APLS vs. ADI

Last updated Jun 4, 2026

APLS (Apellis Pharmaceuticals, Inc.) and ADI (Analog Devices, Inc.) are both stocks. APLS operates in Biotechnology (Healthcare), while ADI operates in Semiconductors (Technology). Over the past 5 years, APLS returned -1.50%/yr vs 23.53%/yr for ADI. At a 0.26 correlation, their price movements are largely independent.

Performance

APLS vs. ADI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Apellis Pharmaceuticals, Inc. (APLS) and Analog Devices, Inc. (ADI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with APLS having a 63.34% return and ADI slightly lower at 62.33%.

APLS

• 1D: 0.00%
• 1M: 0.15%
• YTD: 63.34%
• 6M: 93.08%
• 1Y: 118.01%
• 3Y*: -22.49%
• 5Y*: -1.50%
• 10Y*: —

ADI

• 1D: 3.42%
• 1M: 10.54%
• YTD: 62.33%
• 6M: 58.78%
• 1Y: 103.99%
• 3Y*: 36.71%
• 5Y*: 23.53%
• 10Y*: 24.70%

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

APLS vs. ADI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APLS Apellis Pharmaceuticals, Inc.	63.34%	-21.28%	-46.69%	15.76%	9.37%	-17.34%	86.81%	132.15%	-39.22%	54.67%
ADI Analog Devices, Inc.	62.33%	29.75%	8.82%	23.36%	-4.91%	20.96%	26.87%	41.31%	-1.64%	-0.22%

Correlation

The correlation between APLS and ADI is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (All Time) Calculated using the full available price history since Nov 10, 2017	0.26

The correlation between APLS and ADI shifts across timeframes, from 0.11 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.

Fundamentals

EPS APLS : $1.41 ADI : $6.72
PE Ratio APLS : 29.10 ADI : 65.12
PS Ratio APLS : 3.77 ADI : 16.94
Total Revenue (TTM) APLS : $1.03B ADI : $12.74B
Gross Profit (TTM) APLS : $920.13M ADI : $8.22B
EBITDA (TTM) APLS : $176.85M ADI : $6.19B

Return for Risk

APLS vs. ADI — Risk / Return Rank

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

APLS

APLS Risk / Return Rank: 85
APLS Sharpe Ratio Rank: 71
APLS Sortino Ratio Rank: 93
APLS Omega Ratio Rank: 95
APLS Calmar Ratio Rank: 84
APLS Martin Ratio Rank: 82

ADI

ADI Risk / Return Rank: 95
ADI Sharpe Ratio Rank: 96
ADI Sortino Ratio Rank: 95
ADI Omega Ratio Rank: 93
ADI Calmar Ratio Rank: 94
ADI Martin Ratio Rank: 94

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.

APLS vs. ADI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Apellis Pharmaceuticals, Inc. (APLS) and Analog Devices, Inc. (ADI). 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.

	APLS	ADI	Difference
Sharpe ratio Return per unit of total volatility	0.99	3.39	-2.40
Sortino ratio Return per unit of downside risk	3.67	4.25	-0.58
Omega ratio Gain probability vs. loss probability	1.58	1.52	+0.05
Calmar ratio Return relative to maximum drawdown	3.37	6.65	-3.28
Martin ratio Return relative to average drawdown	7.45	18.71	-11.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APLS vs. ADI - Sharpe Ratio Comparison

The current APLS Sharpe Ratio is 0.99, which is lower than the ADI Sharpe Ratio of 3.39. The chart below compares the historical Sharpe Ratios of APLS and ADI, 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

	APLS	ADI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.99	3.39	-2.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	0.72	-0.74
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.34	-0.18

Drawdowns

APLS vs. ADI - Drawdown Comparison

The maximum APLS drawdown since its inception was -82.47%, roughly equal to the maximum ADI drawdown of -82.88%. Use the drawdown chart below to compare losses from any high point for APLS and ADI.

Drawdown Indicators

	APLS	ADI	Difference
Max Drawdown Largest peak-to-trough decline	-82.47%	-82.88%	+0.41%
Max Drawdown (1Y) Largest decline over 1 year	-43.53%	-15.73%	-27.80%
Max Drawdown (3Y) Largest decline over 3 years	-82.47%	-32.20%	-50.27%
Max Drawdown (5Y) Largest decline over 5 years	-82.47%	-32.20%	-50.27%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.62%	—
Current Drawdown Current decline from peak	-56.03%	0.00%	-56.03%
Average Drawdown Average peak-to-trough decline	-37.13%	-33.93%	-3.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.63%	5.58%	+14.05%

Volatility

APLS vs. ADI - Volatility Comparison

The current volatility for Apellis Pharmaceuticals, Inc. (APLS) is 0.54%, while Analog Devices, Inc. (ADI) has a volatility of 12.61%. This indicates that APLS experiences smaller price fluctuations and is considered to be less risky than ADI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APLS	ADI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.54%	12.61%	-12.07%
Volatility (6M) Calculated over the trailing 6-month period	91.44%	23.79%	+67.65%
Volatility (1Y) Calculated over the trailing 1-year period	147.98%	30.90%	+117.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	91.01%	32.91%	+58.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.60%	32.67%	+50.93%

Dividends

APLS vs. ADI - Dividend Comparison

APLS has not paid dividends to shareholders, while ADI's dividend yield for the trailing twelve months is around 1.18%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADI Analog Devices, Inc.	1.18%	1.46%	1.73%	1.73%	1.85%	1.57%	1.68%	1.82%	2.24%	2.02%	2.31%	2.89%
APLS Apellis Pharmaceuticals, 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

APLS vs. ADI - Profitability Comparison

The chart below illustrates the profitability comparison between Apellis Pharmaceuticals, Inc. and Analog Devices, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

APLS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Apellis Pharmaceuticals, Inc. reported a gross profit of 151.46M and revenue of 192.01M. Therefore, the gross margin over that period was 78.9%.

ADI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Analog Devices, Inc. reported a gross profit of 2.44B and revenue of 3.62B. Therefore, the gross margin over that period was 67.3%.

APLS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Apellis Pharmaceuticals, Inc. reported an operating income of 26.47M and revenue of 192.01M, resulting in an operating margin of 13.8%.

ADI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Analog Devices, Inc. reported an operating income of 1.38B and revenue of 3.62B, resulting in an operating margin of 38.1%.

APLS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Apellis Pharmaceuticals, Inc. reported a net income of 18.66M and revenue of 192.01M, resulting in a net margin of 9.7%.

ADI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Analog Devices, Inc. reported a net income of 1.18B and revenue of 3.62B, resulting in a net margin of 32.5%.

Frequently Asked Questions

Can I hold both APLS and ADI in my portfolio?

APLS and ADI have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APLS or ADI?

ADI has higher volatility (12.61%) compared to APLS (0.54%). In terms of maximum drawdown, APLS dropped -82.47% vs ADI's -82.88%.

Which has better risk-adjusted returns?

ADI currently has the higher Sharpe Ratio (3.39 vs 0.99), 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.