INOD vs. SHOP
INOD (Innodata Inc.) and SHOP (Shopify Inc.) are both stocks. Both are in the Technology sector — INOD in Information Technology Services, SHOP in Software - Application. Over the past 10 years, INOD returned 45.64%/yr vs 43.59%/yr for SHOP. At a 0.24 correlation, their price movements are largely independent.
Performance
INOD vs. SHOP - Performance Comparison
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Returns By Period
In the year-to-date period, INOD achieves a 98.04% return, which is significantly higher than SHOP's -32.76% return. Both investments have delivered pretty close results over the past 10 years, with INOD having a 45.64% annualized return and SHOP not far behind at 43.59%.
INOD
- 1D
- -4.23%
- 1M
- 12.17%
- YTD
- 98.04%
- 6M
- 92.56%
- 1Y
- 137.86%
- 3Y*
- 114.32%
- 5Y*
- 69.37%
- 10Y*
- 45.64%
SHOP
- 1D
- -2.02%
- 1M
- 13.46%
- YTD
- -32.76%
- 6M
- -34.08%
- 1Y
- -0.89%
- 3Y*
- 19.24%
- 5Y*
- -2.79%
- 10Y*
- 43.59%
INOD vs. SHOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INOD Innodata Inc. | 98.04% | 28.92% | 385.50% | 174.54% | -49.92% | 11.70% | 364.91% | -24.00% | 10.29% | -44.49% |
SHOP Shopify Inc. | -32.76% | 51.39% | 36.50% | 124.43% | -74.80% | 21.68% | 184.71% | 187.17% | 37.08% | 135.60% |
Correlation
The correlation between INOD and SHOP is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since May 21, 2015 | 0.25 |
Over the past year, INOD and SHOP have become more correlated (0.46) than their long-term average of 0.24, meaning their price movements have been converging.
Fundamentals
INOD:
$3.59B
SHOP:
$141.08B
INOD:
$1.11
SHOP:
$1.02
INOD:
90.91
SHOP:
106.25
INOD:
0.02
SHOP:
0.20
INOD:
12.60
SHOP:
15.39
INOD:
28.00
SHOP:
11.29
INOD:
$283.42M
SHOP:
$9.20B
INOD:
$76.88M
SHOP:
$5.93B
INOD:
$37.35M
SHOP:
$1.60B
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Return for Risk
INOD vs. SHOP — Risk / Return Rank
INOD
SHOP
INOD vs. SHOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innodata Inc. (INOD) and Shopify Inc. (SHOP). 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.
| INOD | SHOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.15 | ||
| Sortino ratioReturn per unit of downside risk | +2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.05 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | -0.02 | +2.22 |
| Martin ratioReturn relative to average drawdown | 3.97 | -0.04 | +4.01 |
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Drawdowns
INOD vs. SHOP - Drawdown Comparison
The maximum INOD drawdown since its inception was -95.47%, which is greater than SHOP's maximum drawdown of -84.82%. Use the drawdown chart below to compare losses from any high point for INOD and SHOP.
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Drawdown Indicators
| INOD | SHOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.47% | -84.82% | -10.65% |
Max Drawdown (1Y)Largest decline over 1 year | -63.03% | -46.71% | -16.32% |
Max Drawdown (3Y)Largest decline over 3 years | -63.03% | -46.71% | -16.32% |
Max Drawdown (5Y)Largest decline over 5 years | -74.44% | -84.82% | +10.38% |
Max Drawdown (10Y)Largest decline over 10 years | -74.44% | -84.82% | +10.38% |
Current DrawdownCurrent decline from peak | -16.95% | -39.53% | +22.58% |
Average DrawdownAverage peak-to-trough decline | -60.07% | -28.23% | -31.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.83% | 22.27% | +12.56% |
Volatility
INOD vs. SHOP - Volatility Comparison
Innodata Inc. (INOD) has a higher volatility of 32.31% compared to Shopify Inc. (SHOP) at 15.38%. This indicates that INOD's price experiences larger fluctuations and is considered to be riskier than SHOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INOD | SHOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 32.31% | 15.38% | +16.93% |
Volatility (6M)Calculated over the trailing 6-month period | 89.40% | 43.41% | +45.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 122.08% | 57.03% | +65.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 106.74% | 65.55% | +41.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.36% | 59.07% | +30.29% |
Dividends
INOD vs. SHOP - Dividend Comparison
Neither INOD nor SHOP has paid dividends to shareholders.
Financials
INOD vs. SHOP - Financials Comparison
This section allows you to compare key financial metrics between Innodata Inc. and Shopify 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
Frequently Asked Questions
INOD and SHOP have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INOD has higher volatility (32.31%) compared to SHOP (15.38%). In terms of maximum drawdown, INOD dropped -95.47% vs SHOP's -84.82%.
INOD currently has the higher Sharpe Ratio (1.14 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.
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