AQST vs. WVE
AQST (Aquestive Therapeutics, Inc.) and WVE (Wave Life Sciences Ltd.) are both stocks. Both are in the Healthcare sector — AQST in Drug Manufacturers - Specialty & Generic, WVE in Biotechnology. Over the past 5 years, AQST returned 3.09%/yr vs -3.43%/yr for WVE. At a 0.25 correlation, their price movements are largely independent.
Performance
AQST vs. WVE - Performance Comparison
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Returns By Period
In the year-to-date period, AQST achieves a -22.14% return, which is significantly higher than WVE's -64.47% return.
AQST
- 1D
- 6.57%
- 1M
- 22.09%
- YTD
- -22.14%
- 6M
- -14.31%
- 1Y
- 52.89%
- 3Y*
- 40.08%
- 5Y*
- 3.09%
- 10Y*
- —
WVE
- 1D
- -2.11%
- 1M
- -5.33%
- YTD
- -64.47%
- 6M
- -65.45%
- 1Y
- -13.22%
- 3Y*
- 17.32%
- 5Y*
- -3.43%
- 10Y*
- -11.39%
AQST vs. WVE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
AQST Aquestive Therapeutics, Inc. | -22.14% | 81.46% | 76.24% | 123.92% | -76.81% | -27.29% | -8.08% | -7.62% | -58.14% |
WVE Wave Life Sciences Ltd. | -64.47% | 37.43% | 144.95% | -27.86% | 122.93% | -60.10% | -1.81% | -80.93% | 8.91% |
Correlation
The correlation between AQST and WVE is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2018 | 0.25 |
The correlation between AQST and WVE shifts across timeframes, from 0.25 (all time) to 0.39 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
AQST:
$616.73M
WVE:
$1.21B
AQST:
-$0.61
WVE:
-$1.03
AQST:
11.37
WVE:
14.98
AQST:
$50.27M
WVE:
$71.80M
AQST:
$20.92M
WVE:
$29.09M
AQST:
-$53.08M
WVE:
-$184.40M
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Return for Risk
AQST vs. WVE — Risk / Return Rank
AQST
WVE
AQST vs. WVE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aquestive Therapeutics, Inc. (AQST) and Wave Life Sciences Ltd. (WVE). 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.
| AQST | WVE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.19 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | -0.18 | +1.06 |
| Martin ratioReturn relative to average drawdown | 1.63 | -0.32 | +1.95 |
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Drawdowns
AQST vs. WVE - Drawdown Comparison
The maximum AQST drawdown since its inception was -96.68%, roughly equal to the maximum WVE drawdown of -97.77%. Use the drawdown chart below to compare losses from any high point for AQST and WVE.
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Drawdown Indicators
| AQST | WVE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.68% | -97.77% | +1.09% |
Max Drawdown (1Y)Largest decline over 1 year | -60.61% | -73.44% | +12.83% |
Max Drawdown (3Y)Largest decline over 3 years | -63.55% | -73.44% | +9.89% |
Max Drawdown (5Y)Largest decline over 5 years | -90.11% | -82.72% | -7.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -97.77% | — |
Current DrawdownCurrent decline from peak | -73.47% | -89.06% | +15.59% |
Average DrawdownAverage peak-to-trough decline | -76.92% | -64.88% | -12.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.55% | 40.94% | -8.39% |
Volatility
AQST vs. WVE - Volatility Comparison
The current volatility for Aquestive Therapeutics, Inc. (AQST) is 13.42%, while Wave Life Sciences Ltd. (WVE) has a volatility of 16.53%. This indicates that AQST experiences smaller price fluctuations and is considered to be less risky than WVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AQST | WVE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.42% | 16.53% | -3.11% |
Volatility (6M)Calculated over the trailing 6-month period | 68.81% | 79.20% | -10.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 85.11% | 168.70% | -83.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.71% | 114.67% | -31.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.63% | 98.97% | -11.34% |
Dividends
AQST vs. WVE - Dividend Comparison
Neither AQST nor WVE has paid dividends to shareholders.
Financials
AQST vs. WVE - Financials Comparison
This section allows you to compare key financial metrics between Aquestive Therapeutics, Inc. and Wave Life Sciences Ltd.. 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
AQST vs. WVE - Profitability Comparison
AQST - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Aquestive Therapeutics, Inc. reported a gross profit of 0.00 and revenue of 14.45M. Therefore, the gross margin over that period was 0.0%.
WVE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Wave Life Sciences Ltd. reported a gross profit of 0.00 and revenue of 38.25M. Therefore, the gross margin over that period was 0.0%.
AQST - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Aquestive Therapeutics, Inc. reported an operating income of -4.20M and revenue of 14.45M, resulting in an operating margin of -29.1%.
WVE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Wave Life Sciences Ltd. reported an operating income of -31.30M and revenue of 38.25M, resulting in an operating margin of -81.8%.
AQST - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Aquestive Therapeutics, Inc. reported a net income of -8.06M and revenue of 14.45M, resulting in a net margin of -55.8%.
WVE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Wave Life Sciences Ltd. reported a net income of -26.09M and revenue of 38.25M, resulting in a net margin of -68.2%.
Frequently Asked Questions
AQST and WVE have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WVE has higher volatility (16.53%) compared to AQST (13.42%). In terms of maximum drawdown, AQST dropped -96.68% vs WVE's -97.77%.
AQST currently has the higher Sharpe Ratio (0.62 vs -0.08), 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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