APLD vs. MSTR
APLD (Applied Digital Corporation) and MSTR (Strategy Inc) are both stocks. Both are in the Technology sector — APLD in Information Technology Services, MSTR in Software - Application. Over the past 10 years, APLD returned 125.13%/yr vs 20.92%/yr for MSTR. At a 0.16 correlation, their price movements are largely independent.
Performance
APLD vs. MSTR - Performance Comparison
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Returns By Period
In the year-to-date period, APLD achieves a 74.14% return, which is significantly higher than MSTR's -18.41% return. Over the past 10 years, APLD has outperformed MSTR with an annualized return of 125.13%, while MSTR has yielded a comparatively lower 20.92% annualized return.
APLD
- 1D
- 2.97%
- 1M
- -6.11%
- YTD
- 74.14%
- 6M
- 53.27%
- 1Y
- 241.33%
- 3Y*
- 69.23%
- 5Y*
- 112.30%
- 10Y*
- 125.13%
MSTR
- 1D
- 3.18%
- 1M
- -30.37%
- YTD
- -18.41%
- 6M
- -29.74%
- 1Y
- -67.36%
- 3Y*
- 63.46%
- 5Y*
- 19.14%
- 10Y*
- 20.92%
APLD vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
APLD Applied Digital Corporation | 74.14% | 220.94% | 13.35% | 266.30% | -56.09% | 11,789.90% | 389.44% | -34.55% | 64.99% | -33.33% |
MSTR Strategy Inc | -18.41% | -47.53% | 358.54% | 346.15% | -74.00% | 40.13% | 172.42% | 11.65% | -2.70% | -33.49% |
Correlation
The correlation between APLD and MSTR is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2008 | 0.16 |
Over the past year, APLD and MSTR have become more correlated (0.37) than their long-term average of 0.16, meaning their price movements have been converging.
Fundamentals
APLD:
$11.60B
MSTR:
$41.40B
APLD:
-$0.72
MSTR:
-$40.19
APLD:
28.94
MSTR:
77.72
APLD:
7.37
MSTR:
1.13
APLD:
$390.57M
MSTR:
$490.47M
APLD:
$124.93M
MSTR:
$334.08M
APLD:
-$154.66M
MSTR:
$466.93M
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Return for Risk
APLD vs. MSTR — Risk / Return Rank
APLD
MSTR
APLD vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Applied Digital Corporation (APLD) and Strategy Inc (MSTR). 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.
| APLD | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.22 | ||
| Sortino ratioReturn per unit of downside risk | +4.63 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 0.82 | +0.51 |
| Calmar ratioReturn relative to maximum drawdown | 4.83 | -0.88 | +5.71 |
| Martin ratioReturn relative to average drawdown | 11.72 | -1.27 | +12.99 |
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Drawdowns
APLD vs. MSTR - Drawdown Comparison
The maximum APLD drawdown since its inception was -99.73%, roughly equal to the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for APLD and MSTR.
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Drawdown Indicators
| APLD | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.73% | -99.86% | +0.13% |
Max Drawdown (1Y)Largest decline over 1 year | -50.31% | -76.53% | +26.22% |
Max Drawdown (3Y)Largest decline over 3 years | -76.66% | -77.42% | +0.76% |
Max Drawdown (5Y)Largest decline over 5 years | -82.61% | -84.11% | +1.50% |
Max Drawdown (10Y)Largest decline over 10 years | -89.80% | -89.27% | -0.53% |
Current DrawdownCurrent decline from peak | -14.00% | -73.84% | +59.84% |
Average DrawdownAverage peak-to-trough decline | -74.86% | -86.45% | +11.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.22% | 53.01% | -31.79% |
Volatility
APLD vs. MSTR - Volatility Comparison
Applied Digital Corporation (APLD) has a higher volatility of 33.15% compared to Strategy Inc (MSTR) at 21.60%. This indicates that APLD's price experiences larger fluctuations and is considered to be riskier than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APLD | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.15% | 21.60% | +11.55% |
Volatility (6M)Calculated over the trailing 6-month period | 80.49% | 57.34% | +23.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 107.13% | 71.15% | +35.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 165.20% | 90.79% | +74.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 301.46% | 73.80% | +227.66% |
Dividends
APLD vs. MSTR - Dividend Comparison
Neither APLD nor MSTR has paid dividends to shareholders.
Financials
APLD vs. MSTR - Financials Comparison
This section allows you to compare key financial metrics between Applied Digital Corporation and Strategy Inc. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
APLD and MSTR have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APLD has higher volatility (33.15%) compared to MSTR (21.60%). In terms of maximum drawdown, APLD dropped -99.73% vs MSTR's -99.86%.
APLD currently has the higher Sharpe Ratio (2.27 vs -0.95), 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.
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