HOWL vs. RANI

Last updated Jun 6, 2026

HOWL (Werewolf Therapeutics, Inc.) and RANI (Rani Therapeutics Holdings, Inc.) are both stocks. Both operate in the Biotechnology industry within the Healthcare sector. Over the past 3 years, HOWL returned -51.65%/yr vs -44.79%/yr for RANI. At a 0.17 correlation, their price movements are largely independent.

Performance

HOWL vs. RANI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Werewolf Therapeutics, Inc. (HOWL) and Rani Therapeutics Holdings, Inc. (RANI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with HOWL having a -38.07% return and RANI slightly lower at -38.56%.

HOWL

• 1D: -8.77%
• 1M: -36.73%
• YTD: -38.07%
• 6M: -58.78%
• 1Y: -72.37%
• 3Y*: -51.65%
• 5Y*: -49.84%
• 10Y*: —

RANI

• 1D: -7.69%
• 1M: -10.90%
• YTD: -38.56%
• 6M: -47.83%
• 1Y: 48.12%
• 3Y*: -44.79%
• 5Y*: —
• 10Y*: —

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

HOWL vs. RANI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HOWL Werewolf Therapeutics, Inc.	-38.07%	-57.20%	-61.66%	88.29%	-82.79%	-31.63%
RANI Rani Therapeutics Holdings, Inc.	-38.56%	-1.46%	-58.73%	-43.73%	-63.91%	48.64%

Correlation

The correlation between HOWL and RANI 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 (3Y) Calculated over the trailing 3-year period	0.22
Correlation (All Time) Calculated using the full available price history since Aug 2, 2021	0.17

Fundamentals

Market Cap HOWL : $19.37M RANI : $149.31M
EPS HOWL : -$1.20 RANI : -$0.29
PB Ratio HOWL : 1.59 RANI : 5.26
Total Revenue (TTM) HOWL : $0.00 RANI : $1.46M
Gross Profit (TTM) HOWL : -$804.00K RANI : $1.05M
EBITDA (TTM) HOWL : -$46.78M RANI : -$34.21M

Return for Risk

HOWL vs. RANI — Risk / Return Rank

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

HOWL

HOWL Risk / Return Rank: 12
HOWL Sharpe Ratio Rank: 12
HOWL Sortino Ratio Rank: 12
HOWL Omega Ratio Rank: 13
HOWL Calmar Ratio Rank: 10
HOWL Martin Ratio Rank: 11

RANI

RANI Risk / Return Rank: 68
RANI Sharpe Ratio Rank: 49
RANI Sortino Ratio Rank: 90
RANI Omega Ratio Rank: 89
RANI Calmar Ratio Rank: 59
RANI Martin Ratio Rank: 55

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.

HOWL vs. RANI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Werewolf Therapeutics, Inc. (HOWL) and Rani Therapeutics Holdings, Inc. (RANI). 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.

	HOWL	RANI	Difference
Sharpe ratio: Return per unit of total volatility	-0.71	0.21	-0.91
Sortino ratio: Return per unit of downside risk	-0.94	3.18	-4.12
Omega ratio: Gain probability vs. loss probability	0.89	1.41	-0.53
Calmar ratio: Return relative to maximum drawdown	-0.83	0.77	-1.60
Martin ratio: Return relative to average drawdown	-1.32	1.24	-2.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HOWL vs. RANI - Sharpe Ratio Comparison

The current HOWL Sharpe Ratio is -0.71, which is lower than the RANI Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of HOWL and RANI, 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

	HOWL	RANI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.71	0.21	-0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.51	-0.27	-0.24

Drawdowns

HOWL vs. RANI - Drawdown Comparison

The maximum HOWL drawdown since its inception was -98.07%, roughly equal to the maximum RANI drawdown of -98.83%. Use the drawdown chart below to compare losses from any high point for HOWL and RANI.

Drawdown Indicators

	HOWL	RANI	Difference
Max Drawdown Largest peak-to-trough decline	-98.07%	-98.83%	+0.76%
Max Drawdown (1Y) Largest decline over 1 year	-82.09%	-74.22%	-7.87%
Max Drawdown (3Y) Largest decline over 3 years	-95.04%	-94.78%	-0.26%
Max Drawdown (5Y) Largest decline over 5 years	-98.07%	—	—
Current Drawdown Current decline from peak	-98.07%	-97.63%	-0.44%
Average Drawdown Average peak-to-trough decline	-76.87%	-80.56%	+3.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	51.51%	46.16%	+5.35%

Volatility

HOWL vs. RANI - Volatility Comparison

The current volatility for Werewolf Therapeutics, Inc. (HOWL) is 27.05%, while Rani Therapeutics Holdings, Inc. (RANI) has a volatility of 34.34%. This indicates that HOWL experiences smaller price fluctuations and is considered to be less risky than RANI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HOWL	RANI	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.05%	34.34%	-7.29%
Volatility (6M) Calculated over the trailing 6-month period	79.78%	61.44%	+18.34%
Volatility (1Y) Calculated over the trailing 1-year period	96.70%	274.85%	-178.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	102.55%	155.95%	-53.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	102.28%	155.95%	-53.67%

Dividends

HOWL vs. RANI - Dividend Comparison

Neither HOWL nor RANI has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both HOWL and RANI in my portfolio?

HOWL and RANI 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, HOWL or RANI?

RANI has higher volatility (34.34%) compared to HOWL (27.05%). In terms of maximum drawdown, HOWL dropped -98.07% vs RANI's -98.83%.

Which has better risk-adjusted returns?

RANI currently has the higher Sharpe Ratio (0.21 vs -0.71), 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.