CRWD vs. PANW
CRWD (CrowdStrike Holdings, Inc.) and PANW (Palo Alto Networks, Inc.) are both stocks. Both operate in the Software - Infrastructure industry within the Technology sector. Over the past 5 years, CRWD returned 21.71%/yr vs 36.07%/yr for PANW. A 0.61 correlation means they provide meaningful diversification when combined.
Performance
CRWD vs. PANW - Performance Comparison
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Returns By Period
In the year-to-date period, CRWD achieves a 44.09% return, which is significantly lower than PANW's 55.48% return.
CRWD
- 1D
- -1.38%
- 1M
- 1.81%
- YTD
- 44.09%
- 6M
- 39.80%
- 1Y
- 41.81%
- 3Y*
- 67.53%
- 5Y*
- 21.71%
- 10Y*
- —
PANW
- 1D
- -0.48%
- 1M
- 9.91%
- YTD
- 55.48%
- 6M
- 51.14%
- 1Y
- 43.75%
- 3Y*
- 32.91%
- 5Y*
- 36.07%
- 10Y*
- 30.30%
CRWD vs. PANW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CRWD CrowdStrike Holdings, Inc. | 44.09% | 37.00% | 34.01% | 142.49% | -48.58% | -3.34% | 324.74% | -21.46% |
PANW Palo Alto Networks, Inc. | 55.48% | 1.23% | 23.41% | 111.32% | -24.81% | 56.66% | 53.68% | 15.17% |
Correlation
The correlation between CRWD and PANW is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2019 | 0.61 |
The correlation between CRWD and PANW shifts across timeframes, from 0.61 (all time) to 0.76 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
CRWD:
$174.18B
PANW:
$213.08B
CRWD:
-$0.02
PANW:
$1.17
CRWD:
33.72
PANW:
19.41
CRWD:
37.59
PANW:
7.70
CRWD:
$5.09B
PANW:
$10.61B
CRWD:
$3.82B
PANW:
$7.63B
CRWD:
$246.78M
PANW:
$1.33B
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Return for Risk
CRWD vs. PANW — Risk / Return Rank
CRWD
PANW
CRWD vs. PANW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CrowdStrike Holdings, Inc. (CRWD) and Palo Alto Networks, Inc. (PANW). 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.
| CRWD | PANW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.21 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 1.22 | -0.09 |
| Martin ratioReturn relative to average drawdown | 2.56 | 2.76 | -0.20 |
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Drawdowns
CRWD vs. PANW - Drawdown Comparison
The maximum CRWD drawdown since its inception was -67.69%, which is greater than PANW's maximum drawdown of -47.98%. Use the drawdown chart below to compare losses from any high point for CRWD and PANW.
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Drawdown Indicators
| CRWD | PANW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.69% | -47.98% | -19.71% |
Max Drawdown (1Y)Largest decline over 1 year | -37.18% | -36.01% | -1.17% |
Max Drawdown (3Y)Largest decline over 3 years | -44.44% | -36.01% | -8.43% |
Max Drawdown (5Y)Largest decline over 5 years | -67.69% | -36.01% | -31.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.98% | — |
Current DrawdownCurrent decline from peak | -13.65% | -4.69% | -8.96% |
Average DrawdownAverage peak-to-trough decline | -23.58% | -14.67% | -8.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.39% | 15.89% | +0.50% |
Volatility
CRWD vs. PANW - Volatility Comparison
CrowdStrike Holdings, Inc. (CRWD) has a higher volatility of 17.48% compared to Palo Alto Networks, Inc. (PANW) at 16.22%. This indicates that CRWD's price experiences larger fluctuations and is considered to be riskier than PANW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CRWD | PANW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.48% | 16.22% | +1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 37.26% | 32.17% | +5.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.51% | 39.05% | +6.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.65% | 41.75% | +8.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.01% | 38.64% | +17.37% |
Dividends
CRWD vs. PANW - Dividend Comparison
Neither CRWD nor PANW has paid dividends to shareholders.
Financials
CRWD vs. PANW - Financials Comparison
This section allows you to compare key financial metrics between CrowdStrike Holdings, Inc. and Palo Alto Networks, Inc.. 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
CRWD vs. PANW - Profitability Comparison
CRWD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, CrowdStrike Holdings, Inc. reported a gross profit of 1.04B and revenue of 1.39B. Therefore, the gross margin over that period was 75.3%.
PANW - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Palo Alto Networks, Inc. reported a gross profit of 2.03B and revenue of 3.00B. Therefore, the gross margin over that period was 67.6%.
CRWD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, CrowdStrike Holdings, Inc. reported an operating income of -30.60M and revenue of 1.39B, resulting in an operating margin of -2.2%.
PANW - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Palo Alto Networks, Inc. reported an operating income of -186.00M and revenue of 3.00B, resulting in an operating margin of -6.2%.
CRWD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, CrowdStrike Holdings, Inc. reported a net income of 45.97M and revenue of 1.39B, resulting in a net margin of 3.3%.
PANW - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Palo Alto Networks, Inc. reported a net income of -177.00M and revenue of 3.00B, resulting in a net margin of -5.9%.
Frequently Asked Questions
CRWD and PANW have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CRWD has higher volatility (17.48%) compared to PANW (16.22%). In terms of maximum drawdown, CRWD dropped -67.69% vs PANW's -47.98%.
PANW currently has the higher Sharpe Ratio (1.13 vs 0.92), 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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