AVDX vs. LMND

Last updated Jun 9, 2026

AVDX (AvidXchange Holdings, Inc.) and LMND (Lemonade, Inc.) are both stocks. AVDX operates in Software - Infrastructure (Technology), while LMND operates in Insurance - Property & Casualty (Financial Services). At a 0.44 correlation, their price movements are largely independent.

Performance

AVDX vs. LMND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AvidXchange Holdings, Inc. (AVDX) and Lemonade, Inc. (LMND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AVDX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

LMND

• 1D: 2.93%
• 1M: -3.71%
• YTD: -25.58%
• 6M: -31.36%
• 1Y: 32.82%
• 3Y*: 39.72%
• 5Y*: -12.81%
• 10Y*: —

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

AVDX vs. LMND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVDX AvidXchange Holdings, Inc.	0.00%	-3.29%	-16.55%	24.65%	-34.00%	-39.62%
LMND Lemonade, Inc.	-25.58%	94.06%	127.40%	17.91%	-67.51%	-36.07%

Correlation

The correlation between AVDX and LMND is 0.10, 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	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (All Time) Calculated using the full available price history since Oct 14, 2021	0.44

Over the past year, the correlation between AVDX and LMND has dropped to 0.10 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.

Fundamentals

Market Cap AVDX : $2.07B LMND : $4.04B
EPS AVDX : -$0.04 LMND : -$1.88
PS Ratio AVDX : 4.63 LMND : 4.77
PB Ratio AVDX : 3.01 LMND : 7.80
Total Revenue (TTM) AVDX : $446.72M LMND : $821.10M
Gross Profit (TTM) AVDX : $323.96M LMND : $390.70M
EBITDA (TTM) AVDX : $36.84M LMND : -$120.70M

Return for Risk

AVDX vs. LMND — Risk / Return Rank

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

LMND

LMND Risk / Return Rank: 58
LMND Sharpe Ratio Rank: 56
LMND Sortino Ratio Rank: 61
LMND Omega Ratio Rank: 58
LMND Calmar Ratio Rank: 57
LMND Martin Ratio Rank: 56

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.

AVDX vs. LMND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AvidXchange Holdings, Inc. (AVDX) and Lemonade, Inc. (LMND). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AVDX	LMND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.39	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	-0.05	—

Drawdowns

Drawdown Indicators

	AVDX	LMND	Difference
Max Drawdown Largest peak-to-trough decline	—	-94.23%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-47.70%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-56.10%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-90.63%	—
Current Drawdown Current decline from peak	—	-71.10%	—
Average Drawdown Average peak-to-trough decline	—	-73.08%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	24.07%	—

Volatility

Volatility by Period

	AVDX	LMND	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	15.80%	—
Volatility (6M) Calculated over the trailing 6-month period	—	53.71%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	84.63%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	82.25%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	85.17%	—

Dividends

AVDX vs. LMND - Dividend Comparison

Neither AVDX nor LMND has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

AVDX vs. LMND - Profitability Comparison

The chart below illustrates the profitability comparison between AvidXchange Holdings, Inc. and Lemonade, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AVDX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, AvidXchange Holdings, Inc. reported a gross profit of 79.62M and revenue of 110.57M. Therefore, the gross margin over that period was 72.0%.

LMND - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Lemonade, Inc. reported a gross profit of 101.10M and revenue of 234.40M. Therefore, the gross margin over that period was 43.1%.

AVDX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, AvidXchange Holdings, Inc. reported an operating income of -12.41M and revenue of 110.57M, resulting in an operating margin of -11.2%.

LMND - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Lemonade, Inc. reported an operating income of -34.60M and revenue of 234.40M, resulting in an operating margin of -14.8%.

AVDX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, AvidXchange Holdings, Inc. reported a net income of -9.46M and revenue of 110.57M, resulting in a net margin of -8.6%.

LMND - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Lemonade, Inc. reported a net income of -35.80M and revenue of 234.40M, resulting in a net margin of -15.3%.

Frequently Asked Questions

Can I hold both AVDX and LMND in my portfolio?

AVDX and LMND have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.