CBL vs. LQDA
CBL (CBL & Associates Properties, Inc.) and LQDA (Liquidia Corporation) are both stocks. Over the past 3 years, CBL returned 43.20%/yr vs 103.23%/yr for LQDA. At a 0.15 correlation, their price movements are largely independent.
Performance
CBL vs. LQDA - Performance Comparison
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Returns By Period
In the year-to-date period, CBL achieves a 41.83% return, which is significantly lower than LQDA's 119.02% return.
CBL
- 1D
- 1.80%
- 1M
- 9.33%
- YTD
- 41.83%
- 6M
- 41.44%
- 1Y
- 108.59%
- 3Y*
- 43.20%
- 5Y*
- —
- 10Y*
- —
LQDA
- 1D
- 2.03%
- 1M
- 23.88%
- YTD
- 119.02%
- 6M
- 111.06%
- 1Y
- 448.19%
- 3Y*
- 103.23%
- 5Y*
- 91.80%
- 10Y*
- —
CBL vs. LQDA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CBL CBL & Associates Properties, Inc. | 41.83% | 37.21% | 28.52% | 12.96% | -17.96% | 18.86% |
LQDA Liquidia Corporation | 119.02% | 193.28% | -2.24% | 88.85% | 30.80% | 27.49% |
Correlation
The correlation between CBL and LQDA is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2021 | 0.15 |
Fundamentals
CBL:
$1.56B
LQDA:
$7.64B
CBL:
$5.57
LQDA:
$0.24
CBL:
9.15
LQDA:
315.88
CBL:
2.71
LQDA:
24.46
CBL:
3.93
LQDA:
70.35
CBL:
$582.57M
LQDA:
$288.07M
CBL:
$139.43M
LQDA:
$275.77M
CBL:
$413.31M
LQDA:
$51.53M
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Return for Risk
CBL vs. LQDA — Risk / Return Rank
CBL
LQDA
CBL vs. LQDA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CBL & Associates Properties, Inc. (CBL) and Liquidia Corporation (LQDA). 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.
| CBL | LQDA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.82 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.65 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 8.82 | 12.67 | -3.85 |
| Martin ratioReturn relative to average drawdown | 29.68 | 32.83 | -3.15 |
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Drawdowns
CBL vs. LQDA - Drawdown Comparison
The maximum CBL drawdown since its inception was -34.02%, smaller than the maximum LQDA drawdown of -93.87%. Use the drawdown chart below to compare losses from any high point for CBL and LQDA.
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Drawdown Indicators
| CBL | LQDA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.02% | -93.87% | +59.85% |
Max Drawdown (1Y)Largest decline over 1 year | -12.31% | -35.66% | +23.35% |
Max Drawdown (3Y)Largest decline over 3 years | -29.14% | -46.80% | +17.66% |
Max Drawdown (5Y)Largest decline over 5 years | — | -55.36% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -12.35% | -69.29% | +56.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.66% | 13.76% | -10.10% |
Volatility
CBL vs. LQDA - Volatility Comparison
The current volatility for CBL & Associates Properties, Inc. (CBL) is 8.40%, while Liquidia Corporation (LQDA) has a volatility of 20.06%. This indicates that CBL experiences smaller price fluctuations and is considered to be less risky than LQDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBL | LQDA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.40% | 20.06% | -11.66% |
Volatility (6M)Calculated over the trailing 6-month period | 20.18% | 48.91% | -28.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.09% | 66.21% | -39.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.34% | 73.77% | -41.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.34% | 85.71% | -53.37% |
Dividends
CBL vs. LQDA - Dividend Comparison
CBL's dividend yield for the trailing twelve months is around 4.22%, while LQDA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CBL CBL & Associates Properties, Inc. | 4.22% | 6.76% | 5.44% | 6.14% | 12.78% |
LQDA Liquidia Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
CBL vs. LQDA - Financials Comparison
This section allows you to compare key financial metrics between CBL & Associates Properties, Inc. and Liquidia Corporation. 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
CBL vs. LQDA - Profitability Comparison
CBL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, CBL & Associates Properties, Inc. reported a gross profit of 91.34M and revenue of 145.97M. Therefore, the gross margin over that period was 62.6%.
LQDA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Liquidia Corporation reported a gross profit of 132.09M and revenue of 132.87M. Therefore, the gross margin over that period was 99.4%.
CBL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, CBL & Associates Properties, Inc. reported an operating income of 72.75M and revenue of 145.97M, resulting in an operating margin of 49.8%.
LQDA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Liquidia Corporation reported an operating income of 61.50M and revenue of 132.87M, resulting in an operating margin of 46.3%.
CBL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, CBL & Associates Properties, Inc. reported a net income of 45.40M and revenue of 145.97M, resulting in a net margin of 31.1%.
LQDA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Liquidia Corporation reported a net income of 52.86M and revenue of 132.87M, resulting in a net margin of 39.8%.
Frequently Asked Questions
CBL and LQDA have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LQDA has higher volatility (20.06%) compared to CBL (8.40%). In terms of maximum drawdown, CBL dropped -34.02% vs LQDA's -93.87%.
LQDA currently has the higher Sharpe Ratio (6.83 vs 4.01), 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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