ANRO vs. TOI

Last updated Aug 1, 2026

ANRO (Alto Neuroscience, Inc) and TOI (The Oncology Institute, Inc.) are both stocks. Both are in the Healthcare sector — ANRO in Biotechnology, TOI in Medical Care Facilities. Over the past year, ANRO returned 787.54% vs 30.29% for TOI. Their 0.13 correlation means their historical movements had little consistent relationship.

Performance

ANRO vs. TOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alto Neuroscience, Inc (ANRO) and The Oncology Institute, Inc. (TOI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ANRO achieves a 52.08% return, which is significantly higher than TOI's 36.52% return.

ANRO

• 1D: -5.45%
• 1M: 9.24%
• 6M: 74.87%
• YTD: 52.08%
• 1Y: 787.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.68%

TOI

• 1D: -4.14%
• 1M: -7.95%
• 6M: 79.34%
• YTD: 36.52%
• 1Y: 30.29%
• 3Y*: 66.65%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -14.61%

*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)
ANRO Alto Neuroscience, Inc	$10.54M	$15.51M	$12.41M
TOI The Oncology Institute, Inc.	$7.12M	$10.60M	$9.57M

ANRO vs. TOI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ANRO Alto Neuroscience, Inc	52.08%	320.80%	-80.77%
TOI The Oncology Institute, Inc.	36.52%	1,052.10%	-85.42%

Correlation

The correlation between ANRO and TOI is 0.28, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.28
Correlation (All Time) Calculated using the full available price history since Feb 2, 2024	0.13

The correlation between ANRO and TOI shifts across timeframes, from 0.13 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap ANRO : $949.99M TOI : $485.92M
EPS ANRO : -$2.43 TOI : -$0.04
Total Revenue (TTM) ANRO : $0.00 TOI : $545.76M
Gross Profit (TTM) ANRO : -$421.00K TOI : $52.24M
EBITDA (TTM) ANRO : -$74.36M TOI : -$21.81M

Return for Risk

ANRO vs. TOI — Risk / Return Rank

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

ANRO

ANRO Risk / Return Rank: 99
ANRO Sharpe Ratio Rank: 100
ANRO Sortino Ratio Rank: 99
ANRO Omega Ratio Rank: 98
ANRO Calmar Ratio Rank: 100
ANRO Martin Ratio Rank: 100

TOI

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

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.

ANRO vs. TOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alto Neuroscience, Inc (ANRO) and The Oncology Institute, Inc. (TOI). 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.

	ANRO	TOI	Difference
Sharpe ratio: Return per unit of total volatility	6.15	0.42	+5.73
Sortino ratio: Return per unit of downside risk	5.38	1.19	+4.19
Omega ratio: Gain probability vs. loss probability	1.67	1.14	+0.53
Calmar ratio: Return relative to maximum drawdown	23.08	0.65	+22.43
Martin ratio: Return relative to average drawdown	60.27	1.30	+58.97

ANRO vs. TOI - Sharpe Ratio Comparison

The current ANRO Sharpe Ratio is 6.15, which is higher than the TOI Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of ANRO and TOI, 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

ANRO vs. TOI - Drawdown Comparison

The maximum ANRO drawdown since its inception was -91.82%, smaller than the maximum TOI drawdown of -98.79%. Use the drawdown chart below to compare losses from any high point for ANRO and TOI.

Drawdown Indicators

	ANRO	TOI	Difference
Max Drawdown Largest peak-to-trough decline	-91.82%	-98.79%	+6.97%
Max Drawdown (1Y) Largest decline over 1 year	-34.20%	-49.79%	+15.59%
Max Drawdown (3Y) Largest decline over 3 years	—	-94.82%	—
Current Drawdown Current decline from peak	-5.45%	-55.45%	+50.00%
Average Drawdown Average peak-to-trough decline	-51.13%	-73.44%	+22.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.07%	24.99%	-11.92%

Volatility

ANRO vs. TOI - Volatility Comparison

The current volatility for Alto Neuroscience, Inc (ANRO) is 17.38%, while The Oncology Institute, Inc. (TOI) has a volatility of 21.14%. This indicates that ANRO experiences smaller price fluctuations and is considered to be less risky than TOI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ANRO	TOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.38%	21.14%	-3.76%
Volatility (6M) Calculated over the trailing 6-month period	54.83%	50.50%	+4.33%
Volatility (1Y) Calculated over the trailing 1-year period	128.32%	76.66%	+51.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	113.58%	112.20%	+1.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	113.58%	112.20%	+1.38%

Dividends

ANRO vs. TOI - Dividend Comparison

Neither ANRO nor TOI has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both ANRO and TOI in my portfolio?

ANRO and TOI have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ANRO or TOI?

TOI has higher volatility (21.14%) compared to ANRO (17.38%). In terms of maximum drawdown, ANRO dropped -91.82% vs TOI's -98.79%.

Which has better risk-adjusted returns?

ANRO currently has the higher Sharpe Ratio (6.15 vs 0.42), 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.