HNGE vs. OUST

Last updated Jun 24, 2026

HNGE (Hinge Health, Inc) and OUST (Ouster, Inc.) are both stocks. HNGE operates in Health Information Services (Healthcare), while OUST operates in Electronic Components (Technology). Over the past year, HNGE returned 61.09% vs 90.55% for OUST. At a 0.21 correlation, their price movements are largely independent.

Performance

HNGE vs. OUST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hinge Health, Inc (HNGE) and Ouster, Inc. (OUST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HNGE achieves a 51.52% return, which is significantly lower than OUST's 108.69% return.

HNGE

• 1D: 2.22%
• 1M: 27.38%
• YTD: 51.52%
• 6M: 44.34%
• 1Y: 61.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OUST

• 1D: -5.29%
• 1M: 21.96%
• YTD: 108.69%
• 6M: 99.38%
• 1Y: 90.55%
• 3Y*: 102.73%
• 5Y*: -19.09%
• 10Y*: —

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

HNGE vs. OUST - Yearly Performance Comparison

	2026 (YTD)	2025
HNGE Hinge Health, Inc	51.52%	18.34%
OUST Ouster, Inc.	108.69%	118.81%

Correlation

The correlation between HNGE and OUST is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (All Time) Calculated using the full available price history since May 22, 2025	0.21

Fundamentals

Market Cap HNGE : $5.80B OUST : $2.79B
EPS HNGE : -$6.30 OUST : -$0.94
PS Ratio HNGE : 8.81 OUST : 14.55
Total Revenue (TTM) HNGE : $646.34M OUST : $185.33M
Gross Profit (TTM) HNGE : $522.22M OUST : $90.79M
EBITDA (TTM) HNGE : -$514.46M OUST : -$50.85M

Return for Risk

HNGE vs. OUST — Risk / Return Rank

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

HNGE

HNGE Risk / Return Rank: 70
HNGE Sharpe Ratio Rank: 72
HNGE Sortino Ratio Rank: 72
HNGE Omega Ratio Rank: 71
HNGE Calmar Ratio Rank: 67
HNGE Martin Ratio Rank: 67

OUST

OUST Risk / Return Rank: 70
OUST Sharpe Ratio Rank: 71
OUST Sortino Ratio Rank: 73
OUST Omega Ratio Rank: 68
OUST Calmar Ratio Rank: 72
OUST Martin Ratio Rank: 68

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.

HNGE vs. OUST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hinge Health, Inc (HNGE) and Ouster, Inc. (OUST). 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.

	HNGE	OUST	Difference
Sharpe ratio: Return per unit of total volatility	0.96	0.93	+0.03
Sortino ratio: Return per unit of downside risk	1.73	1.80	-0.06
Omega ratio: Gain probability vs. loss probability	1.22	1.21	+0.02
Calmar ratio: Return relative to maximum drawdown	1.27	1.65	-0.39
Martin ratio: Return relative to average drawdown	2.78	3.05	-0.27

HNGE vs. OUST - Sharpe Ratio Comparison

The current HNGE Sharpe Ratio is 0.96, which is comparable to the OUST Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of HNGE and OUST, 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

HNGE vs. OUST - Drawdown Comparison

The maximum HNGE drawdown since its inception was -48.52%, smaller than the maximum OUST drawdown of -98.01%. Use the drawdown chart below to compare losses from any high point for HNGE and OUST.

Drawdown Indicators

	HNGE	OUST	Difference
Max Drawdown Largest peak-to-trough decline	-48.52%	-98.01%	+49.49%
Max Drawdown (1Y) Largest decline over 1 year	-48.52%	-55.15%	+6.63%
Max Drawdown (3Y) Largest decline over 3 years	—	-64.00%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-97.43%	—
Current Drawdown Current decline from peak	0.00%	-72.21%	+72.21%
Average Drawdown Average peak-to-trough decline	-17.81%	-78.00%	+60.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.05%	29.77%	-7.72%

Volatility

HNGE vs. OUST - Volatility Comparison

The current volatility for Hinge Health, Inc (HNGE) is 14.37%, while Ouster, Inc. (OUST) has a volatility of 34.94%. This indicates that HNGE experiences smaller price fluctuations and is considered to be less risky than OUST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HNGE	OUST	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.37%	34.94%	-20.57%
Volatility (6M) Calculated over the trailing 6-month period	39.46%	69.12%	-29.66%
Volatility (1Y) Calculated over the trailing 1-year period	63.86%	98.32%	-34.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.53%	96.80%	-33.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.53%	95.73%	-32.20%

Dividends

HNGE vs. OUST - Dividend Comparison

Neither HNGE nor OUST has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

HNGE vs. OUST - Profitability Comparison

The chart below illustrates the profitability comparison between Hinge Health, Inc and Ouster, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

HNGE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Hinge Health, Inc reported a gross profit of 154.23M and revenue of 182.31M. Therefore, the gross margin over that period was 84.6%.

OUST - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Ouster, Inc. reported a gross profit of 20.84M and revenue of 48.58M. Therefore, the gross margin over that period was 42.9%.

HNGE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Hinge Health, Inc reported an operating income of 32.07M and revenue of 182.31M, resulting in an operating margin of 17.6%.

OUST - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Ouster, Inc. reported an operating income of -19.21M and revenue of 48.58M, resulting in an operating margin of -39.6%.

HNGE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Hinge Health, Inc reported a net income of 35.13M and revenue of 182.31M, resulting in a net margin of 19.3%.

OUST - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Ouster, Inc. reported a net income of -17.47M and revenue of 48.58M, resulting in a net margin of -36.0%.

Frequently Asked Questions

Can I hold both HNGE and OUST in my portfolio?

HNGE and OUST have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HNGE or OUST?

OUST has higher volatility (34.94%) compared to HNGE (14.37%). In terms of maximum drawdown, HNGE dropped -48.52% vs OUST's -98.01%.

Which has better risk-adjusted returns?

HNGE currently has the higher Sharpe Ratio (0.96 vs 0.93), 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.