AMPX vs. ONDS

Last updated Jun 6, 2026

AMPX (Amprius Technologies Inc.) and ONDS (Ondas Holdings Inc.) are both stocks. AMPX operates in Electrical Equipment & Parts (Industrials), while ONDS operates in Communication Equipment (Technology). Over the past 3 years, AMPX returned 32.52%/yr vs 133.48%/yr for ONDS. At a 0.30 correlation, their price movements are largely independent.

Performance

AMPX vs. ONDS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amprius Technologies Inc. (AMPX) and Ondas Holdings Inc. (ONDS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMPX achieves a 149.56% return, which is significantly higher than ONDS's 6.86% return.

AMPX

• 1D: -12.64%
• 1M: -11.27%
• YTD: 149.56%
• 6M: 61.66%
• 1Y: 648.67%
• 3Y*: 32.52%
• 5Y*: —
• 10Y*: —

ONDS

• 1D: -12.87%
• 1M: 11.67%
• YTD: 6.86%
• 6M: 14.99%
• 1Y: 560.13%
• 3Y*: 133.48%
• 5Y*: 2.88%
• 10Y*: —

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

AMPX vs. ONDS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AMPX Amprius Technologies Inc.	149.56%	181.79%	-47.07%	-33.29%	-20.70%
ONDS Ondas Holdings Inc.	6.86%	281.25%	67.32%	-3.77%	-62.23%

Correlation

The correlation between AMPX and ONDS is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (All Time) Calculated using the full available price history since Sep 16, 2022	0.30

The correlation between AMPX and ONDS shifts across timeframes, from 0.30 (all time) to 0.46 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

EPS AMPX : -$0.31 ONDS : $1.54
PS Ratio AMPX : 28.22 ONDS : 17.07
Total Revenue (TTM) AMPX : $90.26M ONDS : $96.60M
Gross Profit (TTM) AMPX : $16.37M ONDS : $43.33M
EBITDA (TTM) AMPX : -$17.72M ONDS : -$75.39M

Return for Risk

AMPX vs. ONDS — Risk / Return Rank

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

AMPX

AMPX Risk / Return Rank: 96
AMPX Sharpe Ratio Rank: 99
AMPX Sortino Ratio Rank: 94
AMPX Omega Ratio Rank: 92
AMPX Calmar Ratio Rank: 99
AMPX Martin Ratio Rank: 98

ONDS

ONDS Risk / Return Rank: 95
ONDS Sharpe Ratio Rank: 98
ONDS Sortino Ratio Rank: 93
ONDS Omega Ratio Rank: 89
ONDS Calmar Ratio Rank: 97
ONDS Martin Ratio Rank: 97

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.

AMPX vs. ONDS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amprius Technologies Inc. (AMPX) and Ondas Holdings Inc. (ONDS). 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.

	AMPX	ONDS	Difference
Sharpe ratio: Return per unit of total volatility	5.99	4.43	+1.56
Sortino ratio: Return per unit of downside risk	3.88	3.70	+0.18
Omega ratio: Gain probability vs. loss probability	1.47	1.42	+0.05
Calmar ratio: Return relative to maximum drawdown	14.11	10.59	+3.52
Martin ratio: Return relative to average drawdown	34.65	23.86	+10.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMPX vs. ONDS - Sharpe Ratio Comparison

The current AMPX Sharpe Ratio is 5.99, which is higher than the ONDS Sharpe Ratio of 4.43. The chart below compares the historical Sharpe Ratios of AMPX and ONDS, 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

	AMPX	ONDS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.99	4.43	+1.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	-0.03	+0.19

Drawdowns

AMPX vs. ONDS - Drawdown Comparison

The maximum AMPX drawdown since its inception was -94.49%, roughly equal to the maximum ONDS drawdown of -98.28%. Use the drawdown chart below to compare losses from any high point for AMPX and ONDS.

Drawdown Indicators

	AMPX	ONDS	Difference
Max Drawdown Largest peak-to-trough decline	-94.49%	-98.28%	+3.79%
Max Drawdown (1Y) Largest decline over 1 year	-46.41%	-53.37%	+6.96%
Max Drawdown (3Y) Largest decline over 3 years	-93.11%	-83.28%	-9.83%
Max Drawdown (5Y) Largest decline over 5 years	—	-96.99%	—
Current Drawdown Current decline from peak	-14.05%	-46.51%	+32.46%
Average Drawdown Average peak-to-trough decline	-55.17%	-71.53%	+16.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.86%	23.64%	-4.78%

Volatility

AMPX vs. ONDS - Volatility Comparison

Amprius Technologies Inc. (AMPX) has a higher volatility of 46.75% compared to Ondas Holdings Inc. (ONDS) at 43.43%. This indicates that AMPX's price experiences larger fluctuations and is considered to be riskier than ONDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMPX	ONDS	Difference
Volatility (1M) Calculated over the trailing 1-month period	46.75%	43.43%	+3.32%
Volatility (6M) Calculated over the trailing 6-month period	79.37%	78.33%	+1.04%
Volatility (1Y) Calculated over the trailing 1-year period	109.35%	128.04%	-18.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	128.88%	113.77%	+15.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	128.88%	120.89%	+7.99%

Dividends

AMPX vs. ONDS - Dividend Comparison

Neither AMPX nor ONDS has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both AMPX and ONDS in my portfolio?

AMPX and ONDS have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMPX or ONDS?

AMPX has higher volatility (46.75%) compared to ONDS (43.43%). In terms of maximum drawdown, AMPX dropped -94.49% vs ONDS's -98.28%.

Which has better risk-adjusted returns?

AMPX currently has the higher Sharpe Ratio (5.99 vs 4.43), 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.