AP vs. USAR

Last updated Aug 1, 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 159.35% vs 7.25% for USAR. Their 0.22 correlation means their historical movements had little consistent relationship.

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

In the year-to-date period, AP achieves a 50.84% return, which is significantly higher than USAR's 25.63% return.

AP

• 1D: -3.37%
• 1M: 9.39%
• 6M: 44.34%
• YTD: 50.84%
• 1Y: 159.35%
• 3Y*: 27.82%
• 5Y*: 5.23%
• 10Y*: -3.65%
• ALL TIME*: -0.33%

USAR

• 1D: 2.05%
• 1M: -21.93%
• 6M: -33.32%
• YTD: 25.63%
• 1Y: 7.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 31.65%

*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)
AP Ampco-Pittsburgh Corporation	$974.40K	$1.44M	$1.89M
USAR USA Rare Earth, Inc	$161.50M	$169.19M	$327.63M

AP vs. USAR - Yearly Performance Comparison

	2026 (YTD)	2025
AP Ampco-Pittsburgh Corporation	50.84%	145.62%
USAR USA Rare Earth, Inc	25.63%	16.32%

Correlation

The correlation between AP and USAR is 0.35, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.35
Correlation (All Time) Calculated using the full available price history since Mar 14, 2025	0.22

The correlation between AP and USAR shifts across timeframes, from 0.22 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap AP : $163.42M USAR : $1.44B
EPS AP : -$3.36 USAR : -$4.98
PS Ratio AP : 0.38 USAR : 3.91
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 historical risk-adjusted metric ranks over the past 12 months.

AP

AP Risk / Return Rank: 86
AP Sharpe Ratio Rank: 89
AP Sortino Ratio Rank: 86
AP Omega Ratio Rank: 81
AP Calmar Ratio Rank: 88
AP Martin Ratio Rank: 84

USAR

USAR Risk / Return Rank: 55
USAR Sharpe Ratio Rank: 51
USAR Sortino Ratio Rank: 63
USAR Omega Ratio Rank: 57
USAR Calmar Ratio Rank: 52
USAR Martin Ratio Rank: 50

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.

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	1.73	0.15	+1.58
Sortino ratio: Return per unit of downside risk	2.45	1.14	+1.31
Omega ratio: Gain probability vs. loss probability	1.27	1.12	+0.15
Calmar ratio: Return relative to maximum drawdown	3.20	0.26	+2.94
Martin ratio: Return relative to average drawdown	6.62	0.39	+6.24

AP vs. USAR - Sharpe Ratio Comparison

The current AP Sharpe Ratio is 1.73, which is higher than the USAR Sharpe Ratio of 0.15. 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	-46.84%	-69.23%	+22.39%
Max Drawdown (3Y) Largest decline over 3 years	-80.67%	—	—
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	-79.19%	-61.35%	-17.84%
Average Drawdown Average peak-to-trough decline	-52.31%	-41.96%	-10.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.57%	45.71%	-23.14%

Volatility

AP vs. USAR - Volatility Comparison

The current volatility for Ampco-Pittsburgh Corporation (AP) is 23.64%, while USA Rare Earth, Inc (USAR) has a volatility of 24.93%. 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	23.64%	24.93%	-1.29%
Volatility (6M) Calculated over the trailing 6-month period	67.11%	73.39%	-6.28%
Volatility (1Y) Calculated over the trailing 1-year period	86.93%	116.87%	-29.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.59%	153.03%	-77.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.02%	153.03%	-80.01%

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 0.35, 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 (24.93%) compared to AP (23.64%). 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 (1.73 vs 0.15), 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.