-reward – Week 49

Welcome to ASX 200 Data Insights: Performance. At Market Index we continuously maintain an extensive database of critical financial and performance data for the Australian share market. You can find much of this data in the dedicated pages in “Stock Scans” and “Popular Pages” in the main menu above, or in our Data Insights category.

In this edition of Data Insights, we aim to bring you a summary of some of the most interesting performance data we’ve collected for the stocks listed in the S&P/ASX 200. The main criteria of focus are:

KEY DATA – RETURN-BASED METRICS

• 1-week Share Price Performance %

• 1-month Share Price Performance %

• 1-year Share Price Performance %

KEY DATA – MOMENTUM-BASED METRICS

• Share Price Performance: Furthest from 12-month low % (i.e., “Strongest”)

• Share Price Performance: Furthest from 12-month high % (i.e., “Weakest”)

KEY DATA – REWARD-VS-RISK-BASED METRICS

• 1-yr Sortino Ratio: Best

• 1-yr Sortino Ratio: Worst

Don’t worry if all these datapoints seem like a different language! For each category, we’ll provide an explanation of what it does, its importance, and how to practically use it to compare stocks across the ASX 200. If a stock is highlighted in green, it means it is a new entrant to a particular list. All of our data is accurate at the time of publication, and is based on the close of trading on Thursday X December.

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KEY DATA – RETURN-BASED METRICS

Top 20 ASX 200 Stocks by 1-week return

Top 20 ASX 200 Stocks by rolling 1-week return

The best performing stocks over the last 5 trading days, a momentum scan for stocks exhibiting strong very short term positive momentum.

Bottom 20 ASX 200 Stocks by 1-week return

Bottom 20 ASX 200 Stocks by rolling 1-week return

The worst performing stocks over the last 5 trading days, a momentum scan for stocks exhibiting strong very short term negative momentum.

1-Week Return Observations 🧐

• Top 20 INS

  • Natural resources stocks made up most of this week's top performers. The London Metals Exchange (LME) benchmark copper price surged to a new record high, pushing up the shares of copper producers Capstone Copper Corp. (CSC), Greatland Resources (GGP), South32 (S32), and Sandfire Resources (SFR).

  • Arguably, mining juggernauts BHP Group (BHP) and Rio Tinto (RIO) have far more to their respective bows than copper, but no doubt it still helped their share prices this week. Very likely, so too did a stronger iron ore price, and this would explain Champion Iron's (CIA) appearance in this week's top performers list.

  • As copper and iron ore prices rose, the price of uranium was eerily quiet – but this didn't seem to hurt the prospects of ASX uranium majors Paladin Energy (PDN), Boss Energy (BOE), and Deep Yellow (DYL). While momentum is building in copper and iron ore commodity prices and stocks, the move in this sector was more of a bounce from recent poor price performance than a surge.

• Bottom 20 INS

  • Technology, consumer discretionary, financials, and particularly, real estate stocks featured heavily in this week's biggest losers list.

  • Unlike Resources and Energy – each of these sectors has struggled through October and November – and their poor form appears now to be extending into December... You can see very clearly in these two tables how the big fund managers play their favourites – so much for the theory of diversifying across many sectors (i.e., just stick with the best ones!).

Top 20 ASX 200 Stocks by 1-month return

Top 20 ASX 200 Stocks by rolling 1-month return

The best performing stocks over the last month. Also included for your reference are the Top 20’s proximity to their 1-month high, e.g., “-2%” indicates the stock in question is currently 2% from its 1-month high (lower is generally considered better). This is a momentum scan for stocks exhibiting strong short-term momentum. 

1-Month Return Observations 🧐

• INS

  • Again, natural resources stocks figure highly in the ins, but also in the list more generally. They are, however, joined by a few stocks that have nothing to do with resources: National Storage Reit (NSR) (received a takeover bid from private equity), and travel stocks Web Travel Group (WEB) and Flight Centre Travel Group (FLT) (better than expected H1 FY26 results from WEB plus general sector strength after Webjet Group (WJL) received a takeover bid from Helloworld Travel (HLO)).

• Movers

  • Lithium and nickel stocks were the best (resources again!) with IGO (IGO) jumping from fifth last week to first this week.

  • Still, lithium stocks more generally were in pullback mode, causing slides down the list in Liontown Resources (LTR) (eleventh from first) and Pilbara Minerals (PLS) (fourth from third).

  • Domino's Pizza Enterprises (DMP) dropped to twentieth from fourth on a steady week, but as some of its earlier-month heroics cycled out of its monthly rolling return.

Top 20 ASX 200 Stocks by 1-year return

Top 20 ASX 200 Stocks by rolling 12-month return. All data as per close of trade Thursday XX November.

