CVNA vs. LABU

Last updated Jun 4, 2026

CVNA (Carvana Co.) is a stock, while LABU (Direxion Daily S&P Biotech Bull 3x Shares) is Leveraged Equities fund tracking the S&P Biotechnology Select Industry Index (300%). Over the past 5 years, CVNA returned 2.60%/yr vs -32.76%/yr for LABU. At a 0.40 correlation, their price movements are largely independent.

Performance

CVNA vs. LABU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Carvana Co. (CVNA) and Direxion Daily S&P Biotech Bull 3x Shares (LABU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CVNA achieves a -24.59% return, which is significantly lower than LABU's 3.80% return.

CVNA

• 1D: -2.97%
• 1M: -15.48%
• YTD: -24.59%
• 6M: -19.43%
• 1Y: -6.43%
• 3Y*: 172.78%
• 5Y*: 2.60%
• 10Y*: —

LABU

• 1D: 4.61%
• 1M: -11.09%
• YTD: 3.80%
• 6M: 3.63%
• 1Y: 195.85%
• 3Y*: 7.82%
• 5Y*: -32.76%
• 10Y*: -13.53%

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

CVNA vs. LABU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CVNA Carvana Co.	-24.59%	107.52%	284.13%	1,016.88%	-97.96%	-3.24%	160.23%	181.41%	71.08%	72.25%
LABU Direxion Daily S&P Biotech Bull 3x Shares	3.80%	79.17%	-26.02%	-13.41%	-80.36%	-64.15%	74.66%	75.50%	-57.61%	50.69%

Correlation

The correlation between CVNA and LABU is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since May 1, 2017	0.40

The correlation between CVNA and LABU shifts across timeframes, from 0.25 (1 year) to 0.41 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

CVNA vs. LABU — Risk / Return Rank

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

CVNA

CVNA Risk / Return Rank: 35
CVNA Sharpe Ratio Rank: 36
CVNA Sortino Ratio Rank: 36
CVNA Omega Ratio Rank: 35
CVNA Calmar Ratio Rank: 35
CVNA Martin Ratio Rank: 35

LABU

LABU Risk / Return Rank: 75
LABU Sharpe Ratio Rank: 79
LABU Sortino Ratio Rank: 61
LABU Omega Ratio Rank: 55
LABU Calmar Ratio Rank: 92
LABU Martin Ratio Rank: 87

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. LABU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Carvana Co. (CVNA) and Direxion Daily S&P Biotech Bull 3x Shares (LABU). 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	LABU	Difference
Sharpe ratio: Return per unit of total volatility	-0.11	2.60	-2.71
Sortino ratio: Return per unit of downside risk	0.26	2.93	-2.67
Omega ratio: Gain probability vs. loss probability	1.03	1.35	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.16	6.42	-6.58
Martin ratio: Return relative to average drawdown	-0.35	18.77	-19.12
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. LABU - Sharpe Ratio Comparison

The current CVNA Sharpe Ratio is -0.11, which is lower than the LABU Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of CVNA and LABU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CVNA	LABU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.11	2.60	-2.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.02	-0.34	+0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.14	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	-0.24	+0.69

Drawdowns

CVNA vs. LABU - Drawdown Comparison

The maximum CVNA drawdown since its inception was -98.99%, roughly equal to the maximum LABU drawdown of -99.18%. Use the drawdown chart below to compare losses from any high point for CVNA and LABU.

Drawdown Indicators

	CVNA	LABU	Difference
Max Drawdown Largest peak-to-trough decline	-98.99%	-99.18%	+0.19%
Max Drawdown (1Y) Largest decline over 1 year	-41.21%	-30.70%	-10.51%
Max Drawdown (3Y) Largest decline over 3 years	-53.47%	-78.30%	+24.83%
Max Drawdown (5Y) Largest decline over 5 years	-98.99%	-97.59%	-1.40%
Max Drawdown (10Y) Largest decline over 10 years	—	-98.96%	—
Current Drawdown Current decline from peak	-33.48%	-96.34%	+62.86%
Average Drawdown Average peak-to-trough decline	-38.11%	-81.68%	+43.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.24%	10.48%	+7.76%

Volatility

CVNA vs. LABU - Volatility Comparison

The current volatility for Carvana Co. (CVNA) is 15.52%, while Direxion Daily S&P Biotech Bull 3x Shares (LABU) has a volatility of 27.83%. This indicates that CVNA experiences smaller price fluctuations and is considered to be less risky than LABU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVNA	LABU	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.52%	27.83%	-12.31%
Volatility (6M) Calculated over the trailing 6-month period	43.03%	59.70%	-16.67%
Volatility (1Y) Calculated over the trailing 1-year period	59.47%	75.91%	-16.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	111.18%	95.58%	+15.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	99.27%	95.42%	+3.85%

Dividends

CVNA vs. LABU - Dividend Comparison

CVNA has not paid dividends to shareholders, while LABU's dividend yield for the trailing twelve months is around 0.74%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CVNA Carvana Co.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LABU Direxion Daily S&P Biotech Bull 3x Shares	0.74%	0.84%	0.35%	0.35%	0.00%	0.00%	0.00%	0.28%	0.64%	0.17%

Frequently Asked Questions

Can I hold both CVNA and LABU in my portfolio?

CVNA and LABU have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CVNA or LABU?

LABU has higher volatility (27.83%) compared to CVNA (15.52%). In terms of maximum drawdown, CVNA dropped -98.99% vs LABU's -99.18%.

Which has better risk-adjusted returns?

LABU currently has the higher Sharpe Ratio (2.60 vs -0.11), 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.