AMPX vs. ONDS

Last updated Aug 5, 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 15.64%/yr vs 81.99%/yr for ONDS. Their 0.31 correlation means their historical movements had little consistent relationship.

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 37.01% return, which is significantly higher than ONDS's -9.22% return.

AMPX

• 1D: 6.82%
• 1M: -12.68%
• 6M: -26.36%
• YTD: 37.01%
• 1Y: 43.37%
• 3Y*: 15.64%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.80%

ONDS

• 1D: 5.85%
• 1M: 19.57%
• 6M: -22.14%
• YTD: -9.22%
• 1Y: 231.84%
• 3Y*: 81.99%
• 5Y*: 2.63%
• 10Y*: —
• ALL TIME*: -5.27%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AMPX Amprius Technologies Inc.	$54.62M	$64.00M	$123.20M
ONDS Ondas Holdings Inc.	$628.11M	$770.31M	$779.91M

AMPX vs. ONDS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AMPX Amprius Technologies Inc.	37.01%	181.79%	-47.07%	-33.29%	-11.99%
ONDS Ondas Holdings Inc.	-9.22%	281.25%	67.32%	-3.77%	-63.02%

Correlation

The correlation between AMPX and ONDS is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.54
Correlation (3Y) Balances recent behavior with more history.	0.34
Correlation (All Time) Calculated using the full available price history since Sep 15, 2022	0.31

Over the past year, AMPX and ONDS have become more correlated (0.54) than their long-term average of 0.31, meaning their price movements have been converging.

Fundamentals

Market Cap AMPX : $1.53B ONDS : $5.05B
EPS AMPX : -$0.29 ONDS : $1.52
PS Ratio AMPX : 13.26 ONDS : 14.73
Total Revenue (TTM) AMPX : $109.23M ONDS : $96.60M
Gross Profit (TTM) AMPX : $24.31M ONDS : $43.33M
EBITDA (TTM) AMPX : -$35.22M ONDS : -$75.39M

Return for Risk

AMPX vs. ONDS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AMPX

AMPX Risk / Return Rank: 60
AMPX Sharpe Ratio Rank: 58
AMPX Sortino Ratio Rank: 64
AMPX Omega Ratio Rank: 60
AMPX Calmar Ratio Rank: 59
AMPX Martin Ratio Rank: 61

ONDS

ONDS Risk / Return Rank: 88
ONDS Sharpe Ratio Rank: 89
ONDS Sortino Ratio Rank: 88
ONDS Omega Ratio Rank: 83
ONDS Calmar Ratio Rank: 93
ONDS Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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.

	AMPX	ONDS	Difference
Sharpe ratio: Return per unit of total volatility	0.41	1.87	-1.46
Sortino ratio: Return per unit of downside risk	1.30	2.69	-1.39
Omega ratio: Gain probability vs. loss probability	1.15	1.30	-0.15
Calmar ratio: Return relative to maximum drawdown	0.69	4.37	-3.68
Martin ratio: Return relative to average drawdown	1.66	8.06	-6.40

AMPX vs. ONDS - Sharpe Ratio Comparison

The current AMPX Sharpe Ratio is 0.41, which is lower than the ONDS Sharpe Ratio of 1.87. 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.

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	-63.16%	-53.43%	-9.73%
Max Drawdown (3Y) Largest decline over 3 years	-89.85%	-77.14%	-12.71%
Max Drawdown (5Y) Largest decline over 5 years	—	-96.99%	—
Current Drawdown Current decline from peak	-52.82%	-54.56%	+1.74%
Average Drawdown Average peak-to-trough decline	-54.70%	-71.16%	+16.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.13%	28.90%	-2.77%

Volatility

AMPX vs. ONDS - Volatility Comparison

Amprius Technologies Inc. (AMPX) and Ondas Holdings Inc. (ONDS) have volatilities of 28.19% and 29.63%, 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

	AMPX	ONDS	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.19%	29.63%	-1.44%
Volatility (6M) Calculated over the trailing 6-month period	81.06%	73.02%	+8.04%
Volatility (1Y) Calculated over the trailing 1-year period	106.76%	126.38%	-19.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	127.75%	114.56%	+13.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	127.75%	120.14%	+7.61%

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 0.54, 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?

ONDS has higher volatility (29.63%) compared to AMPX (28.19%). In terms of maximum drawdown, AMPX dropped -94.49% vs ONDS's -98.28%.

Which has better risk-adjusted returns?

ONDS currently has the higher Sharpe Ratio (1.87 vs 0.41), 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.