INCY vs. FFIV

Last updated Jun 13, 2026

INCY (Incyte Corporation) and FFIV (F5 Networks, Inc.) are both stocks. INCY operates in Biotechnology (Healthcare), while FFIV operates in Software - Infrastructure (Technology). Over the past 10 years, INCY returned 3.13%/yr vs 12.87%/yr for FFIV. At a 0.31 correlation, their price movements are largely independent.

Performance

INCY vs. FFIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Incyte Corporation (INCY) and F5 Networks, Inc. (FFIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INCY achieves a 9.88% return, which is significantly lower than FFIV's 55.20% return. Over the past 10 years, INCY has underperformed FFIV with an annualized return of 3.13%, while FFIV has yielded a comparatively higher 12.87% annualized return.

INCY

• 1D: 0.65%
• 1M: 9.83%
• YTD: 9.88%
• 6M: 13.75%
• 1Y: 56.79%
• 3Y*: 20.55%
• 5Y*: 5.62%
• 10Y*: 3.13%

FFIV

• 1D: 0.59%
• 1M: 10.84%
• YTD: 55.20%
• 6M: 50.82%
• 1Y: 35.83%
• 3Y*: 38.11%
• 5Y*: 15.50%
• 10Y*: 12.87%

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

INCY vs. FFIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
INCY Incyte Corporation	9.88%	43.00%	10.00%	-21.83%	9.43%	-15.61%	-0.39%	37.32%	-32.86%	-5.55%
FFIV F5 Networks, Inc.	55.20%	1.51%	40.50%	24.72%	-41.36%	39.09%	25.99%	-13.81%	23.48%	-9.33%

Correlation

The correlation between INCY and FFIV is 0.04, 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	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jun 4, 1999	0.31

Over the past year, the correlation between INCY and FFIV has dropped to 0.04 - well below their long-term average of 0.31, suggesting their price drivers have been diverging.

Fundamentals

Market Cap INCY : $22.45B FFIV : $22.70B
EPS INCY : $7.06 FFIV : $12.19
PE Ratio INCY : 15.38 FFIV : 32.50
PEG Ratio INCY : 0.02 FFIV : 1.42
PS Ratio INCY : 4.11 FFIV : 9.54
PB Ratio INCY : 3.99 FFIV : 6.22
Total Revenue (TTM) INCY : $5.36B FFIV : $2.41B
Gross Profit (TTM) INCY : $3.76B FFIV : $2.63B
EBITDA (TTM) INCY : $1.80B FFIV : $889.95M

Return for Risk

INCY vs. FFIV — Risk / Return Rank

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

INCY

INCY Risk / Return Rank: 84
INCY Sharpe Ratio Rank: 86
INCY Sortino Ratio Rank: 84
INCY Omega Ratio Rank: 82
INCY Calmar Ratio Rank: 85
INCY Martin Ratio Rank: 82

FFIV

FFIV Risk / Return Rank: 69
FFIV Sharpe Ratio Rank: 75
FFIV Sortino Ratio Rank: 69
FFIV Omega Ratio Rank: 70
FFIV Calmar Ratio Rank: 65
FFIV Martin Ratio Rank: 64

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.

INCY vs. FFIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Incyte Corporation (INCY) and F5 Networks, Inc. (FFIV). 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.

	INCY	FFIV	Difference
Sharpe ratio: Return per unit of total volatility	1.72	1.08	+0.65
Sortino ratio: Return per unit of downside risk	2.50	1.58	+0.92
Omega ratio: Gain probability vs. loss probability	1.31	1.21	+0.10
Calmar ratio: Return relative to maximum drawdown	3.11	1.04	+2.08
Martin ratio: Return relative to average drawdown	6.94	2.28	+4.66

INCY vs. FFIV - Sharpe Ratio Comparison

The current INCY Sharpe Ratio is 1.72, which is higher than the FFIV Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of INCY and FFIV, 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

INCY vs. FFIV - Drawdown Comparison

The maximum INCY drawdown since its inception was -98.54%, roughly equal to the maximum FFIV drawdown of -97.59%. Use the drawdown chart below to compare losses from any high point for INCY and FFIV.

Drawdown Indicators

	INCY	FFIV	Difference
Max Drawdown Largest peak-to-trough decline	-98.54%	-97.59%	-0.95%
Max Drawdown (1Y) Largest decline over 1 year	-18.33%	-34.73%	+16.40%
Max Drawdown (3Y) Largest decline over 3 years	-33.83%	-34.73%	+0.90%
Max Drawdown (5Y) Largest decline over 5 years	-41.06%	-47.42%	+6.36%
Max Drawdown (10Y) Largest decline over 10 years	-66.47%	-54.59%	-11.88%
Current Drawdown Current decline from peak	-28.91%	-3.17%	-25.74%
Average Drawdown Average peak-to-trough decline	-59.88%	-40.16%	-19.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.21%	15.77%	-7.56%

Volatility

INCY vs. FFIV - Volatility Comparison

Incyte Corporation (INCY) has a higher volatility of 9.64% compared to F5 Networks, Inc. (FFIV) at 8.89%. This indicates that INCY's price experiences larger fluctuations and is considered to be riskier than FFIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INCY	FFIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.64%	8.89%	+0.75%
Volatility (6M) Calculated over the trailing 6-month period	22.73%	24.72%	-1.99%
Volatility (1Y) Calculated over the trailing 1-year period	33.10%	33.48%	-0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.32%	29.97%	-0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.29%	29.56%	+4.73%

Dividends

INCY vs. FFIV - Dividend Comparison

Neither INCY nor FFIV has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both INCY and FFIV in my portfolio?

INCY and FFIV have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INCY or FFIV?

INCY has higher volatility (9.64%) compared to FFIV (8.89%). In terms of maximum drawdown, INCY dropped -98.54% vs FFIV's -97.59%.

Which has better risk-adjusted returns?

INCY currently has the higher Sharpe Ratio (1.72 vs 1.08), 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.