ALXO vs. HRMY

Last updated Jun 4, 2026

ALXO (ALX Oncology Holdings Inc.) and HRMY (Harmony Biosciences Holdings, Inc.) are both stocks. Both operate in the Biotechnology industry within the Healthcare sector. Over the past 5 years, ALXO returned -50.26%/yr vs -0.67%/yr for HRMY. At a 0.23 correlation, their price movements are largely independent.

Performance

ALXO vs. HRMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALX Oncology Holdings Inc. (ALXO) and Harmony Biosciences Holdings, Inc. (HRMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ALXO achieves a 47.79% return, which is significantly higher than HRMY's -14.22% return.

ALXO

• 1D: -6.18%
• 1M: -11.17%
• YTD: 47.79%
• 6M: 26.52%
• 1Y: 201.06%
• 3Y*: -41.45%
• 5Y*: -50.26%
• 10Y*: —

HRMY

• 1D: 3.85%
• 1M: -1.50%
• YTD: -14.22%
• 6M: -13.24%
• 1Y: -9.09%
• 3Y*: -3.02%
• 5Y*: -0.67%
• 10Y*: —

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

ALXO vs. HRMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ALXO ALX Oncology Holdings Inc.	47.79%	-32.34%	-88.78%	32.12%	-47.56%	-75.07%	93.88%
HRMY Harmony Biosciences Holdings, Inc.	-14.22%	8.75%	6.53%	-41.38%	29.22%	17.95%	-2.32%

Correlation

The correlation between ALXO and HRMY is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (All Time) Calculated using the full available price history since Aug 20, 2020	0.23

The correlation between ALXO and HRMY shifts across timeframes, from 0.10 (1 year) to 0.24 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap ALXO : $174.64M HRMY : $1.89B
EPS ALXO : -$1.34 HRMY : $2.48
PB Ratio ALXO : 1.15 HRMY : 2.07
Total Revenue (TTM) ALXO : $0.00 HRMY : $899.11M
Gross Profit (TTM) ALXO : $0.00 HRMY : $688.25M
EBITDA (TTM) ALXO : -$88.92M HRMY : $221.74M

Return for Risk

ALXO vs. HRMY — Risk / Return Rank

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

ALXO

ALXO Risk / Return Rank: 84
ALXO Sharpe Ratio Rank: 85
ALXO Sortino Ratio Rank: 86
ALXO Omega Ratio Rank: 80
ALXO Calmar Ratio Rank: 88
ALXO Martin Ratio Rank: 84

HRMY

HRMY Risk / Return Rank: 31
HRMY Sharpe Ratio Rank: 31
HRMY Sortino Ratio Rank: 29
HRMY Omega Ratio Rank: 29
HRMY Calmar Ratio Rank: 31
HRMY Martin Ratio Rank: 32

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.

ALXO vs. HRMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALX Oncology Holdings Inc. (ALXO) and Harmony Biosciences Holdings, Inc. (HRMY). 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.

	ALXO	HRMY	Difference
Sharpe ratio Return per unit of total volatility	1.75	-0.22	+1.97
Sortino ratio Return per unit of downside risk	2.76	-0.02	+2.78
Omega ratio Gain probability vs. loss probability	1.31	1.00	+0.31
Calmar ratio Return relative to maximum drawdown	4.01	-0.26	+4.28
Martin ratio Return relative to average drawdown	8.05	-0.49	+8.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ALXO vs. HRMY - Sharpe Ratio Comparison

The current ALXO Sharpe Ratio is 1.75, which is higher than the HRMY Sharpe Ratio of -0.22. The chart below compares the historical Sharpe Ratios of ALXO and HRMY, 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

	ALXO	HRMY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.75	-0.22	+1.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.51	-0.01	-0.49
Sharpe Ratio (All Time) Calculated using the full available price history	-0.40	-0.05	-0.35

Drawdowns

ALXO vs. HRMY - Drawdown Comparison

The maximum ALXO drawdown since its inception was -99.64%, which is greater than HRMY's maximum drawdown of -68.48%. Use the drawdown chart below to compare losses from any high point for ALXO and HRMY.

Drawdown Indicators

	ALXO	HRMY	Difference
Max Drawdown Largest peak-to-trough decline	-99.64%	-68.48%	-31.16%
Max Drawdown (1Y) Largest decline over 1 year	-50.46%	-34.49%	-15.97%
Max Drawdown (3Y) Largest decline over 3 years	-97.69%	-50.81%	-46.88%
Max Drawdown (5Y) Largest decline over 5 years	-99.50%	-68.48%	-31.02%
Current Drawdown Current decline from peak	-98.51%	-47.30%	-51.21%
Average Drawdown Average peak-to-trough decline	-79.13%	-35.20%	-43.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.08%	18.69%	+6.39%

Volatility

ALXO vs. HRMY - Volatility Comparison

ALX Oncology Holdings Inc. (ALXO) has a higher volatility of 20.74% compared to Harmony Biosciences Holdings, Inc. (HRMY) at 10.05%. This indicates that ALXO's price experiences larger fluctuations and is considered to be riskier than HRMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALXO	HRMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.74%	10.05%	+10.69%
Volatility (6M) Calculated over the trailing 6-month period	61.67%	30.17%	+31.50%
Volatility (1Y) Calculated over the trailing 1-year period	115.82%	41.40%	+74.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	99.42%	50.04%	+49.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	98.60%	52.40%	+46.20%

Dividends

ALXO vs. HRMY - Dividend Comparison

Neither ALXO nor HRMY has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both ALXO and HRMY in my portfolio?

ALXO and HRMY have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ALXO or HRMY?

ALXO has higher volatility (20.74%) compared to HRMY (10.05%). In terms of maximum drawdown, ALXO dropped -99.64% vs HRMY's -68.48%.

Which has better risk-adjusted returns?

ALXO currently has the higher Sharpe Ratio (1.75 vs -0.22), 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.