AVDX vs. SHOP

Last updated Jun 9, 2026

AVDX (AvidXchange Holdings, Inc.) and SHOP (Shopify Inc.) are both stocks. Both are in the Technology sector — AVDX in Software - Infrastructure, SHOP in Software - Application. At a 0.43 correlation, their price movements are largely independent.

Performance

AVDX vs. SHOP - Performance Comparison

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

Returns By Period

AVDX

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

SHOP

• 1D: 1.13%
• 1M: 0.34%
• YTD: -31.18%
• 6M: -30.07%
• 1Y: -0.57%
• 3Y*: 21.77%
• 5Y*: -1.84%
• 10Y*: 44.31%

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

AVDX vs. SHOP - 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%
SHOP Shopify Inc.	-31.18%	51.39%	36.50%	124.43%	-74.80%	-1.54%

Correlation

The correlation between AVDX and SHOP is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (All Time) Calculated using the full available price history since Oct 14, 2021	0.43

Over the past year, the correlation between AVDX and SHOP has dropped to 0.18 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.

Fundamentals

Market Cap AVDX : $2.07B SHOP : $144.39B
EPS AVDX : -$0.04 SHOP : $1.02
PS Ratio AVDX : 4.63 SHOP : 15.75
PB Ratio AVDX : 3.01 SHOP : 11.55
Total Revenue (TTM) AVDX : $446.72M SHOP : $9.20B
Gross Profit (TTM) AVDX : $323.96M SHOP : $5.93B
EBITDA (TTM) AVDX : $36.84M SHOP : $1.60B

Return for Risk

AVDX vs. SHOP — Risk / Return Rank

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

SHOP

SHOP Risk / Return Rank: 41
SHOP Sharpe Ratio Rank: 42
SHOP Sortino Ratio Rank: 40
SHOP Omega Ratio Rank: 40
SHOP Calmar Ratio Rank: 42
SHOP Martin Ratio Rank: 41

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. SHOP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AvidXchange Holdings, Inc. (AVDX) and Shopify Inc. (SHOP). 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	SHOP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.01	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.03	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.69	—

Drawdowns

Drawdown Indicators

	AVDX	SHOP	Difference
Max Drawdown Largest peak-to-trough decline	—	-84.82%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-46.71%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-46.71%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-84.82%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-84.82%	—
Current Drawdown Current decline from peak	—	-38.12%	—
Average Drawdown Average peak-to-trough decline	—	-28.22%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	21.74%	—

Volatility

Volatility by Period

	AVDX	SHOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	17.86%	—
Volatility (6M) Calculated over the trailing 6-month period	—	43.67%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	57.27%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	65.57%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	59.09%	—

Dividends

AVDX vs. SHOP - Dividend Comparison

Neither AVDX nor SHOP has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both AVDX and SHOP in my portfolio?

AVDX and SHOP have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.