APLD vs. RGTI

Last updated Jun 9, 2026

APLD (Applied Digital Corporation) and RGTI (Rigetti Computing Inc) are both stocks. Both are in the Technology sector — APLD in Information Technology Services, RGTI in Computer Hardware. Over the past 5 years, APLD returned 111.39%/yr vs 17.30%/yr for RGTI. At a 0.32 correlation, their price movements are largely independent.

Performance

APLD vs. RGTI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Applied Digital Corporation (APLD) and Rigetti Computing Inc (RGTI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APLD achieves a 66.99% return, which is significantly higher than RGTI's -1.74% return.

APLD

• 1D: 3.34%
• 1M: -0.74%
• YTD: 66.99%
• 6M: 27.51%
• 1Y: 195.42%
• 3Y*: 72.37%
• 5Y*: 111.39%
• 10Y*: 120.60%

RGTI

• 1D: 5.25%
• 1M: 14.92%
• YTD: -1.74%
• 6M: -22.98%
• 1Y: 92.95%
• 3Y*: 153.88%
• 5Y*: 17.30%
• 10Y*: —

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

APLD vs. RGTI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
APLD Applied Digital Corporation	66.99%	220.94%	13.35%	266.30%	-56.09%	325.38%
RGTI Rigetti Computing Inc	-1.74%	45.15%	1,449.40%	35.07%	-92.91%	3.94%

Correlation

The correlation between APLD and RGTI is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (All Time) Calculated using the full available price history since Apr 22, 2021	0.32

Over the past year, APLD and RGTI have become more correlated (0.56) than their long-term average of 0.32, meaning their price movements have been converging.

Fundamentals

Market Cap APLD : $11.12B RGTI : $7.30B
EPS APLD : -$0.72 RGTI : -$0.71
PS Ratio APLD : 27.75 RGTI : 689.11
PB Ratio APLD : 7.06 RGTI : 12.51
Total Revenue (TTM) APLD : $390.57M RGTI : $10.02M
Gross Profit (TTM) APLD : $124.93M RGTI : $3.00M
EBITDA (TTM) APLD : -$154.66M RGTI : -$263.06M

Return for Risk

APLD vs. RGTI — Risk / Return Rank

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

APLD

APLD Risk / Return Rank: 86
APLD Sharpe Ratio Rank: 87
APLD Sortino Ratio Rank: 86
APLD Omega Ratio Rank: 81
APLD Calmar Ratio Rank: 88
APLD Martin Ratio Rank: 86

RGTI

RGTI Risk / Return Rank: 68
RGTI Sharpe Ratio Rank: 69
RGTI Sortino Ratio Rank: 76
RGTI Omega Ratio Rank: 69
RGTI Calmar Ratio Rank: 66
RGTI Martin Ratio Rank: 61

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.

APLD vs. RGTI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Applied Digital Corporation (APLD) and Rigetti Computing Inc (RGTI). 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.

	APLD	RGTI	Difference
Sharpe ratio: Return per unit of total volatility	1.84	0.86	+0.98
Sortino ratio: Return per unit of downside risk	2.68	1.97	+0.71
Omega ratio: Gain probability vs. loss probability	1.30	1.21	+0.09
Calmar ratio: Return relative to maximum drawdown	3.91	1.21	+2.70
Martin ratio: Return relative to average drawdown	9.14	1.89	+7.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APLD vs. RGTI - Sharpe Ratio Comparison

The current APLD Sharpe Ratio is 1.84, which is higher than the RGTI Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of APLD and RGTI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	APLD	RGTI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	0.86	+0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.13	+0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.13	-0.05

Drawdowns

APLD vs. RGTI - Drawdown Comparison

The maximum APLD drawdown since its inception was -99.70%, roughly equal to the maximum RGTI drawdown of -96.89%. Use the drawdown chart below to compare losses from any high point for APLD and RGTI.

Drawdown Indicators

	APLD	RGTI	Difference
Max Drawdown Largest peak-to-trough decline	-99.70%	-96.89%	-2.81%
Max Drawdown (1Y) Largest decline over 1 year	-50.31%	-77.10%	+26.79%
Max Drawdown (3Y) Largest decline over 3 years	-76.66%	-78.83%	+2.17%
Max Drawdown (5Y) Largest decline over 5 years	-82.61%	-96.89%	+14.28%
Max Drawdown (10Y) Largest decline over 10 years	-89.80%	—	—
Current Drawdown Current decline from peak	-17.53%	-61.37%	+43.84%
Average Drawdown Average peak-to-trough decline	-74.49%	-58.86%	-15.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.15%	49.35%	-27.20%

Volatility

APLD vs. RGTI - Volatility Comparison

The current volatility for Applied Digital Corporation (APLD) is 32.64%, while Rigetti Computing Inc (RGTI) has a volatility of 44.71%. This indicates that APLD experiences smaller price fluctuations and is considered to be less risky than RGTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APLD	RGTI	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.64%	44.71%	-12.07%
Volatility (6M) Calculated over the trailing 6-month period	80.09%	70.87%	+9.22%
Volatility (1Y) Calculated over the trailing 1-year period	107.26%	109.36%	-2.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	165.20%	128.92%	+36.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	301.59%	127.31%	+174.28%

Dividends

APLD vs. RGTI - Dividend Comparison

Neither APLD nor RGTI has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both APLD and RGTI in my portfolio?

APLD and RGTI have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APLD or RGTI?

RGTI has higher volatility (44.71%) compared to APLD (32.64%). In terms of maximum drawdown, APLD dropped -99.70% vs RGTI's -96.89%.

Which has better risk-adjusted returns?

APLD currently has the higher Sharpe Ratio (1.84 vs 0.86), 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.