DOCS vs. MPWR

Last updated Jun 9, 2026

DOCS (Doximity, Inc.) and MPWR (Monolithic Power Systems, Inc.) are both stocks. DOCS operates in Health Information Services (Healthcare), while MPWR operates in Semiconductors (Technology). Over the past 3 years, DOCS returned -13.78%/yr vs 47.03%/yr for MPWR. At a 0.35 correlation, their price movements are largely independent.

Performance

DOCS vs. MPWR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Doximity, Inc. (DOCS) and Monolithic Power Systems, Inc. (MPWR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DOCS achieves a -54.16% return, which is significantly lower than MPWR's 72.37% return.

DOCS

• 1D: -1.41%
• 1M: -21.86%
• YTD: -54.16%
• 6M: -55.56%
• 1Y: -65.51%
• 3Y*: -13.78%
• 5Y*: —
• 10Y*: —

MPWR

• 1D: 5.28%
• 1M: -2.60%
• YTD: 72.37%
• 6M: 59.11%
• 1Y: 128.65%
• 3Y*: 47.03%
• 5Y*: 36.56%
• 10Y*: 37.72%

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

DOCS vs. MPWR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DOCS Doximity, Inc.	-54.16%	-17.06%	90.41%	-16.45%	-33.05%	-5.42%
MPWR Monolithic Power Systems, Inc.	72.37%	54.45%	-5.55%	79.78%	-27.78%	37.84%

Correlation

The correlation between DOCS and MPWR is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jun 25, 2021	0.35

Over the past year, the correlation between DOCS and MPWR has dropped to 0.06 - well below their long-term average of 0.35, suggesting their price drivers have been diverging.

Fundamentals

Market Cap DOCS : $3.96B MPWR : $76.78B
EPS DOCS : $0.98 MPWR : $13.89
PE Ratio DOCS : 20.61 MPWR : 112.24
PEG Ratio DOCS : 1.76 MPWR : 1.41
PS Ratio DOCS : 6.27 MPWR : 25.63
PB Ratio DOCS : 4.16 MPWR : 20.88
Total Revenue (TTM) DOCS : $644.86M MPWR : $2.96B
Gross Profit (TTM) DOCS : $574.54M MPWR : $1.63B
EBITDA (TTM) DOCS : $245.76M MPWR : $861.78M

Return for Risk

DOCS vs. MPWR — Risk / Return Rank

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

DOCS

DOCS Risk / Return Rank: 4
DOCS Sharpe Ratio Rank: 2
DOCS Sortino Ratio Rank: 2
DOCS Omega Ratio Rank: 2
DOCS Calmar Ratio Rank: 8
DOCS Martin Ratio Rank: 6

MPWR

MPWR Risk / Return Rank: 92
MPWR Sharpe Ratio Rank: 94
MPWR Sortino Ratio Rank: 90
MPWR Omega Ratio Rank: 88
MPWR Calmar Ratio Rank: 94
MPWR Martin Ratio Rank: 93

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.

DOCS vs. MPWR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Doximity, Inc. (DOCS) and Monolithic Power Systems, Inc. (MPWR). 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.

	DOCS	MPWR	Difference
Sharpe ratio: Return per unit of total volatility	-1.21	2.70	-3.91
Sortino ratio: Return per unit of downside risk	-2.00	3.12	-5.13
Omega ratio: Gain probability vs. loss probability	0.71	1.39	-0.68
Calmar ratio: Return relative to maximum drawdown	-0.86	5.76	-6.63
Martin ratio: Return relative to average drawdown	-1.47	15.40	-16.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DOCS vs. MPWR - Sharpe Ratio Comparison

The current DOCS Sharpe Ratio is -1.21, which is lower than the MPWR Sharpe Ratio of 2.70. The chart below compares the historical Sharpe Ratios of DOCS and MPWR, 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

	DOCS	MPWR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.21	2.70	-3.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.69	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.26	0.58	-0.84

Drawdowns

DOCS vs. MPWR - Drawdown Comparison

The maximum DOCS drawdown since its inception was -82.35%, which is greater than MPWR's maximum drawdown of -72.27%. Use the drawdown chart below to compare losses from any high point for DOCS and MPWR.

Drawdown Indicators

	DOCS	MPWR	Difference
Max Drawdown Largest peak-to-trough decline	-82.35%	-72.27%	-10.08%
Max Drawdown (1Y) Largest decline over 1 year	-76.03%	-22.45%	-53.58%
Max Drawdown (3Y) Largest decline over 3 years	-78.34%	-51.65%	-26.69%
Max Drawdown (5Y) Largest decline over 5 years	—	-51.65%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-51.65%	—
Current Drawdown Current decline from peak	-80.10%	-7.73%	-72.37%
Average Drawdown Average peak-to-trough decline	-57.16%	-17.72%	-39.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.55%	8.38%	+36.17%

Volatility

DOCS vs. MPWR - Volatility Comparison

Doximity, Inc. (DOCS) has a higher volatility of 31.83% compared to Monolithic Power Systems, Inc. (MPWR) at 19.38%. This indicates that DOCS's price experiences larger fluctuations and is considered to be riskier than MPWR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DOCS	MPWR	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.83%	19.38%	+12.45%
Volatility (6M) Calculated over the trailing 6-month period	46.10%	36.53%	+9.57%
Volatility (1Y) Calculated over the trailing 1-year period	54.27%	47.99%	+6.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.01%	53.40%	+15.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.01%	47.17%	+21.84%

Dividends

DOCS vs. MPWR - Dividend Comparison

DOCS has not paid dividends to shareholders, while MPWR's dividend yield for the trailing twelve months is around 0.43%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DOCS Doximity, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MPWR Monolithic Power Systems, Inc.	0.43%	0.69%	0.85%	0.63%	0.85%	0.49%	0.55%	0.90%	1.03%	0.71%	0.98%	1.26%

Financials

DOCS vs. MPWR - Profitability Comparison

The chart below illustrates the profitability comparison between Doximity, Inc. and Monolithic Power Systems, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

DOCS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Doximity, Inc. reported a gross profit of 125.97M and revenue of 145.37M. Therefore, the gross margin over that period was 86.7%.

MPWR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Monolithic Power Systems, Inc. reported a gross profit of 445.07M and revenue of 804.19M. Therefore, the gross margin over that period was 55.3%.

DOCS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Doximity, Inc. reported an operating income of 24.83M and revenue of 145.37M, resulting in an operating margin of 17.1%.

MPWR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Monolithic Power Systems, Inc. reported an operating income of 241.15M and revenue of 804.19M, resulting in an operating margin of 30.0%.

DOCS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Doximity, Inc. reported a net income of 19.11M and revenue of 145.37M, resulting in a net margin of 13.2%.

MPWR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Monolithic Power Systems, Inc. reported a net income of 193.23M and revenue of 804.19M, resulting in a net margin of 24.0%.

Frequently Asked Questions

Can I hold both DOCS and MPWR in my portfolio?

DOCS and MPWR have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DOCS or MPWR?

DOCS has higher volatility (31.83%) compared to MPWR (19.38%). In terms of maximum drawdown, DOCS dropped -82.35% vs MPWR's -72.27%.

Which has better risk-adjusted returns?

MPWR currently has the higher Sharpe Ratio (2.70 vs -1.21), 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.