AP vs. USAR

Last updated Jun 23, 2026

AP (Ampco-Pittsburgh Corporation) and USAR (USA Rare Earth, Inc) are both stocks. AP operates in Metal Fabrication (Industrials), while USAR operates in Other Industrial Metals & Mining (Basic Materials). Over the past year, AP returned 255.85% vs 98.68% for USAR. At a 0.19 correlation, their price movements are largely independent.

Performance

AP vs. USAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ampco-Pittsburgh Corporation (AP) and USA Rare Earth, Inc (USAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with AP having a 99.62% return and USAR slightly higher at 102.69%.

AP

• 1D: -1.48%
• 1M: 4.72%
• YTD: 99.62%
• 6M: 165.34%
• 1Y: 255.85%
• 3Y*: 53.88%
• 5Y*: 11.51%
• 10Y*: -0.81%

USAR

• 1D: -2.11%
• 1M: -4.66%
• YTD: 102.69%
• 6M: 71.79%
• 1Y: 98.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AP vs. USAR - Yearly Performance Comparison

	2026 (YTD)	2025
AP Ampco-Pittsburgh Corporation	99.62%	145.62%
USAR USA Rare Earth, Inc	102.69%	16.32%

Correlation

The correlation between AP and USAR is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (All Time) Calculated using the full available price history since Mar 14, 2025	0.19

Fundamentals

EPS AP : -$3.37 USAR : -$4.85
PS Ratio AP : 0.50 USAR : 6.47
Total Revenue (TTM) AP : $433.03M USAR : $319.83M
Gross Profit (TTM) AP : $53.11M USAR : $253.66M
EBITDA (TTM) AP : $20.56M USAR : -$324.99M

Return for Risk

AP vs. USAR — Risk / Return Rank

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

AP

AP Risk / Return Rank: 91
AP Sharpe Ratio Rank: 95
AP Sortino Ratio Rank: 91
AP Omega Ratio Rank: 87
AP Calmar Ratio Rank: 92
AP Martin Ratio Rank: 90

USAR

USAR Risk / Return Rank: 69
USAR Sharpe Ratio Rank: 68
USAR Sortino Ratio Rank: 76
USAR Omega Ratio Rank: 69
USAR Calmar Ratio Rank: 69
USAR Martin Ratio Rank: 64

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.

AP vs. USAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ampco-Pittsburgh Corporation (AP) and USA Rare Earth, Inc (USAR). 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.

	AP	USAR	Difference
Sharpe ratio: Return per unit of total volatility	3.00	0.82	+2.18
Sortino ratio: Return per unit of downside risk	3.22	1.95	+1.27
Omega ratio: Gain probability vs. loss probability	1.37	1.21	+0.16
Calmar ratio: Return relative to maximum drawdown	5.07	1.43	+3.64
Martin ratio: Return relative to average drawdown	11.46	2.34	+9.12

AP vs. USAR - Sharpe Ratio Comparison

The current AP Sharpe Ratio is 3.00, which is higher than the USAR Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of AP and USAR, 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

AP vs. USAR - Drawdown Comparison

The maximum AP drawdown since its inception was -98.06%, which is greater than USAR's maximum drawdown of -69.23%. Use the drawdown chart below to compare losses from any high point for AP and USAR.

Drawdown Indicators

	AP	USAR	Difference
Max Drawdown Largest peak-to-trough decline	-98.06%	-69.23%	-28.83%
Max Drawdown (1Y) Largest decline over 1 year	-50.80%	-69.23%	+18.43%
Max Drawdown (3Y) Largest decline over 3 years	-80.96%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-88.58%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-95.90%	—	—
Current Drawdown Current decline from peak	-72.46%	-37.64%	-34.82%
Average Drawdown Average peak-to-trough decline	-52.24%	-40.85%	-11.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.43%	42.27%	-19.84%

Volatility

AP vs. USAR - Volatility Comparison

The current volatility for Ampco-Pittsburgh Corporation (AP) is 24.08%, while USA Rare Earth, Inc (USAR) has a volatility of 32.24%. This indicates that AP experiences smaller price fluctuations and is considered to be less risky than USAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AP	USAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.08%	32.24%	-8.16%
Volatility (6M) Calculated over the trailing 6-month period	68.36%	78.46%	-10.10%
Volatility (1Y) Calculated over the trailing 1-year period	86.12%	121.32%	-35.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.88%	157.52%	-82.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.90%	157.52%	-84.62%

Dividends

AP vs. USAR - Dividend Comparison

Neither AP nor USAR has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AP Ampco-Pittsburgh Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.45%	2.69%	7.02%
USAR USA Rare Earth, Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both AP and USAR in my portfolio?

AP and USAR have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AP or USAR?

USAR has higher volatility (32.24%) compared to AP (24.08%). In terms of maximum drawdown, AP dropped -98.06% vs USAR's -69.23%.

Which has better risk-adjusted returns?

AP currently has the higher Sharpe Ratio (3.00 vs 0.82), 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.