AXON vs. SOUN

Last updated Jun 9, 2026

AXON (Axon Enterprise, Inc.) and SOUN (SoundHound AI, Inc.) are both stocks. AXON operates in Aerospace & Defense (Industrials), while SOUN operates in Software - Application (Technology). Over the past 3 years, AXON returned 34.22%/yr vs 35.66%/yr for SOUN. At a 0.31 correlation, their price movements are largely independent.

Performance

AXON vs. SOUN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Axon Enterprise, Inc. (AXON) and SoundHound AI, Inc. (SOUN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AXON achieves a -17.06% return, which is significantly higher than SOUN's -24.87% return.

AXON

• 1D: -3.10%
• 1M: 16.73%
• YTD: -17.06%
• 6M: -14.84%
• 1Y: -40.51%
• 3Y*: 34.22%
• 5Y*: 26.05%
• 10Y*: 35.39%

SOUN

• 1D: 1.35%
• 1M: -15.65%
• YTD: -24.87%
• 6M: -40.93%
• 1Y: -25.91%
• 3Y*: 35.66%
• 5Y*: —
• 10Y*: —

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

AXON vs. SOUN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AXON Axon Enterprise, Inc.	-17.06%	-4.44%	130.06%	55.69%	42.97%
SOUN SoundHound AI, Inc.	-24.87%	-49.75%	835.85%	19.77%	-76.40%

Correlation

The correlation between AXON and SOUN is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (All Time) Calculated using the full available price history since Apr 29, 2022	0.31

Fundamentals

Market Cap AXON : $38.85B SOUN : $2.54B
EPS AXON : $2.41 SOUN : -$0.43
PS Ratio AXON : 13.54 SOUN : 15.98
PB Ratio AXON : 10.99 SOUN : 5.50
Total Revenue (TTM) AXON : $2.98B SOUN : $183.99M
Gross Profit (TTM) AXON : $1.77B SOUN : $69.84M
EBITDA (TTM) AXON : $156.24M SOUN : -$124.47M

Return for Risk

AXON vs. SOUN — Risk / Return Rank

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

AXON

AXON Risk / Return Rank: 14
AXON Sharpe Ratio Rank: 11
AXON Sortino Ratio Rank: 13
AXON Omega Ratio Rank: 13
AXON Calmar Ratio Rank: 17
AXON Martin Ratio Rank: 16

SOUN

SOUN Risk / Return Rank: 31
SOUN Sharpe Ratio Rank: 28
SOUN Sortino Ratio Rank: 32
SOUN Omega Ratio Rank: 31
SOUN Calmar Ratio Rank: 30
SOUN Martin Ratio Rank: 31

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.

AXON vs. SOUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Axon Enterprise, Inc. (AXON) and SoundHound AI, Inc. (SOUN). 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.

	AXON	SOUN	Difference
Sharpe ratio: Return per unit of total volatility	-0.73	-0.32	-0.41
Sortino ratio: Return per unit of downside risk	-0.93	0.02	-0.95
Omega ratio: Gain probability vs. loss probability	0.88	1.00	-0.12
Calmar ratio: Return relative to maximum drawdown	-0.67	-0.36	-0.32
Martin ratio: Return relative to average drawdown	-1.17	-0.58	-0.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AXON vs. SOUN - Sharpe Ratio Comparison

The current AXON Sharpe Ratio is -0.73, which is lower than the SOUN Sharpe Ratio of -0.32. The chart below compares the historical Sharpe Ratios of AXON and SOUN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AXON	SOUN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.73	-0.32	-0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	-0.00	+0.51

Drawdowns

AXON vs. SOUN - Drawdown Comparison

The maximum AXON drawdown since its inception was -91.78%, roughly equal to the maximum SOUN drawdown of -93.55%. Use the drawdown chart below to compare losses from any high point for AXON and SOUN.

Drawdown Indicators

	AXON	SOUN	Difference
Max Drawdown Largest peak-to-trough decline	-91.78%	-93.55%	+1.77%
Max Drawdown (1Y) Largest decline over 1 year	-60.28%	-72.43%	+12.15%
Max Drawdown (3Y) Largest decline over 3 years	-60.28%	-75.65%	+15.37%
Max Drawdown (5Y) Largest decline over 5 years	-60.28%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-60.28%	—	—
Current Drawdown Current decline from peak	-45.92%	-69.09%	+23.17%
Average Drawdown Average peak-to-trough decline	-43.59%	-66.95%	+23.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.81%	44.50%	-9.69%

Volatility

AXON vs. SOUN - Volatility Comparison

Axon Enterprise, Inc. (AXON) and SoundHound AI, Inc. (SOUN) have volatilities of 19.02% and 19.06%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AXON	SOUN	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.02%	19.06%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	44.22%	51.57%	-7.35%
Volatility (1Y) Calculated over the trailing 1-year period	55.73%	80.46%	-24.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.97%	136.34%	-88.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.19%	136.34%	-87.15%

Dividends

AXON vs. SOUN - Dividend Comparison

Neither AXON nor SOUN has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both AXON and SOUN in my portfolio?

AXON and SOUN have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AXON or SOUN?

SOUN has higher volatility (19.06%) compared to AXON (19.02%). In terms of maximum drawdown, AXON dropped -91.78% vs SOUN's -93.55%.

Which has better risk-adjusted returns?

SOUN currently has the higher Sharpe Ratio (-0.32 vs -0.73), 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.