AFRM vs. LMND
AFRM (Affirm Holdings, Inc.) and LMND (Lemonade, Inc.) are both stocks. AFRM operates in Information Technology Services (Technology), while LMND operates in Insurance - Property & Casualty (Financial Services). Over the past 5 years, AFRM returned -0.54%/yr vs -11.55%/yr for LMND. A 0.59 correlation means they provide meaningful diversification when combined.
Performance
AFRM vs. LMND - Performance Comparison
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Returns By Period
In the year-to-date period, AFRM achieves a -11.10% return, which is significantly higher than LMND's -19.23% return.
AFRM
- 1D
- -0.48%
- 1M
- 0.53%
- YTD
- -11.10%
- 6M
- -1.61%
- 1Y
- 11.94%
- 3Y*
- 52.28%
- 5Y*
- -0.54%
- 10Y*
- —
LMND
- 1D
- 0.54%
- 1M
- 11.96%
- YTD
- -19.23%
- 6M
- -26.15%
- 1Y
- 42.06%
- 3Y*
- 39.69%
- 5Y*
- -11.55%
- 10Y*
- —
AFRM vs. LMND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AFRM Affirm Holdings, Inc. | -11.10% | 22.22% | 23.93% | 408.17% | -90.38% | 10.63% |
LMND Lemonade, Inc. | -19.23% | 94.06% | 127.40% | 17.91% | -67.51% | -75.66% |
Correlation
The correlation between AFRM and LMND is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jan 13, 2021 | 0.59 |
The correlation between AFRM and LMND shifts across timeframes, from 0.40 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
AFRM:
$23.03B
LMND:
$4.39B
AFRM:
$1.10
LMND:
-$1.88
AFRM:
7.18
LMND:
5.18
AFRM:
6.09
LMND:
8.47
AFRM:
$3.20B
LMND:
$821.10M
AFRM:
$2.00B
LMND:
$390.70M
AFRM:
$908.84M
LMND:
-$120.70M
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Return for Risk
AFRM vs. LMND — Risk / Return Rank
AFRM
LMND
AFRM vs. LMND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Affirm Holdings, Inc. (AFRM) and Lemonade, Inc. (LMND). 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.
| AFRM | LMND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.15 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.16 | 0.77 | -0.61 |
| Martin ratioReturn relative to average drawdown | 0.31 | 1.48 | -1.17 |
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Drawdowns
AFRM vs. LMND - Drawdown Comparison
The maximum AFRM drawdown since its inception was -94.71%, roughly equal to the maximum LMND drawdown of -94.23%. Use the drawdown chart below to compare losses from any high point for AFRM and LMND.
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Drawdown Indicators
| AFRM | LMND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.71% | -94.23% | -0.48% |
Max Drawdown (1Y)Largest decline over 1 year | -53.86% | -47.70% | -6.16% |
Max Drawdown (3Y)Largest decline over 3 years | -55.85% | -56.10% | +0.25% |
Max Drawdown (5Y)Largest decline over 5 years | -94.71% | -90.63% | -4.08% |
Current DrawdownCurrent decline from peak | -60.73% | -68.63% | +7.90% |
Average DrawdownAverage peak-to-trough decline | -68.65% | -73.02% | +4.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.04% | 24.64% | +2.40% |
Volatility
AFRM vs. LMND - Volatility Comparison
Affirm Holdings, Inc. (AFRM) has a higher volatility of 17.80% compared to Lemonade, Inc. (LMND) at 15.88%. This indicates that AFRM's price experiences larger fluctuations and is considered to be riskier than LMND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AFRM | LMND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.80% | 15.88% | +1.92% |
Volatility (6M)Calculated over the trailing 6-month period | 43.83% | 53.78% | -9.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.85% | 84.53% | -23.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.23% | 82.20% | +14.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.46% | 86.51% | +8.95% |
Dividends
AFRM vs. LMND - Dividend Comparison
Neither AFRM nor LMND has paid dividends to shareholders.
Financials
AFRM vs. LMND - Financials Comparison
This section allows you to compare key financial metrics between Affirm Holdings, Inc. and Lemonade, Inc.. 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
AFRM vs. LMND - Profitability Comparison
AFRM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Affirm Holdings, Inc. reported a gross profit of 0.00 and revenue of 268.03M. Therefore, the gross margin over that period was 0.0%.
LMND - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Lemonade, Inc. reported a gross profit of 101.10M and revenue of 234.40M. Therefore, the gross margin over that period was 43.1%.
AFRM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Affirm Holdings, Inc. reported an operating income of 88.43M and revenue of 268.03M, resulting in an operating margin of 33.0%.
LMND - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Lemonade, Inc. reported an operating income of -34.60M and revenue of 234.40M, resulting in an operating margin of -14.8%.
AFRM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Affirm Holdings, Inc. reported a net income of 102.90M and revenue of 268.03M, resulting in a net margin of 38.4%.
LMND - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Lemonade, Inc. reported a net income of -35.80M and revenue of 234.40M, resulting in a net margin of -15.3%.
Frequently Asked Questions
AFRM and LMND have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AFRM has higher volatility (17.80%) compared to LMND (15.88%). In terms of maximum drawdown, AFRM dropped -94.71% vs LMND's -94.23%.
LMND currently has the higher Sharpe Ratio (0.43 vs 0.14), 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.
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