AZTA vs. CWAN

Last updated Jun 23, 2026

AZTA (Azenta, Inc.) and CWAN (Clearwater Analytics Holdings, Inc.) are both stocks. AZTA operates in Medical Instruments & Supplies (Healthcare), while CWAN operates in Software - Application (Technology). Over the past 3 years, AZTA returned -20.11%/yr vs 15.87%/yr for CWAN. At a 0.28 correlation, their price movements are largely independent.

Performance

AZTA vs. CWAN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Azenta, Inc. (AZTA) and Clearwater Analytics Holdings, Inc. (CWAN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AZTA achieves a -33.04% return, which is significantly lower than CWAN's 1.70% return.

AZTA

• 1D: -4.46%
• 1M: 10.36%
• YTD: -33.04%
• 6M: -35.80%
• 1Y: -24.87%
• 3Y*: -20.11%
• 5Y*: -24.80%
• 10Y*: 7.67%

CWAN

• 1D: 0.99%
• 1M: 0.86%
• YTD: 1.70%
• 6M: 1.95%
• 1Y: 15.33%
• 3Y*: 15.87%
• 5Y*: —
• 10Y*: —

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

AZTA vs. CWAN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AZTA Azenta, Inc.	-33.04%	-33.48%	-23.24%	11.89%	-43.54%	-4.58%
CWAN Clearwater Analytics Holdings, Inc.	1.70%	-12.35%	37.39%	6.83%	-18.41%	-3.24%

Correlation

The correlation between AZTA and CWAN is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (All Time) Calculated using the full available price history since Sep 24, 2021	0.28

Fundamentals

Market Cap AZTA : $1.03B CWAN : $7.24B
EPS AZTA : -$3.88 CWAN : -$0.17
PS Ratio AZTA : 1.71 CWAN : 8.48
PB Ratio AZTA : 0.66 CWAN : 3.53
Total Revenue (TTM) AZTA : $596.57M CWAN : $825.73M
Gross Profit (TTM) AZTA : $265.78M CWAN : $544.75M
EBITDA (TTM) AZTA : -$106.54M CWAN : $95.23M

Return for Risk

AZTA vs. CWAN — Risk / Return Rank

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

AZTA

AZTA Risk / Return Rank: 26
AZTA Sharpe Ratio Rank: 25
AZTA Sortino Ratio Rank: 28
AZTA Omega Ratio Rank: 27
AZTA Calmar Ratio Rank: 28
AZTA Martin Ratio Rank: 24

CWAN

CWAN Risk / Return Rank: 57
CWAN Sharpe Ratio Rank: 59
CWAN Sortino Ratio Rank: 54
CWAN Omega Ratio Rank: 59
CWAN Calmar Ratio Rank: 55
CWAN Martin Ratio Rank: 59

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.

AZTA vs. CWAN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Azenta, Inc. (AZTA) and Clearwater Analytics Holdings, Inc. (CWAN). 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.

	AZTA	CWAN	Difference
Sharpe ratio: Return per unit of total volatility	-0.40	0.51	-0.90
Sortino ratio: Return per unit of downside risk	-0.16	0.94	-1.10
Omega ratio: Gain probability vs. loss probability	0.98	1.15	-0.17
Calmar ratio: Return relative to maximum drawdown	-0.41	0.52	-0.93
Martin ratio: Return relative to average drawdown	-0.89	1.60	-2.49

AZTA vs. CWAN - Sharpe Ratio Comparison

The current AZTA Sharpe Ratio is -0.40, which is lower than the CWAN Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of AZTA and CWAN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AZTA vs. CWAN - Drawdown Comparison

The maximum AZTA drawdown since its inception was -97.12%, which is greater than CWAN's maximum drawdown of -54.15%. Use the drawdown chart below to compare losses from any high point for AZTA and CWAN.

Drawdown Indicators

	AZTA	CWAN	Difference
Max Drawdown Largest peak-to-trough decline	-97.12%	-54.15%	-42.97%
Max Drawdown (1Y) Largest decline over 1 year	-60.94%	-29.60%	-31.34%
Max Drawdown (3Y) Largest decline over 3 years	-76.27%	-51.54%	-24.73%
Max Drawdown (5Y) Largest decline over 5 years	-87.08%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-87.08%	—	—
Current Drawdown Current decline from peak	-82.05%	-25.19%	-56.86%
Average Drawdown Average peak-to-trough decline	-65.40%	-28.69%	-36.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.97%	9.61%	+18.36%

Volatility

AZTA vs. CWAN - Volatility Comparison

Azenta, Inc. (AZTA) has a higher volatility of 11.92% compared to Clearwater Analytics Holdings, Inc. (CWAN) at 1.28%. This indicates that AZTA's price experiences larger fluctuations and is considered to be riskier than CWAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AZTA	CWAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.92%	1.28%	+10.64%
Volatility (6M) Calculated over the trailing 6-month period	52.19%	9.32%	+42.87%
Volatility (1Y) Calculated over the trailing 1-year period	62.98%	30.43%	+32.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.78%	39.77%	+12.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.48%	39.77%	+11.71%

Dividends

AZTA vs. CWAN - Dividend Comparison

Neither AZTA nor CWAN has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AZTA Azenta, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.39%	0.59%	0.95%	1.53%	1.68%	2.34%	3.75%
CWAN Clearwater Analytics Holdings, 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%

Financials

Frequently Asked Questions

Can I hold both AZTA and CWAN in my portfolio?

AZTA and CWAN have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AZTA or CWAN?

AZTA has higher volatility (11.92%) compared to CWAN (1.28%). In terms of maximum drawdown, AZTA dropped -97.12% vs CWAN's -54.15%.

Which has better risk-adjusted returns?

CWAN currently has the higher Sharpe Ratio (0.51 vs -0.40), 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.