AMPH vs. MRNA

Last updated Jun 4, 2026

AMPH (Amphastar Pharmaceuticals, Inc.) and MRNA (Moderna, Inc.) are both stocks. Both are in the Healthcare sector — AMPH in Drug Manufacturers - Specialty & Generic, MRNA in Biotechnology. Over the past 5 years, AMPH returned -0.72%/yr vs -24.95%/yr for MRNA. At a 0.15 correlation, their price movements are largely independent.

Performance

AMPH vs. MRNA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amphastar Pharmaceuticals, Inc. (AMPH) and Moderna, Inc. (MRNA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMPH achieves a -32.34% return, which is significantly lower than MRNA's 66.36% return.

AMPH

• 1D: -1.79%
• 1M: -20.32%
• YTD: -32.34%
• 6M: -34.30%
• 1Y: -30.33%
• 3Y*: -27.06%
• 5Y*: -0.72%
• 10Y*: 1.39%

MRNA

• 1D: 7.49%
• 1M: 3.72%
• YTD: 66.36%
• 6M: 94.84%
• 1Y: 76.41%
• 3Y*: -27.83%
• 5Y*: -24.95%
• 10Y*: —

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

AMPH vs. MRNA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
AMPH Amphastar Pharmaceuticals, Inc.	-32.34%	-27.88%	-39.97%	120.74%	20.31%	15.81%	4.25%	-3.07%	-9.50%
MRNA Moderna, Inc.	66.36%	-29.08%	-58.19%	-44.63%	-29.28%	143.11%	434.10%	28.09%	-17.90%

Correlation

The correlation between AMPH and MRNA is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Dec 10, 2018	0.15

Fundamentals

Market Cap AMPH : $841.82M MRNA : $19.38B
EPS AMPH : $1.67 MRNA : -$8.16
PS Ratio AMPH : 1.19 MRNA : 8.63
PB Ratio AMPH : 1.09 MRNA : 2.62
Total Revenue (TTM) AMPH : $720.53M MRNA : $2.23B
Gross Profit (TTM) AMPH : $341.13M MRNA : -$309.00M
EBITDA (TTM) AMPH : $155.96M MRNA : -$3.02B

Return for Risk

AMPH vs. MRNA — Risk / Return Rank

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

AMPH

AMPH Risk / Return Rank: 15
AMPH Sharpe Ratio Rank: 16
AMPH Sortino Ratio Rank: 19
AMPH Omega Ratio Rank: 18
AMPH Calmar Ratio Rank: 16
AMPH Martin Ratio Rank: 8

MRNA

MRNA Risk / Return Rank: 74
MRNA Sharpe Ratio Rank: 75
MRNA Sortino Ratio Rank: 75
MRNA Omega Ratio Rank: 70
MRNA Calmar Ratio Rank: 75
MRNA Martin Ratio Rank: 72

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.

AMPH vs. MRNA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amphastar Pharmaceuticals, Inc. (AMPH) and Moderna, Inc. (MRNA). 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.

	AMPH	MRNA	Difference
Sharpe ratio Return per unit of total volatility	-0.57	1.20	-1.77
Sortino ratio Return per unit of downside risk	-0.51	2.06	-2.57
Omega ratio Gain probability vs. loss probability	0.92	1.23	-0.31
Calmar ratio Return relative to maximum drawdown	-0.67	2.16	-2.84
Martin ratio Return relative to average drawdown	-1.39	4.28	-5.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMPH vs. MRNA - Sharpe Ratio Comparison

The current AMPH Sharpe Ratio is -0.57, which is lower than the MRNA Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of AMPH and MRNA, 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

	AMPH	MRNA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.57	1.20	-1.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	-0.38	+0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.03	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.19	-0.05

Drawdowns

AMPH vs. MRNA - Drawdown Comparison

The maximum AMPH drawdown since its inception was -74.05%, smaller than the maximum MRNA drawdown of -95.38%. Use the drawdown chart below to compare losses from any high point for AMPH and MRNA.

Drawdown Indicators

	AMPH	MRNA	Difference
Max Drawdown Largest peak-to-trough decline	-74.05%	-95.38%	+21.33%
Max Drawdown (1Y) Largest decline over 1 year	-45.25%	-35.51%	-9.74%
Max Drawdown (3Y) Largest decline over 3 years	-74.05%	-86.58%	+12.53%
Max Drawdown (5Y) Largest decline over 5 years	-74.05%	-95.38%	+21.33%
Max Drawdown (10Y) Largest decline over 10 years	-74.05%	—	—
Current Drawdown Current decline from peak	-72.12%	-89.87%	+17.75%
Average Drawdown Average peak-to-trough decline	-23.98%	-56.64%	+32.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.90%	17.89%	+4.01%

Volatility

AMPH vs. MRNA - Volatility Comparison

Amphastar Pharmaceuticals, Inc. (AMPH) has a higher volatility of 26.71% compared to Moderna, Inc. (MRNA) at 18.09%. This indicates that AMPH's price experiences larger fluctuations and is considered to be riskier than MRNA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMPH	MRNA	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.71%	18.09%	+8.62%
Volatility (6M) Calculated over the trailing 6-month period	45.74%	47.95%	-2.21%
Volatility (1Y) Calculated over the trailing 1-year period	53.42%	63.94%	-10.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.99%	66.40%	-21.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.65%	71.92%	-29.27%

Dividends

AMPH vs. MRNA - Dividend Comparison

Neither AMPH nor MRNA has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both AMPH and MRNA in my portfolio?

AMPH and MRNA have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMPH or MRNA?

AMPH has higher volatility (26.71%) compared to MRNA (18.09%). In terms of maximum drawdown, AMPH dropped -74.05% vs MRNA's -95.38%.

Which has better risk-adjusted returns?

MRNA currently has the higher Sharpe Ratio (1.20 vs -0.57), 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.