DELL vs. AMAT

Last updated Jun 13, 2026

DELL (Dell Technologies Inc.) and AMAT (Applied Materials, Inc.) are both stocks. Both are in the Technology sector — DELL in Computer Hardware, AMAT in Semiconductor Equipment & Materials. Over the past 5 years, DELL returned 52.50%/yr vs 34.02%/yr for AMAT. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

DELL vs. AMAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dell Technologies Inc. (DELL) and Applied Materials, Inc. (AMAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DELL achieves a 216.60% return, which is significantly higher than AMAT's 121.28% return.

DELL

• 1D: 1.05%
• 1M: 63.47%
• YTD: 216.60%
• 6M: 206.61%
• 1Y: 266.54%
• 3Y*: 104.49%
• 5Y*: 52.50%
• 10Y*: —

AMAT

• 1D: 2.64%
• 1M: 30.08%
• YTD: 121.28%
• 6M: 119.38%
• 1Y: 234.96%
• 3Y*: 60.05%
• 5Y*: 34.02%
• 10Y*: 38.86%

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

DELL vs. AMAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DELL Dell Technologies Inc.	216.60%	11.22%	52.97%	95.85%	-26.63%	51.21%	42.62%	5.16%	14.50%
AMAT Applied Materials, Inc.	121.28%	59.60%	1.13%	67.97%	-37.54%	83.64%	43.29%	89.86%	5.95%

Correlation

The correlation between DELL and AMAT is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Dec 21, 2018	0.51

The correlation between DELL and AMAT shifts across timeframes, from 0.36 (1 year) to 0.51 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap DELL : $259.49B AMAT : $453.23B
EPS DELL : $12.42 AMAT : $10.61
PE Ratio DELL : 31.85 AMAT : 53.45
PEG Ratio DELL : 2.03 AMAT : 6.80
PS Ratio DELL : 2.00 AMAT : 15.67
Total Revenue (TTM) DELL : $134.00B AMAT : $29.02B
Gross Profit (TTM) DELL : $25.67B AMAT : $14.21B
EBITDA (TTM) DELL : $10.64B AMAT : $9.92B

Return for Risk

DELL vs. AMAT — Risk / Return Rank

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

DELL

DELL Risk / Return Rank: 96
DELL Sharpe Ratio Rank: 98
DELL Sortino Ratio Rank: 97
DELL Omega Ratio Rank: 96
DELL Calmar Ratio Rank: 97
DELL Martin Ratio Rank: 95

AMAT

AMAT Risk / Return Rank: 97
AMAT Sharpe Ratio Rank: 99
AMAT Sortino Ratio Rank: 96
AMAT Omega Ratio Rank: 96
AMAT Calmar Ratio Rank: 98
AMAT Martin Ratio Rank: 98

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.

DELL vs. AMAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dell Technologies Inc. (DELL) and Applied Materials, Inc. (AMAT). 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.

	DELL	AMAT	Difference
Sharpe ratio: Return per unit of total volatility	3.89	4.65	-0.77
Sortino ratio: Return per unit of downside risk	4.57	4.13	+0.45
Omega ratio: Gain probability vs. loss probability	1.56	1.59	-0.03
Calmar ratio: Return relative to maximum drawdown	7.91	10.67	-2.76
Martin ratio: Return relative to average drawdown	17.63	30.41	-12.78

DELL vs. AMAT - Sharpe Ratio Comparison

The current DELL Sharpe Ratio is 3.89, which is comparable to the AMAT Sharpe Ratio of 4.65. The chart below compares the historical Sharpe Ratios of DELL and AMAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DELL vs. AMAT - Drawdown Comparison

The maximum DELL drawdown since its inception was -59.59%, smaller than the maximum AMAT drawdown of -85.22%. Use the drawdown chart below to compare losses from any high point for DELL and AMAT.

Drawdown Indicators

	DELL	AMAT	Difference
Max Drawdown Largest peak-to-trough decline	-59.59%	-85.22%	+25.63%
Max Drawdown (1Y) Largest decline over 1 year	-32.34%	-21.37%	-10.97%
Max Drawdown (3Y) Largest decline over 3 years	-59.59%	-49.88%	-9.71%
Max Drawdown (5Y) Largest decline over 5 years	-59.59%	-55.14%	-4.45%
Max Drawdown (10Y) Largest decline over 10 years	—	-55.14%	—
Current Drawdown Current decline from peak	-15.11%	0.00%	-15.11%
Average Drawdown Average peak-to-trough decline	-18.48%	-38.78%	+20.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.49%	7.49%	+7.00%

Volatility

DELL vs. AMAT - Volatility Comparison

Dell Technologies Inc. (DELL) has a higher volatility of 36.55% compared to Applied Materials, Inc. (AMAT) at 20.52%. This indicates that DELL's price experiences larger fluctuations and is considered to be riskier than AMAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DELL	AMAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	36.55%	20.52%	+16.03%
Volatility (6M) Calculated over the trailing 6-month period	54.73%	38.83%	+15.90%
Volatility (1Y) Calculated over the trailing 1-year period	65.88%	49.03%	+16.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.86%	44.20%	+6.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.99%	42.94%	+5.05%

Dividends

DELL vs. AMAT - Dividend Comparison

DELL's dividend yield for the trailing twelve months is around 0.56%, more than AMAT's 0.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMAT Applied Materials, Inc.	0.34%	0.69%	0.93%	0.75%	1.05%	0.60%	1.01%	1.36%	2.14%	0.78%	1.24%	2.14%
DELL Dell Technologies Inc.	0.56%	1.60%	1.48%	1.88%	2.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

DELL vs. AMAT - Profitability Comparison

The chart below illustrates the profitability comparison between Dell Technologies Inc. and Applied Materials, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

DELL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Dell Technologies Inc. reported a gross profit of 7.78B and revenue of 43.84B. Therefore, the gross margin over that period was 17.8%.

AMAT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Applied Materials, Inc. reported a gross profit of 3.95B and revenue of 7.91B. Therefore, the gross margin over that period was 49.9%.

DELL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Dell Technologies Inc. reported an operating income of 3.66B and revenue of 43.84B, resulting in an operating margin of 8.3%.

AMAT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Applied Materials, Inc. reported an operating income of 2.52B and revenue of 7.91B, resulting in an operating margin of 31.9%.

DELL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Dell Technologies Inc. reported a net income of 3.44B and revenue of 43.84B, resulting in a net margin of 7.8%.

AMAT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Applied Materials, Inc. reported a net income of 2.81B and revenue of 7.91B, resulting in a net margin of 35.5%.

Frequently Asked Questions

Can I hold both DELL and AMAT in my portfolio?

DELL and AMAT have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DELL or AMAT?

DELL has higher volatility (36.55%) compared to AMAT (20.52%). In terms of maximum drawdown, DELL dropped -59.59% vs AMAT's -85.22%.

Which has better risk-adjusted returns?

AMAT currently has the higher Sharpe Ratio (4.65 vs 3.89), 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.