ARRY vs. PAA
ARRY (Array Technologies, Inc.) and PAA (Plains All American Pipeline, L.P.) are both stocks. ARRY operates in Solar (Technology), while PAA operates in Oil & Gas Midstream (Energy). Over the past 5 years, ARRY returned -13.61%/yr vs 22.23%/yr for PAA. At a 0.17 correlation, their price movements are largely independent.
Performance
ARRY vs. PAA - Performance Comparison
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Returns By Period
In the year-to-date period, ARRY achieves a -15.73% return, which is significantly lower than PAA's 30.01% return.
ARRY
- 1D
- 4.30%
- 1M
- -11.60%
- YTD
- -15.73%
- 6M
- -8.80%
- 1Y
- 4.58%
- 3Y*
- -29.95%
- 5Y*
- -13.61%
- 10Y*
- —
PAA
- 1D
- -0.18%
- 1M
- 2.51%
- YTD
- 30.01%
- 6M
- 31.47%
- 1Y
- 36.35%
- 3Y*
- 28.99%
- 5Y*
- 22.23%
- 10Y*
- 5.97%
ARRY vs. PAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ARRY Array Technologies, Inc. | -15.73% | 52.65% | -64.05% | -13.09% | 23.20% | -63.63% | 46.24% |
PAA Plains All American Pipeline, L.P. | 30.01% | 14.30% | 21.38% | 39.18% | 35.79% | 22.24% | 24.89% |
Correlation
The correlation between ARRY and PAA is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2020 | 0.17 |
The correlation between ARRY and PAA shifts across timeframes, from -0.03 (1 year) to 0.19 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
ARRY:
$1.19B
PAA:
$15.84B
ARRY:
-$0.44
PAA:
$2.19
ARRY:
0.99
PAA:
0.35
ARRY:
$1.21B
PAA:
$45.25B
ARRY:
$269.92M
PAA:
$1.55B
ARRY:
$5.35M
PAA:
$2.54B
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Return for Risk
ARRY vs. PAA — Risk / Return Rank
ARRY
PAA
ARRY vs. PAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Array Technologies, Inc. (ARRY) and Plains All American Pipeline, L.P. (PAA). 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.
| ARRY | PAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.92 | ||
| Sortino ratioReturn per unit of downside risk | -2.05 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.33 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | 2.51 | -2.41 |
| Martin ratioReturn relative to average drawdown | 0.20 | 7.17 | -6.97 |
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Drawdowns
ARRY vs. PAA - Drawdown Comparison
The maximum ARRY drawdown since its inception was -92.20%, roughly equal to the maximum PAA drawdown of -91.99%. Use the drawdown chart below to compare losses from any high point for ARRY and PAA.
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Drawdown Indicators
| ARRY | PAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.20% | -91.99% | -0.21% |
Max Drawdown (1Y)Largest decline over 1 year | -44.31% | -14.53% | -29.78% |
Max Drawdown (3Y)Largest decline over 3 years | -84.88% | -22.26% | -62.62% |
Max Drawdown (5Y)Largest decline over 5 years | -85.31% | -26.11% | -59.20% |
Max Drawdown (10Y)Largest decline over 10 years | — | -87.92% | — |
Current DrawdownCurrent decline from peak | -84.78% | -10.03% | -74.75% |
Average DrawdownAverage peak-to-trough decline | -68.90% | -25.75% | -43.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.24% | 5.08% | +18.16% |
Volatility
ARRY vs. PAA - Volatility Comparison
Array Technologies, Inc. (ARRY) has a higher volatility of 24.08% compared to Plains All American Pipeline, L.P. (PAA) at 7.32%. This indicates that ARRY's price experiences larger fluctuations and is considered to be riskier than PAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARRY | PAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.08% | 7.32% | +16.76% |
Volatility (6M)Calculated over the trailing 6-month period | 63.54% | 14.09% | +49.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 85.05% | 18.47% | +66.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.61% | 26.81% | +54.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.77% | 41.82% | +40.95% |
Dividends
ARRY vs. PAA - Dividend Comparison
ARRY has not paid dividends to shareholders, while PAA's dividend yield for the trailing twelve months is around 7.11%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARRY Array Technologies, 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% |
PAA Plains All American Pipeline, L.P. | 7.11% | 8.46% | 7.44% | 7.06% | 7.08% | 7.71% | 10.92% | 7.50% | 5.99% | 9.45% | 8.21% | 11.93% |
Financials
ARRY vs. PAA - Financials Comparison
This section allows you to compare key financial metrics between Array Technologies, Inc. and Plains All American Pipeline, L.P.. 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
ARRY vs. PAA - Profitability Comparison
ARRY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Array Technologies, Inc. reported a gross profit of 63.00M and revenue of 223.41M. Therefore, the gross margin over that period was 28.2%.
PAA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Plains All American Pipeline, L.P. reported a gross profit of 0.00 and revenue of 12.47B. Therefore, the gross margin over that period was 0.0%.
ARRY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Array Technologies, Inc. reported an operating income of 7.11M and revenue of 223.41M, resulting in an operating margin of 3.2%.
PAA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Plains All American Pipeline, L.P. reported an operating income of 405.00M and revenue of 12.47B, resulting in an operating margin of 3.3%.
ARRY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Array Technologies, Inc. reported a net income of 2.00M and revenue of 223.41M, resulting in a net margin of 0.9%.
PAA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Plains All American Pipeline, L.P. reported a net income of 551.00M and revenue of 12.47B, resulting in a net margin of 4.4%.
Frequently Asked Questions
ARRY and PAA have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ARRY has higher volatility (24.08%) compared to PAA (7.32%). In terms of maximum drawdown, ARRY dropped -92.20% vs PAA's -91.99%.
PAA currently has the higher Sharpe Ratio (1.98 vs 0.05), 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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