CRWV vs. APLD
CRWV (CoreWeave, Inc.) and APLD (Applied Digital Corporation) are both stocks. Both are in the Technology sector — CRWV in Software - Infrastructure, APLD in Information Technology Services. Over the past year, CRWV returned -39.38% vs 337.56% for APLD. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
CRWV vs. APLD - Performance Comparison
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Returns By Period
In the year-to-date period, CRWV achieves a 55.41% return, which is significantly lower than APLD's 84.34% return.
CRWV
- 1D
- -5.65%
- 1M
- 5.50%
- YTD
- 55.41%
- 6M
- 31.19%
- 1Y
- -39.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
APLD
- 1D
- -2.98%
- 1M
- -1.46%
- YTD
- 84.34%
- 6M
- 62.71%
- 1Y
- 337.56%
- 3Y*
- 77.44%
- 5Y*
- 105.95%
- 10Y*
- 127.82%
CRWV vs. APLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CRWV CoreWeave, Inc. | 55.41% | 83.62% |
APLD Applied Digital Corporation | 84.34% | 301.97% |
Correlation
The correlation between CRWV and APLD is 0.56, 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 | 0.56 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2025 | 0.54 |
The correlation between CRWV and APLD has been stable across timeframes, ranging from 0.54 to 0.56 - a consistent structural relationship.
Fundamentals
CRWV:
$58.65B
APLD:
$12.28B
CRWV:
-$3.27
APLD:
-$0.72
CRWV:
8.70
APLD:
30.64
CRWV:
12.32
APLD:
7.80
CRWV:
$6.23B
APLD:
$390.57M
CRWV:
$4.32B
APLD:
$124.93M
CRWV:
$1.89B
APLD:
-$154.66M
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Return for Risk
CRWV vs. APLD — Risk / Return Rank
CRWV
APLD
CRWV vs. APLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CoreWeave, Inc. (CRWV) 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.
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.
| CRWV | APLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.61 | ||
| Sortino ratioReturn per unit of downside risk | -3.48 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.39 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | 6.76 | -7.39 |
| Martin ratioReturn relative to average drawdown | -0.95 | 16.62 | -17.57 |
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Drawdowns
CRWV vs. APLD - Drawdown Comparison
The maximum CRWV drawdown since its inception was -64.84%, smaller than the maximum APLD drawdown of -99.73%. Use the drawdown chart below to compare losses from any high point for CRWV and APLD.
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Drawdown Indicators
| CRWV | APLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.84% | -99.73% | +34.89% |
Max Drawdown (1Y)Largest decline over 1 year | -62.83% | -50.31% | -12.52% |
Max Drawdown (3Y)Largest decline over 3 years | — | -76.66% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -82.61% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.80% | — |
Current DrawdownCurrent decline from peak | -39.38% | -8.96% | -30.42% |
Average DrawdownAverage peak-to-trough decline | -37.23% | -74.78% | +37.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.45% | 20.43% | +24.02% |
Volatility
CRWV vs. APLD - Volatility Comparison
The current volatility for CoreWeave, Inc. (CRWV) is 24.45%, while Applied Digital Corporation (APLD) has a volatility of 30.09%. This indicates that CRWV 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.
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Volatility by Period
| CRWV | APLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.45% | 30.09% | -5.64% |
Volatility (6M)Calculated over the trailing 6-month period | 67.33% | 77.05% | -9.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 94.37% | 106.79% | -12.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 113.49% | 165.10% | -51.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 113.49% | 301.63% | -188.14% |
Dividends
CRWV vs. APLD - Dividend Comparison
Neither CRWV nor APLD has paid dividends to shareholders.
Financials
CRWV vs. APLD - Financials Comparison
This section allows you to compare key financial metrics between CoreWeave, Inc. and Applied Digital 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
CRWV vs. APLD - Profitability Comparison
CRWV - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, CoreWeave, Inc. reported a gross profit of 1.36B and revenue of 2.08B. Therefore, the gross margin over that period was 65.5%.
APLD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Applied Digital Corporation reported a gross profit of 82.52M and revenue of 161.76M. Therefore, the gross margin over that period was 51.0%.
CRWV - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, CoreWeave, Inc. reported an operating income of -144.00M and revenue of 2.08B, resulting in an operating margin of -6.9%.
APLD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Applied Digital Corporation reported an operating income of -62.13M and revenue of 161.76M, resulting in an operating margin of -38.4%.
CRWV - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, CoreWeave, Inc. reported a net income of -740.00M and revenue of 2.08B, resulting in a net margin of -35.6%.
APLD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Applied Digital Corporation reported a net income of -104.11M and revenue of 161.76M, resulting in a net margin of -64.4%.
Frequently Asked Questions
CRWV and APLD have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APLD has higher volatility (30.09%) compared to CRWV (24.45%). In terms of maximum drawdown, CRWV dropped -64.84% vs APLD's -99.73%.
APLD currently has the higher Sharpe Ratio (3.19 vs -0.42), 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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