AI vs. ON

Last updated Jun 4, 2026

AI (C3.ai, Inc.) and ON (ON Semiconductor Corporation) are both stocks. Both are in the Technology sector — AI in Information Technology Services, ON in Semiconductors. Over the past 5 years, AI returned -30.15%/yr vs 28.51%/yr for ON. At a 0.42 correlation, their price movements are largely independent.

Performance

AI vs. ON - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in C3.ai, Inc. (AI) and ON Semiconductor Corporation (ON). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AI achieves a -20.55% return, which is significantly lower than ON's 147.33% return.

AI

• 1D: -4.20%
• 1M: 16.16%
• YTD: -20.55%
• 6M: -28.65%
• 1Y: -58.28%
• 3Y*: -30.76%
• 5Y*: -30.15%
• 10Y*: —

ON

• 1D: 4.11%
• 1M: 31.25%
• YTD: 147.33%
• 6M: 134.35%
• 1Y: 182.73%
• 3Y*: 15.54%
• 5Y*: 28.51%
• 10Y*: 30.01%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AI vs. ON - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
AI C3.ai, Inc.	-20.55%	-60.85%	19.92%	156.57%	-64.19%	-77.48%	50.02%
ON ON Semiconductor Corporation	147.33%	-14.12%	-24.52%	33.93%	-8.17%	107.52%	6.72%

Correlation

The correlation between AI and ON is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020	0.42

The correlation between AI and ON shifts across timeframes, from 0.30 (1 year) to 0.43 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap AI : $1.49B ON : $52.78B
EPS AI : -$3.16 ON : $1.42
PS Ratio AI : 4.79 ON : 8.94
PB Ratio AI : 2.06 ON : 7.23
Total Revenue (TTM) AI : $307.39M ON : $6.06B
Gross Profit (TTM) AI : $133.57M ON : $2.26B
EBITDA (TTM) AI : -$439.66M ON : $1.21B

Return for Risk

AI vs. ON — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AI

AI Risk / Return Rank: 10
AI Sharpe Ratio Rank: 6
AI Sortino Ratio Rank: 7
AI Omega Ratio Rank: 8
AI Calmar Ratio Rank: 11
AI Martin Ratio Rank: 16

ON

ON Risk / Return Rank: 93
ON Sharpe Ratio Rank: 96
ON Sortino Ratio Rank: 93
ON Omega Ratio Rank: 92
ON Calmar Ratio Rank: 94
ON Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AI vs. ON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for C3.ai, Inc. (AI) and ON Semiconductor Corporation (ON). 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.

	AI	ON	Difference
Sharpe ratio: Return per unit of total volatility	-0.90	3.49	-4.38
Sortino ratio: Return per unit of downside risk	-1.29	3.73	-5.02
Omega ratio: Gain probability vs. loss probability	0.83	1.48	-0.64
Calmar ratio: Return relative to maximum drawdown	-0.80	6.54	-7.34
Martin ratio: Return relative to average drawdown	-1.15	13.24	-14.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AI vs. ON - Sharpe Ratio Comparison

The current AI Sharpe Ratio is -0.90, which is lower than the ON Sharpe Ratio of 3.49. The chart below compares the historical Sharpe Ratios of AI and ON, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AI	ON	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.90	3.49	-4.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.39	0.54	-0.93
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.40	0.11	-0.51

Drawdowns

AI vs. ON - Drawdown Comparison

The maximum AI drawdown since its inception was -95.63%, roughly equal to the maximum ON drawdown of -96.22%. Use the drawdown chart below to compare losses from any high point for AI and ON.

Drawdown Indicators

	AI	ON	Difference
Max Drawdown Largest peak-to-trough decline	-95.63%	-96.22%	+0.59%
Max Drawdown (1Y) Largest decline over 1 year	-73.39%	-28.10%	-45.29%
Max Drawdown (3Y) Largest decline over 3 years	-83.27%	-70.44%	-12.83%
Max Drawdown (5Y) Largest decline over 5 years	-88.32%	-70.44%	-17.88%
Max Drawdown (10Y) Largest decline over 10 years	—	-70.44%	—
Current Drawdown Current decline from peak	-93.97%	0.00%	-93.97%
Average Drawdown Average peak-to-trough decline	-81.92%	-53.23%	-28.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	50.91%	13.86%	+37.05%

Volatility

AI vs. ON - Volatility Comparison

C3.ai, Inc. (AI) and ON Semiconductor Corporation (ON) have volatilities of 19.00% and 19.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AI	ON	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.00%	19.99%	-0.99%
Volatility (6M) Calculated over the trailing 6-month period	48.04%	38.66%	+9.38%
Volatility (1Y) Calculated over the trailing 1-year period	65.25%	53.87%	+11.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	77.77%	52.95%	+24.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.20%	50.92%	+31.28%

Dividends

AI vs. ON - Dividend Comparison

Neither AI nor ON has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both AI and ON in my portfolio?

AI and ON have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AI or ON?

ON has higher volatility (19.99%) compared to AI (19.00%). In terms of maximum drawdown, AI dropped -95.63% vs ON's -96.22%.

Which has better risk-adjusted returns?

ON currently has the higher Sharpe Ratio (3.49 vs -0.90), 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.