DFS vs. LPLA

Last updated Jun 9, 2026

DFS (Discover Financial Services) and LPLA (LPL Financial Holdings Inc.) are both stocks. Both are in the Financial Services sector — DFS in Credit Services, LPLA in Capital Markets. At a 0.48 correlation, their price movements are largely independent.

Performance

DFS vs. LPLA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Discover Financial Services (DFS) and LPL Financial Holdings Inc. (LPLA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DFS

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

LPLA

• 1D: -1.65%
• 1M: -6.42%
• YTD: -20.40%
• 6M: -22.85%
• 1Y: -26.79%
• 3Y*: 12.01%
• 5Y*: 15.99%
• 10Y*: 29.01%

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

DFS vs. LPLA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFS Discover Financial Services	0.00%	15.88%	57.32%	18.20%	-13.55%	29.78%	10.13%	46.94%	-21.80%	8.92%
LPLA LPL Financial Holdings Inc.	-20.40%	9.76%	44.12%	5.88%	35.69%	54.63%	14.58%	52.95%	8.53%	66.03%

Correlation

The correlation between DFS and LPLA is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Nov 18, 2010	0.48

The correlation between DFS and LPLA shifts across timeframes, from 0.26 (3 years) to 0.51 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Total Revenue (TTM) DFS : $10.25B LPLA : $18.26B
Gross Profit (TTM) DFS : $7.81B LPLA : $7.58B
EBITDA (TTM) DFS : $4.40B LPLA : $2.23B

Return for Risk

DFS vs. LPLA — Risk / Return Rank

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

LPLA

LPLA Risk / Return Rank: 10
LPLA Sharpe Ratio Rank: 11
LPLA Sortino Ratio Rank: 13
LPLA Omega Ratio Rank: 13
LPLA Calmar Ratio Rank: 11
LPLA Martin Ratio Rank: 3

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.

DFS vs. LPLA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Discover Financial Services (DFS) and LPL Financial Holdings Inc. (LPLA). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	DFS	LPLA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.75	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.45	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.47	—

Drawdowns

Drawdown Indicators

	DFS	LPLA	Difference
Max Drawdown Largest peak-to-trough decline	—	-69.32%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-33.12%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-33.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-60.34%	—
Current Drawdown Current decline from peak	—	-28.63%	—
Average Drawdown Average peak-to-trough decline	—	-13.91%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	15.84%	—

Volatility

Volatility by Period

	DFS	LPLA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.60%	—
Volatility (6M) Calculated over the trailing 6-month period	—	27.76%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	36.06%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	36.03%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	38.12%	—

Dividends

DFS vs. LPLA - Dividend Comparison

DFS has not paid dividends to shareholders, while LPLA's dividend yield for the trailing twelve months is around 0.42%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFS Discover Financial Services	0.00%	0.35%	1.62%	2.40%	2.35%	1.63%	1.94%	1.98%	2.54%	1.69%	1.61%	2.01%
LPLA LPL Financial Holdings Inc.	0.42%	0.34%	0.37%	0.53%	0.46%	0.62%	0.96%	1.08%	1.64%	1.75%	2.84%	2.34%

Financials

Frequently Asked Questions

Can I hold both DFS and LPLA in my portfolio?

DFS and LPLA have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.