FSM vs. SOUN

Last updated Jun 13, 2026

FSM (Fortuna Silver Mines Inc.) and SOUN (SoundHound AI, Inc.) are both stocks. FSM operates in Silver (Basic Materials), while SOUN operates in Software - Application (Technology). Over the past 3 years, FSM returned 38.24%/yr vs 29.87%/yr for SOUN. At a 0.15 correlation, their price movements are largely independent.

Performance

FSM vs. SOUN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fortuna Silver Mines Inc. (FSM) and SoundHound AI, Inc. (SOUN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSM achieves a -8.97% return, which is significantly higher than SOUN's -30.79% return.

FSM

• 1D: 3.72%
• 1M: -6.49%
• YTD: -8.97%
• 6M: -8.69%
• 1Y: 29.80%
• 3Y*: 38.24%
• 5Y*: 6.23%
• 10Y*: 3.63%

SOUN

• 1D: -1.43%
• 1M: -17.95%
• YTD: -30.79%
• 6M: -40.77%
• 1Y: -24.18%
• 3Y*: 29.87%
• 5Y*: —
• 10Y*: —

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

FSM vs. SOUN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FSM Fortuna Silver Mines Inc.	-8.97%	128.67%	11.14%	2.93%	11.28%
SOUN SoundHound AI, Inc.	-30.79%	-49.75%	835.85%	19.77%	-79.70%

Correlation

The correlation between FSM and SOUN is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (All Time) Calculated using the full available price history since Apr 28, 2022	0.15

The correlation between FSM and SOUN shifts across timeframes, from 0.15 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap FSM : $2.97B SOUN : $2.34B
EPS FSM : $1.06 SOUN : -$0.43
PS Ratio FSM : 2.61 SOUN : 14.72
PB Ratio FSM : 1.68 SOUN : 5.07
Total Revenue (TTM) FSM : $1.10B SOUN : $183.99M
Gross Profit (TTM) FSM : $598.05M SOUN : $69.84M
EBITDA (TTM) FSM : $743.42M SOUN : -$124.47M

Return for Risk

FSM vs. SOUN — Risk / Return Rank

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

FSM

FSM Risk / Return Rank: 59
FSM Sharpe Ratio Rank: 61
FSM Sortino Ratio Rank: 58
FSM Omega Ratio Rank: 58
FSM Calmar Ratio Rank: 60
FSM Martin Ratio Rank: 62

SOUN

SOUN Risk / Return Rank: 31
SOUN Sharpe Ratio Rank: 28
SOUN Sortino Ratio Rank: 32
SOUN Omega Ratio Rank: 32
SOUN Calmar Ratio Rank: 30
SOUN Martin Ratio Rank: 32

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.

FSM vs. SOUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fortuna Silver Mines Inc. (FSM) and SoundHound AI, Inc. (SOUN). 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.

	FSM	SOUN	Difference
Sharpe ratio: Return per unit of total volatility	0.52	-0.34	+0.86
Sortino ratio: Return per unit of downside risk	1.04	-0.01	+1.05
Omega ratio: Gain probability vs. loss probability	1.13	1.00	+0.14
Calmar ratio: Return relative to maximum drawdown	0.73	-0.38	+1.11
Martin ratio: Return relative to average drawdown	1.87	-0.60	+2.47

FSM vs. SOUN - Sharpe Ratio Comparison

The current FSM Sharpe Ratio is 0.52, which is higher than the SOUN Sharpe Ratio of -0.34. The chart below compares the historical Sharpe Ratios of FSM and SOUN, 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

FSM vs. SOUN - Drawdown Comparison

The maximum FSM drawdown since its inception was -92.25%, roughly equal to the maximum SOUN drawdown of -93.55%. Use the drawdown chart below to compare losses from any high point for FSM and SOUN.

Drawdown Indicators

	FSM	SOUN	Difference
Max Drawdown Largest peak-to-trough decline	-92.25%	-93.55%	+1.30%
Max Drawdown (1Y) Largest decline over 1 year	-40.78%	-72.43%	+31.65%
Max Drawdown (3Y) Largest decline over 3 years	-40.78%	-75.65%	+34.87%
Max Drawdown (5Y) Largest decline over 5 years	-67.09%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-81.07%	—	—
Current Drawdown Current decline from peak	-34.63%	-71.52%	+36.89%
Average Drawdown Average peak-to-trough decline	-45.15%	-66.93%	+21.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.94%	45.29%	-29.35%

Volatility

FSM vs. SOUN - Volatility Comparison

Fortuna Silver Mines Inc. (FSM) and SoundHound AI, Inc. (SOUN) have volatilities of 18.09% and 17.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSM	SOUN	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.09%	17.69%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	45.78%	52.15%	-6.37%
Volatility (1Y) Calculated over the trailing 1-year period	57.67%	80.70%	-23.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.48%	136.27%	-78.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.50%	136.27%	-76.77%

Dividends

FSM vs. SOUN - Dividend Comparison

Neither FSM nor SOUN has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both FSM and SOUN in my portfolio?

FSM and SOUN have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSM or SOUN?

FSM has higher volatility (18.09%) compared to SOUN (17.69%). In terms of maximum drawdown, FSM dropped -92.25% vs SOUN's -93.55%.

Which has better risk-adjusted returns?

FSM currently has the higher Sharpe Ratio (0.52 vs -0.34), 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.