CVNA vs. APP

Last updated Apr 1, 2026

Compare and contrast key facts about Carvana Co. (CVNA) and AppLovin Corporation (APP).

Performance

CVNA vs. APP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Carvana Co. (CVNA) and AppLovin Corporation (APP). The values are adjusted to include any dividend payments, if applicable.

CVNA vs. APP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CVNA Carvana Co.	-25.51%	107.52%	284.13%	1,016.88%	-97.96%	-17.71%
APP AppLovin Corporation	-40.93%	108.08%	712.62%	278.44%	-88.83%	44.57%

Fundamentals

Market Cap CVNA : $70.90B APP : $135.28B
EPS CVNA : $8.20 APP : $9.78
PE Ratio CVNA : 38.36 APP : 40.71
PEG Ratio CVNA : 0.18 APP : 0.12
PS Ratio CVNA : 2.66 APP : 24.76
PB Ratio CVNA : 20.60 APP : 63.37
Total Revenue (TTM) CVNA : $20.32B APP : $5.48B
Gross Profit (TTM) CVNA : $4.19B APP : $4.82B
EBITDA (TTM) CVNA : $1.98B APP : $4.12B

Returns By Period

In the year-to-date period, CVNA achieves a -25.51% return, which is significantly higher than APP's -40.93% return.

CVNA

• 1D: 8.11%
• 1M: -5.92%
• YTD: -25.51%
• 6M: -16.66%
• 1Y: 50.36%
• 3Y*: 217.85%
• 5Y*: 3.45%
• 10Y*: —

APP

• 1D: 6.97%
• 1M: -8.46%
• YTD: -40.93%
• 6M: -44.61%
• 1Y: 50.21%
• 3Y*: 193.45%
• 5Y*: —
• 10Y*: —

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

Return for Risk

CVNA vs. APP — Risk / Return Rank

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

CVNA

CVNA Risk / Return Rank: 68
CVNA Sharpe Ratio Rank: 68
CVNA Sortino Ratio Rank: 66
CVNA Omega Ratio Rank: 66
CVNA Calmar Ratio Rank: 69
CVNA Martin Ratio Rank: 71

APP

APP Risk / Return Rank: 64
APP Sharpe Ratio Rank: 66
APP Sortino Ratio Rank: 64
APP Omega Ratio Rank: 64
APP Calmar Ratio Rank: 63
APP Martin Ratio Rank: 64

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.

CVNA vs. APP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Carvana Co. (CVNA) and AppLovin Corporation (APP). 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.

	CVNA	APP	Difference
Sharpe ratio Return per unit of total volatility	0.73	0.67	+0.07
Sortino ratio Return per unit of downside risk	1.38	1.29	+0.09
Omega ratio Gain probability vs. loss probability	1.19	1.17	+0.01
Calmar ratio Return relative to maximum drawdown	1.31	0.92	+0.38
Martin ratio Return relative to average drawdown	3.51	2.24	+1.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CVNA vs. APP - Sharpe Ratio Comparison

The current CVNA Sharpe Ratio is 0.73, which is comparable to the APP Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of CVNA and APP, 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

	CVNA	APP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.73	0.67	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.57	-0.11

Correlation

The correlation between CVNA and APP is 0.48, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

CVNA vs. APP - Dividend Comparison

Neither CVNA nor APP has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

CVNA vs. APP - Drawdown Comparison

The maximum CVNA drawdown since its inception was -98.99%, which is greater than APP's maximum drawdown of -91.90%. Use the drawdown chart below to compare losses from any high point for CVNA and APP.

Drawdown Indicators

	CVNA	APP	Difference
Max Drawdown Largest peak-to-trough decline	-98.99%	-91.90%	-7.09%
Max Drawdown (1Y) Largest decline over 1 year	-41.21%	-49.99%	+8.78%
Max Drawdown (5Y) Largest decline over 5 years	-98.99%	—	—
Current Drawdown Current decline from peak	-34.29%	-45.75%	+11.46%
Average Drawdown Average peak-to-trough decline	-38.39%	-42.76%	+4.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.31%	20.59%	-5.28%

Volatility

CVNA vs. APP - Volatility Comparison

The current volatility for Carvana Co. (CVNA) is 18.52%, while AppLovin Corporation (APP) has a volatility of 21.74%. This indicates that CVNA experiences smaller price fluctuations and is considered to be less risky than APP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVNA	APP	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.52%	21.74%	-3.22%
Volatility (6M) Calculated over the trailing 6-month period	48.03%	58.38%	-10.35%
Volatility (1Y) Calculated over the trailing 1-year period	69.29%	75.93%	-6.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	111.13%	77.95%	+33.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	99.97%	77.95%	+22.02%

Financials