The best performing stocks over the last year. Also included for your reference are the Top 20’s proximity to their 1-year high, e.g., “-2%” indicates the stock in question is currently 2% from its 1-year high (lower is generally considered better). This is a momentum scan for stocks exhibiting strong medium-term momentum.

1-Year Return Observations

• INS / OUTS

  • Few moves here with the top seven spots unchanged.

  • Austal (ASB) and Ramelius Resources (RMS) replaced West African Resources (WAF) and Generation Development Group (GDG) mainly due to relative moves / rolling returns impacts.

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KEY DATA – MOMENTUM-BASED METRICS

Top 20 ASX 200 Stocks by Furthest from 1-year low % ("Strongest")

Top 20 ASX 200 Stocks by Furthest from rolling 1-year low % (Strongest)

More targeted than the previous 1-year return scan, it aims to highlight stocks that have staged the strongest recoveries from recent troughs and or those that have exhibited consistent momentum in the medium term. It signals investor confidence and assists in identifying market leaders and sectors that might be currently favoured by fund managers.

"Strongest" Observations

• INS / OUTS

  • This list is stacked with resources stocks, with CSC and WAF swapping places with two other resources stocks in Capricorn Metals (CMM) and Lynas Rare Earths (LYC).

  • Lithium remains the major turnaround story of 2025 – which is exactly what this scan is designed to identify – as PLS, LTR, and Mineral Resources (MIN) remained in their top 4 places (albeit with a little shuffling).

Top 20 ASX 200 Stocks by Furthest from 1-year high % ("Weakest")

Top 20 ASX 200 Stocks by Furthest from 1-year high % (Weakest)

This scan highlights stocks trading furthest below their recent peaks, often reflecting weaker momentum, reduced investor conviction, or sector headwinds. It can help identify potential value opportunities if fundamentals remain intact, or conversely, warn of stocks and industries currently out of favour with fund managers.

"Weakest" Observations

• INS

  • Again, recent struggles in financials and technology are pushing an increasing number of their constituents into and up this list – Zip Co. (ZIP), Block (XYZ), and Catapult Sports (CAT) have the dubious honour of joining this week.

  • Yes, a stock can feature in both the Strongest and Weakest lists! Take Droneshield (DRO) for example, it had a massive start to the year, but has seen most of its gains evaporate in recent weeks. It now sits 224% above its lowest point of 2025, but 72% below its high, making it third on the Strongest list and first on the Weakest list!

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KEY DATA – REWARD-VS-RISK-BASED METRICS

The Sortino Ratio is a powerful risk-reward metric. It compares excess returns to downside volatility, isolating harmful losses without penalising gains. Generally, a Sortino Ratio greater than 1.0 is considered acceptable as it signifies that the investment is generating returns above the minimum acceptable rate without taking on disproportionate downside risk. A higher Sortino Ratio is always preferred, as it signals stronger risk-adjusted performance and highlights investments delivering better returns per unit of downside risk taken.

So, rather than just pure performance (or underperformance) as per the previous lists, this is a far stronger and more relevant measure of which stocks have beaten and lagged the market on a risk-adjusted basis.

Top 20 ASX 200 Stocks by 1-year Sortino Ratio: Best

Top 20 ASX 200 Stocks by rolling 1-year Sortino Ratio: Best

This scan highlights the best performing ASX stocks over the last 12-months from a return vs risk perspective – i.e., these are the stocks that delivered the greatest return with the least volatility below the minimum acceptable return ("MAR") of 6% p.a.

Bottom 20 ASX 200 Stocks by 1-year Sortino Ratio: Worst

Bottom 20 ASX 200 Stocks by rolling 1-year rolling Sortino Ratio: Worst

This scan highlights the worst performing ASX stocks over the last 12-months from a return vs risk perspective – i.e., these are the stocks that delivered the least return with the greatest volatility below the minimum acceptable return ("MAR") of 6% p.a.

Reward vs Risk Observations

• GOOD

  • Few changes to either list, with the top three spots in each unchanged.

  • Harvey Norman Holdings (HVN) returns as it bounced back this week after its first quarter trading update triggered a pullback last week. DRO flipped back into 19th spot – but this was more related to relative moves at the bottom of the table than its own strong performance.

• UGLY

  • Like DRO, rare earths producer LYC continues to fall from grace, this week leaving the best reward to risk list.

  • Again – and at the risk of sounding like a broken record here – technology, real estate, and consumer discretionary... there are some consistent themes among the worst investments one could have made on a reward to risk basis over the last 12-months!

  • Perhaps then, it's no surprise then that REA Group (REA) joins the naughty list this week. The other newbie, Sonic Healthcare (SHL), joins its healthcare sector counterpart CSL (CSL).

Ultimately it boils down to this: If your portfolio resembles the "Best Sortino" list, then you've done a very good job of managing your money over the last 12-months. However, if your portfolio resembles the "Worst Sortino" list, then you may need to rethink your investing strategy! 😉