KALV vs. AAOI

Last updated Aug 1, 2026

KALV (KalVista Pharmaceuticals, Inc.) and AAOI (Applied Optoelectronics, Inc.) are both stocks. KALV operates in Biotechnology (Healthcare), while AAOI operates in Communication Equipment (Technology). Their 0.17 correlation means their historical movements had little consistent relationship.

Performance

KALV vs. AAOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KalVista Pharmaceuticals, Inc. (KALV) and Applied Optoelectronics, Inc. (AAOI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KALV

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

AAOI

• 1D: 4.67%
• 1M: -22.02%
• 6M: 116.28%
• YTD: 170.57%
• 1Y: 338.09%
• 3Y*: 137.62%
• 5Y*: 64.92%
• 10Y*: 23.27%
• ALL TIME*: 19.09%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AAOI Applied Optoelectronics, Inc.	$850.42M	$964.89M	$1.83B

KALV vs. AAOI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KALV KalVista Pharmaceuticals, Inc.	67.18%	90.67%	-30.86%	81.21%	-48.90%	-30.33%	6.63%	-9.82%	102.56%	37.91%
AAOI Applied Optoelectronics, Inc.	170.57%	-5.43%	90.79%	922.22%	-63.23%	-39.60%	-28.37%	-23.01%	-59.20%	61.35%

Correlation

The correlation between KALV and AAOI is 0.20, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.20
Correlation (3Y) Balances recent behavior with more history.	0.19
Correlation (5Y) Shows whether the relationship held over a longer period.	0.21
Correlation (10Y) Provides a long-term view across more market conditions.	0.18
Correlation (All Time) Calculated using the full available price history since Apr 9, 2015	0.17

Fundamentals

Market Cap KALV : $1.36B AAOI : $7.57B
EPS KALV : -$3.18 AAOI : -$0.62
PS Ratio KALV : 18.94 AAOI : 13.00
Total Revenue (TTM) KALV : $73.62M AAOI : $507.00M
Gross Profit (TTM) KALV : $67.54M AAOI : $150.29M
EBITDA (TTM) KALV : -$170.39M AAOI : -$26.44M

Return for Risk

KALV vs. AAOI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KALV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

AAOI

AAOI Risk / Return Rank: 93
AAOI Sharpe Ratio Rank: 94
AAOI Sortino Ratio Rank: 92
AAOI Omega Ratio Rank: 88
AAOI Calmar Ratio Rank: 95
AAOI Martin Ratio Rank: 95

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

KALV vs. AAOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KalVista Pharmaceuticals, Inc. (KALV) and Applied Optoelectronics, Inc. (AAOI). 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.

	KALV	AAOI	Difference
Sharpe ratio: Return per unit of total volatility	—	2.19	—
Sortino ratio: Return per unit of downside risk	—	2.95	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	4.79	—
Martin ratio: Return relative to average drawdown	—	13.86	—

Drawdowns

Drawdown Indicators

	KALV	AAOI	Difference
Max Drawdown Largest peak-to-trough decline	—	-98.49%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-65.70%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-77.17%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-82.64%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-98.49%	—
Current Drawdown Current decline from peak	—	-57.72%	—
Average Drawdown Average peak-to-trough decline	—	-65.45%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	22.67%	—

Volatility

Volatility by Period

	KALV	AAOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	42.02%	—
Volatility (6M) Calculated over the trailing 6-month period	—	111.21%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	143.64%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	121.27%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	99.35%	—

Dividends

KALV vs. AAOI - Dividend Comparison

Neither KALV nor AAOI has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

KALV vs. AAOI - Profitability Comparison

The chart below illustrates the profitability comparison between KalVista Pharmaceuticals, Inc. and Applied Optoelectronics, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

KALV - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, KalVista Pharmaceuticals, Inc. reported a gross profit of 54.15M and revenue of 59.93M. Therefore, the gross margin over that period was 90.4%.

AAOI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Applied Optoelectronics, Inc. reported a gross profit of 43.92M and revenue of 151.14M. Therefore, the gross margin over that period was 29.1%.

KALV - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, KalVista Pharmaceuticals, Inc. reported an operating income of -13.31M and revenue of 59.93M, resulting in an operating margin of -22.2%.

AAOI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Applied Optoelectronics, Inc. reported an operating income of -12.99M and revenue of 151.14M, resulting in an operating margin of -8.6%.

KALV - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, KalVista Pharmaceuticals, Inc. reported a net income of -5.37M and revenue of 59.93M, resulting in a net margin of -9.0%.

AAOI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Applied Optoelectronics, Inc. reported a net income of -14.28M and revenue of 151.14M, resulting in a net margin of -9.5%.

Frequently Asked Questions

Can I hold both KALV and AAOI in my portfolio?

KALV and AAOI have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.