HALO vs. APLD

Last updated Jun 3, 2026

HALO (Halozyme Therapeutics, Inc.) and APLD (Applied Digital Corporation) are both stocks. HALO operates in Biotechnology (Healthcare), while APLD operates in Capital Markets (Financial Services). Over the past 10 years, HALO returned 21.28%/yr vs 91.54%/yr for APLD. At a 0.05 correlation, their price movements are largely independent.

Performance

HALO vs. APLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Halozyme Therapeutics, Inc. (HALO) and Applied Digital Corporation (APLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HALO achieves a -1.52% return, which is significantly lower than APLD's 95.19% return. Over the past 10 years, HALO has underperformed APLD with an annualized return of 21.28%, while APLD has yielded a comparatively higher 91.54% annualized return.

HALO

• 1D: -2.73%
• 1M: 3.63%
• YTD: -1.52%
• 6M: -0.39%
• 1Y: 19.12%
• 3Y*: 25.45%
• 5Y*: 11.28%
• 10Y*: 21.28%

APLD

• 1D: -0.17%
• 1M: 42.65%
• YTD: 95.19%
• 6M: 70.62%
• 1Y: 371.99%
• 3Y*: 73.02%
• 5Y*: 58.80%
• 10Y*: 91.54%

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

HALO vs. APLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HALO Halozyme Therapeutics, Inc.	-1.52%	40.77%	29.36%	-35.04%	41.51%	-5.85%	140.89%	21.19%	-27.79%	105.06%
APLD Applied Digital Corporation	95.19%	220.94%	13.35%	266.30%	-92.68%	11,789.90%	389.44%	-34.55%	64.99%	-33.33%

Correlation

The correlation between HALO and APLD is 0.08, 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	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.09
Correlation (All Time) Calculated using the full available price history since Oct 23, 2008	0.05

The correlation between HALO and APLD shifts across timeframes, from 0.05 (all time) to 0.16 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap HALO : $8.14B APLD : $13.00B
EPS HALO : $2.87 APLD : -$0.72
PS Ratio HALO : 5.35 APLD : 32.44
PB Ratio HALO : 37.08 APLD : 8.26
Total Revenue (TTM) HALO : $1.51B APLD : $390.57M
Gross Profit (TTM) HALO : $1.23B APLD : $124.93M
EBITDA (TTM) HALO : $980.05M APLD : -$154.66M

Return for Risk

HALO vs. APLD — Risk / Return Rank

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

HALO

HALO Risk / Return Rank: 56
HALO Sharpe Ratio Rank: 61
HALO Sortino Ratio Rank: 55
HALO Omega Ratio Rank: 53
HALO Calmar Ratio Rank: 57
HALO Martin Ratio Rank: 55

APLD

APLD Risk / Return Rank: 94
APLD Sharpe Ratio Rank: 96
APLD Sortino Ratio Rank: 92
APLD Omega Ratio Rank: 88
APLD Calmar Ratio Rank: 98
APLD Martin Ratio Rank: 97

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.

HALO vs. APLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Halozyme Therapeutics, Inc. (HALO) and Applied Digital Corporation (APLD). 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.

	HALO	APLD	Difference
Sharpe ratio Return per unit of total volatility	0.64	3.40	-2.76
Sortino ratio Return per unit of downside risk	1.06	3.56	-2.50
Omega ratio Gain probability vs. loss probability	1.13	1.40	-0.27
Calmar ratio Return relative to maximum drawdown	0.75	11.94	-11.18
Martin ratio Return relative to average drawdown	1.45	27.23	-25.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HALO vs. APLD - Sharpe Ratio Comparison

The current HALO Sharpe Ratio is 0.64, which is lower than the APLD Sharpe Ratio of 3.40. The chart below compares the historical Sharpe Ratios of HALO and APLD, 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

	HALO	APLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	3.40	-2.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.41	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.41	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.05	+0.18

Drawdowns

HALO vs. APLD - Drawdown Comparison

The maximum HALO drawdown since its inception was -74.26%, smaller than the maximum APLD drawdown of -99.70%. Use the drawdown chart below to compare losses from any high point for HALO and APLD.

Drawdown Indicators

	HALO	APLD	Difference
Max Drawdown Largest peak-to-trough decline	-74.26%	-99.70%	+25.44%
Max Drawdown (1Y) Largest decline over 1 year	-24.13%	-50.31%	+26.18%
Max Drawdown (3Y) Largest decline over 3 years	-33.92%	-76.66%	+42.74%
Max Drawdown (5Y) Largest decline over 5 years	-49.06%	-97.10%	+48.04%
Max Drawdown (10Y) Largest decline over 10 years	-49.06%	-97.10%	+48.04%
Current Drawdown Current decline from peak	-18.40%	-3.61%	-14.79%
Average Drawdown Average peak-to-trough decline	-31.91%	-83.30%	+51.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.56%	22.06%	-9.50%

Volatility

HALO vs. APLD - Volatility Comparison

The current volatility for Halozyme Therapeutics, Inc. (HALO) is 10.41%, while Applied Digital Corporation (APLD) has a volatility of 33.83%. This indicates that HALO experiences smaller price fluctuations and is considered to be less risky than APLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HALO	APLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.41%	33.83%	-23.42%
Volatility (6M) Calculated over the trailing 6-month period	24.18%	79.30%	-55.12%
Volatility (1Y) Calculated over the trailing 1-year period	29.89%	120.15%	-90.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.47%	145.10%	-105.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.89%	295.34%	-252.45%

Dividends

HALO vs. APLD - Dividend Comparison

Neither HALO nor APLD has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

HALO vs. APLD - Profitability Comparison

The chart below illustrates the profitability comparison between Halozyme Therapeutics, Inc. and Applied Digital Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

HALO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Halozyme Therapeutics, Inc. reported a gross profit of 297.47M and revenue of 376.71M. Therefore, the gross margin over that period was 79.0%.

APLD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Applied Digital Corporation reported a gross profit of 82.52M and revenue of 161.76M. Therefore, the gross margin over that period was 51.0%.

HALO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Halozyme Therapeutics, Inc. reported an operating income of 184.52M and revenue of 376.71M, resulting in an operating margin of 49.0%.

APLD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Applied Digital Corporation reported an operating income of -62.13M and revenue of 161.76M, resulting in an operating margin of -38.4%.

HALO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Halozyme Therapeutics, Inc. reported a net income of 150.05M and revenue of 376.71M, resulting in a net margin of 39.8%.

APLD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Applied Digital Corporation reported a net income of -104.11M and revenue of 161.76M, resulting in a net margin of -64.4%.

Frequently Asked Questions

Can I hold both HALO and APLD in my portfolio?

HALO and APLD have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HALO or APLD?

APLD has higher volatility (33.83%) compared to HALO (10.41%). In terms of maximum drawdown, HALO dropped -74.26% vs APLD's -99.70%.

Which has better risk-adjusted returns?

APLD currently has the higher Sharpe Ratio (3.40 vs 0.64), 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.