Tolkien wrote the Silmarillion intending it to become an English mythology that would explain the origins of English history and culture. While Asgard, Odin and Thor are all parts of a Nordic mythology. In that regards, they are both similar stories of gods and creation.
The Valar and Norse gods match up quite nicely.
Odin and Manwe are both powerful and wise lords. Odin has his Ravens, Manwe has his eagles. They both have seats upon high peaks.
Frigga and Varda, are both beautiful and powerful wifes of their above lords.
Tyr and Tulkas, for power in combat.
Ullr and Orome for most powerful Huntsman.
Loki and Melkor, for creators of chaos and disorder.
Placing Thor is difficult, and is going to cause overlaps. But Thor would likely be comparable to either Tulkas or Orome.
Thor is high among the gods of Nordic Mythology, Gandalf is high among the lesser gods of Tolkien's mythology. Hence Thor is the more powerful figure.
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