HLIT vs. PUBM
HLIT (Harmonic Inc.) and PUBM (PubMatic, Inc.) are both stocks. Both are in the Technology sector — HLIT in Communication Equipment, PUBM in Software - Application. Over the past 5 years, HLIT returned 17.09%/yr vs -15.78%/yr for PUBM. At a 0.34 correlation, their price movements are largely independent.
Performance
HLIT vs. PUBM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HLIT achieves a 57.53% return, which is significantly higher than PUBM's 35.74% return.
HLIT
- 1D
- -1.45%
- 1M
- 32.48%
- YTD
- 57.53%
- 6M
- 61.12%
- 1Y
- 72.15%
- 3Y*
- -4.43%
- 5Y*
- 17.09%
- 10Y*
- 18.35%
PUBM
- 1D
- -1.47%
- 1M
- 17.69%
- YTD
- 35.74%
- 6M
- 32.89%
- 1Y
- 1.35%
- 3Y*
- -12.82%
- 5Y*
- -15.78%
- 10Y*
- —
HLIT vs. PUBM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HLIT Harmonic Inc. | 57.53% | -25.25% | 1.46% | -0.46% | 11.39% | 59.13% | 6.41% |
PUBM PubMatic, Inc. | 35.74% | -39.62% | -9.93% | 27.32% | -62.38% | 21.78% | -5.06% |
Correlation
The correlation between HLIT and PUBM is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020 | 0.34 |
Fundamentals
HLIT:
$1.72B
PUBM:
$567.32M
HLIT:
-$0.37
PUBM:
-$0.37
HLIT:
3.51
PUBM:
2.03
HLIT:
4.85
PUBM:
2.26
HLIT:
$500.34M
PUBM:
$281.67M
HLIT:
$260.72M
PUBM:
$178.08M
HLIT:
$46.11M
PUBM:
$12.80M
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HLIT vs. PUBM — Risk / Return Rank
HLIT
PUBM
HLIT vs. PUBM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harmonic Inc. (HLIT) and PubMatic, Inc. (PUBM). 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.
| HLIT | PUBM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.59 | 0.02 | +1.57 |
Sortino ratioReturn per unit of downside risk | 2.25 | 0.59 | +1.66 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.08 | +0.23 |
Calmar ratioReturn relative to maximum drawdown | 3.81 | 0.05 | +3.75 |
Martin ratioReturn relative to average drawdown | 8.85 | 0.08 | +8.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| HLIT | PUBM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.59 | 0.02 | +1.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | -0.24 | +0.60 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | -0.21 | +0.24 |
Drawdowns
HLIT vs. PUBM - Drawdown Comparison
The maximum HLIT drawdown since its inception was -99.32%, which is greater than PUBM's maximum drawdown of -91.02%. Use the drawdown chart below to compare losses from any high point for HLIT and PUBM.
Loading charts...
Drawdown Indicators
| HLIT | PUBM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.32% | -91.02% | -8.30% |
Max Drawdown (1Y)Largest decline over 1 year | -19.10% | -54.06% | +34.96% |
Max Drawdown (3Y)Largest decline over 3 years | -55.14% | -73.86% | +18.72% |
Max Drawdown (5Y)Largest decline over 5 years | -55.14% | -85.21% | +30.07% |
Max Drawdown (10Y)Largest decline over 10 years | -55.14% | — | — |
Current DrawdownCurrent decline from peak | -89.78% | -82.78% | -7.00% |
Average DrawdownAverage peak-to-trough decline | -84.34% | -70.67% | -13.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.22% | 34.29% | -26.07% |
Volatility
HLIT vs. PUBM - Volatility Comparison
Harmonic Inc. (HLIT) has a higher volatility of 26.06% compared to PubMatic, Inc. (PUBM) at 14.16%. This indicates that HLIT's price experiences larger fluctuations and is considered to be riskier than PUBM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HLIT | PUBM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.06% | 14.16% | +11.90% |
Volatility (6M)Calculated over the trailing 6-month period | 36.68% | 32.82% | +3.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.51% | 69.51% | -24.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.00% | 66.39% | -18.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.49% | 72.55% | -22.06% |
Dividends
HLIT vs. PUBM - Dividend Comparison
Neither HLIT nor PUBM has paid dividends to shareholders.
Financials
HLIT vs. PUBM - Financials Comparison
This section allows you to compare key financial metrics between Harmonic Inc. and PubMatic, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
HLIT vs. PUBM - Profitability Comparison
HLIT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Harmonic Inc. reported a gross profit of 63.62M and revenue of 121.70M. Therefore, the gross margin over that period was 52.3%.
PUBM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, PubMatic, Inc. reported a gross profit of 36.47M and revenue of 62.57M. Therefore, the gross margin over that period was 58.3%.
HLIT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Harmonic Inc. reported an operating income of 20.45M and revenue of 121.70M, resulting in an operating margin of 16.8%.
PUBM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, PubMatic, Inc. reported an operating income of -15.27M and revenue of 62.57M, resulting in an operating margin of -24.4%.
HLIT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Harmonic Inc. reported a net income of 7.31M and revenue of 121.70M, resulting in a net margin of 6.0%.
PUBM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, PubMatic, Inc. reported a net income of -12.51M and revenue of 62.57M, resulting in a net margin of -20.0%.
Frequently Asked Questions
HLIT and PUBM have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HLIT has higher volatility (26.06%) compared to PUBM (14.16%). In terms of maximum drawdown, HLIT dropped -99.32% vs PUBM's -91.02%.
HLIT currently has the higher Sharpe Ratio (1.59 vs 0.02), 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.
Find the right allocation for HLIT and PUBM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer