CIFRW vs. APLD

Last updated Apr 1, 2026

Compare and contrast key facts about Cipher Mining Inc (CIFRW) and Applied Digital Corporation (APLD).

Performance

CIFRW vs. APLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cipher Mining Inc (CIFRW) and Applied Digital Corporation (APLD). The values are adjusted to include any dividend payments, if applicable.

CIFRW vs. APLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
CIFRW Cipher Mining Inc	0.00%	202.27%	-21.79%	2,778.54%	-94.68%	7.10%	44.52%
APLD Applied Digital Corporation	-3.18%	220.94%	13.35%	266.30%	-92.68%	11,789.90%	10.12%

Fundamentals

Market Cap CIFRW : $1.56B APLD : $6.33B
EPS CIFRW : -$2.18 APLD : -$0.51
PS Ratio CIFRW : 6.02 APLD : 20.33
PB Ratio CIFRW : 1.87 APLD : 4.37
Total Revenue (TTM) CIFRW : $256.76M APLD : $281.74M
Gross Profit (TTM) CIFRW : $101.17M APLD : $46.19M
EBITDA (TTM) CIFRW : -$572.32M APLD : -$49.02M

Returns By Period

CIFRW

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: -18.20%
• 1Y: 1,139.39%
• 3Y*: 129.15%
• 5Y*: 18.37%
• 10Y*: —

APLD

• 1D: 15.55%
• 1M: -12.94%
• YTD: -3.18%
• 6M: 3.49%
• 1Y: 322.42%
• 3Y*: 119.66%
• 5Y*: 76.65%
• 10Y*: 75.92%

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

Return for Risk

CIFRW vs. APLD — Risk / Return Rank

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

CIFRW

CIFRW Risk / Return Rank: 87
CIFRW Sharpe Ratio Rank: 100
CIFRW Sortino Ratio Rank: 98
CIFRW Omega Ratio Rank: 96
CIFRW Calmar Ratio Rank: 74
CIFRW Martin Ratio Rank: 65

APLD

APLD Risk / Return Rank: 94
APLD Sharpe Ratio Rank: 95
APLD Sortino Ratio Rank: 93
APLD Omega Ratio Rank: 90
APLD Calmar Ratio Rank: 96
APLD Martin Ratio Rank: 94

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.

CIFRW vs. APLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cipher Mining Inc (CIFRW) and Applied Digital Corporation (APLD). 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.

	CIFRW	APLD	Difference
Sharpe ratio Return per unit of total volatility	8.61	2.57	+6.03
Sortino ratio Return per unit of downside risk	4.35	3.14	+1.21
Omega ratio Gain probability vs. loss probability	1.55	1.39	+0.16
Calmar ratio Return relative to maximum drawdown	1.71	6.26	-4.55
Martin ratio Return relative to average drawdown	2.59	14.46	-11.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CIFRW vs. APLD - Sharpe Ratio Comparison

The current CIFRW Sharpe Ratio is 8.61, which is higher than the APLD Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of CIFRW and APLD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CIFRW	APLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	8.61	2.57	+6.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	0.41	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.33	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.04	+0.18

Correlation

The correlation between CIFRW and APLD is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CIFRW vs. APLD - Dividend Comparison

Neither CIFRW nor APLD has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

CIFRW vs. APLD - Drawdown Comparison

The maximum CIFRW drawdown since its inception was -98.68%, roughly equal to the maximum APLD drawdown of -99.70%. Use the drawdown chart below to compare losses from any high point for CIFRW and APLD.

Drawdown Indicators

	CIFRW	APLD	Difference
Max Drawdown Largest peak-to-trough decline	-98.68%	-99.70%	+1.02%
Max Drawdown (1Y) Largest decline over 1 year	-71.70%	-50.31%	-21.39%
Max Drawdown (5Y) Largest decline over 5 years	-98.57%	-97.10%	-1.47%
Max Drawdown (10Y) Largest decline over 10 years	—	-97.10%	—
Current Drawdown Current decline from peak	-69.86%	-42.59%	-27.27%
Average Drawdown Average peak-to-trough decline	-64.55%	-84.03%	+19.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	55.93%	21.79%	+34.14%

Volatility

CIFRW vs. APLD - Volatility Comparison

The current volatility for Cipher Mining Inc (CIFRW) is 0.00%, while Applied Digital Corporation (APLD) has a volatility of 32.29%. This indicates that CIFRW experiences smaller price fluctuations and is considered to be less risky than APLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CIFRW	APLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	32.29%	-32.29%
Volatility (6M) Calculated over the trailing 6-month period	132.57%	77.82%	+54.75%
Volatility (1Y) Calculated over the trailing 1-year period	193.36%	126.27%	+67.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	180.61%	187.90%	-7.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	184.41%	295.81%	-111.40%

Financials