INDI vs. PLUG

Last updated Apr 1, 2026

Compare and contrast key facts about indie Semiconductor, Inc. (INDI) and Plug Power Inc. (PLUG).

Performance

INDI vs. PLUG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in indie Semiconductor, Inc. (INDI) and Plug Power Inc. (PLUG). The values are adjusted to include any dividend payments, if applicable.

INDI vs. PLUG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
INDI indie Semiconductor, Inc.	-8.78%	-12.84%	-50.06%	39.11%	-51.38%	10.30%
PLUG Plug Power Inc.	14.72%	-7.51%	-52.67%	-63.62%	-56.18%	-10.35%

Fundamentals

EPS INDI : -$0.00 PLUG : -$1.03
PS Ratio INDI : 986.08 PLUG : 2.42
Total Revenue (TTM) INDI : $217.39M PLUG : $709.92M
Gross Profit (TTM) INDI : $27.01M PLUG : $708.24M
EBITDA (TTM) INDI : -$107.79M PLUG : -$706.05M

Returns By Period

In the year-to-date period, INDI achieves a -8.78% return, which is significantly lower than PLUG's 14.72% return.

INDI

• 1D: 5.57%
• 1M: -12.02%
• YTD: -8.78%
• 6M: -20.88%
• 1Y: 58.23%
• 3Y*: -32.67%
• 5Y*: —
• 10Y*: —

PLUG

• 1D: 5.61%
• 1M: 26.26%
• YTD: 14.72%
• 6M: -3.00%
• 1Y: 67.41%
• 3Y*: -42.23%
• 5Y*: -42.27%
• 10Y*: 1.03%

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

Return for Risk

INDI vs. PLUG — Risk / Return Rank

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

INDI

INDI Risk / Return Rank: 65
INDI Sharpe Ratio Rank: 67
INDI Sortino Ratio Rank: 70
INDI Omega Ratio Rank: 65
INDI Calmar Ratio Rank: 61
INDI Martin Ratio Rank: 61

PLUG

PLUG Risk / Return Rank: 67
PLUG Sharpe Ratio Rank: 64
PLUG Sortino Ratio Rank: 76
PLUG Omega Ratio Rank: 67
PLUG Calmar Ratio Rank: 68
PLUG Martin Ratio Rank: 61

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.

INDI vs. PLUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for indie Semiconductor, Inc. (INDI) and Plug Power Inc. (PLUG). 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.

	INDI	PLUG	Difference
Sharpe ratio Return per unit of total volatility	0.69	0.59	+0.10
Sortino ratio Return per unit of downside risk	1.59	1.85	-0.26
Omega ratio Gain probability vs. loss probability	1.18	1.19	-0.01
Calmar ratio Return relative to maximum drawdown	0.89	1.21	-0.33
Martin ratio Return relative to average drawdown	1.97	1.97	0.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INDI vs. PLUG - Sharpe Ratio Comparison

The current INDI Sharpe Ratio is 0.69, which is comparable to the PLUG Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of INDI and PLUG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	INDI	PLUG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.69	0.59	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.45	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.01	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.28	-0.15	-0.13

Correlation

The correlation between INDI and PLUG is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

INDI vs. PLUG - Dividend Comparison

Neither INDI nor PLUG has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

INDI vs. PLUG - Drawdown Comparison

The maximum INDI drawdown since its inception was -89.91%, smaller than the maximum PLUG drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for INDI and PLUG.

Drawdown Indicators

	INDI	PLUG	Difference
Max Drawdown Largest peak-to-trough decline	-89.91%	-99.99%	+10.08%
Max Drawdown (1Y) Largest decline over 1 year	-59.33%	-56.66%	-2.67%
Max Drawdown (5Y) Largest decline over 5 years	—	-98.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.04%	—
Current Drawdown Current decline from peak	-79.68%	-99.85%	+20.17%
Average Drawdown Average peak-to-trough decline	-56.11%	-96.20%	+40.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.70%	34.79%	-8.09%

Volatility

INDI vs. PLUG - Volatility Comparison

indie Semiconductor, Inc. (INDI) and Plug Power Inc. (PLUG) have volatilities of 28.79% and 29.77%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INDI	PLUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.79%	29.77%	-0.98%
Volatility (6M) Calculated over the trailing 6-month period	56.82%	72.75%	-15.93%
Volatility (1Y) Calculated over the trailing 1-year period	84.94%	115.40%	-30.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	78.95%	94.13%	-15.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.95%	88.56%	-9.61%

Financials