APPN vs. PEGA
APPN (Appian Corporation) and PEGA (Pegasystems Inc.) are both stocks. Both are in the Technology sector — APPN in Software - Infrastructure, PEGA in Software - Application. Over the past 5 years, APPN returned -31.64%/yr vs -15.50%/yr for PEGA. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
APPN vs. PEGA - Performance Comparison
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Returns By Period
In the year-to-date period, APPN achieves a -41.19% return, which is significantly higher than PEGA's -49.84% return.
APPN
- 1D
- 1.56%
- 1M
- -2.53%
- YTD
- -41.19%
- 6M
- -42.96%
- 1Y
- -27.80%
- 3Y*
- -23.91%
- 5Y*
- -31.64%
- 10Y*
- —
PEGA
- 1D
- 0.27%
- 1M
- -12.90%
- YTD
- -49.84%
- 6M
- -51.78%
- 1Y
- -41.89%
- 3Y*
- 7.03%
- 5Y*
- -15.50%
- 10Y*
- 8.56%
APPN vs. PEGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
APPN Appian Corporation | -41.19% | 7.40% | -12.43% | 15.66% | -50.07% | -59.77% | 324.21% | 43.06% | -15.15% | 109.87% |
PEGA Pegasystems Inc. | -49.84% | 28.39% | 91.01% | 43.07% | -69.29% | -16.01% | 67.51% | 66.81% | 1.66% | -16.85% |
Correlation
The correlation between APPN and PEGA is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since May 25, 2017 | 0.55 |
The correlation between APPN and PEGA has been stable across timeframes, ranging from 0.55 to 0.63 - a consistent structural relationship.
Fundamentals
APPN:
$1.54B
PEGA:
$5.35B
APPN:
$0.01
PEGA:
$1.87
APPN:
1.74K
PEGA:
16.01
APPN:
2.02
PEGA:
3.21
APPN:
$762.69M
PEGA:
$1.70B
APPN:
$563.17M
PEGA:
$1.27B
APPN:
$32.83M
PEGA:
$211.67M
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Return for Risk
APPN vs. PEGA — Risk / Return Rank
APPN
PEGA
APPN vs. PEGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Appian Corporation (APPN) and Pegasystems Inc. (PEGA). 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.
| APPN | PEGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 0.86 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.47 | -0.75 | +0.28 |
| Martin ratioReturn relative to average drawdown | -0.85 | -1.50 | +0.65 |
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Drawdowns
APPN vs. PEGA - Drawdown Comparison
The maximum APPN drawdown since its inception was -92.04%, roughly equal to the maximum PEGA drawdown of -94.81%. Use the drawdown chart below to compare losses from any high point for APPN and PEGA.
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Drawdown Indicators
| APPN | PEGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.04% | -94.81% | +2.77% |
Max Drawdown (1Y)Largest decline over 1 year | -58.98% | -55.86% | -3.12% |
Max Drawdown (3Y)Largest decline over 3 years | -64.03% | -55.86% | -8.17% |
Max Drawdown (5Y)Largest decline over 5 years | -87.45% | -78.59% | -8.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -79.21% | — |
Current DrawdownCurrent decline from peak | -91.15% | -58.77% | -32.38% |
Average DrawdownAverage peak-to-trough decline | -54.53% | -44.87% | -9.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.75% | 27.88% | +4.87% |
Volatility
APPN vs. PEGA - Volatility Comparison
Appian Corporation (APPN) has a higher volatility of 24.44% compared to Pegasystems Inc. (PEGA) at 13.47%. This indicates that APPN's price experiences larger fluctuations and is considered to be riskier than PEGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APPN | PEGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.44% | 13.47% | +10.97% |
Volatility (6M)Calculated over the trailing 6-month period | 41.92% | 38.37% | +3.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.44% | 49.43% | +11.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.27% | 51.61% | +9.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.98% | 44.02% | +21.96% |
Dividends
APPN vs. PEGA - Dividend Comparison
APPN has not paid dividends to shareholders, while PEGA's dividend yield for the trailing twelve months is around 0.40%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
APPN Appian Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PEGA Pegasystems Inc. | 0.40% | 0.15% | 0.10% | 0.25% | 0.35% | 0.11% | 0.09% | 0.15% | 0.25% | 0.25% | 0.33% | 0.44% |
Financials
APPN vs. PEGA - Financials Comparison
This section allows you to compare key financial metrics between Appian Corporation and Pegasystems 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
APPN vs. PEGA - Profitability Comparison
APPN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Appian Corporation reported a gross profit of 147.77M and revenue of 202.18M. Therefore, the gross margin over that period was 73.1%.
PEGA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Pegasystems Inc. reported a gross profit of 323.22M and revenue of 429.97M. Therefore, the gross margin over that period was 75.2%.
APPN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Appian Corporation reported an operating income of 3.16M and revenue of 202.18M, resulting in an operating margin of 1.6%.
PEGA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Pegasystems Inc. reported an operating income of 37.15M and revenue of 429.97M, resulting in an operating margin of 8.6%.
APPN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Appian Corporation reported a net income of -1.53M and revenue of 202.18M, resulting in a net margin of -0.8%.
PEGA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Pegasystems Inc. reported a net income of 32.76M and revenue of 429.97M, resulting in a net margin of 7.6%.
Frequently Asked Questions
APPN and PEGA have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APPN has higher volatility (24.44%) compared to PEGA (13.47%). In terms of maximum drawdown, APPN dropped -92.04% vs PEGA's -94.81%.
APPN currently has the higher Sharpe Ratio (-0.46 vs -0.85), 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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