KALV vs. LASR

Last updated Jul 14, 2026

KALV (KalVista Pharmaceuticals, Inc.) and LASR (nLIGHT, Inc.) are both stocks. KALV operates in Biotechnology (Healthcare), while LASR operates in Semiconductors (Technology). At a 0.22 correlation, their price movements are largely independent.

Performance

KALV vs. LASR - Performance Comparison

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

Returns By Period

KALV

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

LASR

• 1D: -4.52%
• 1M: -1.25%
• 6M: 65.48%
• YTD: 83.39%
• 1Y: 276.31%
• 3Y*: 66.92%
• 5Y*: 16.34%
• 10Y*: —

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

KALV vs. LASR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
KALV KalVista Pharmaceuticals, Inc.	67.18%	90.67%	-30.86%	81.21%	-48.90%	-30.33%	6.63%	-9.82%	122.91%
LASR nLIGHT, Inc.	83.39%	257.58%	-22.30%	33.14%	-57.66%	-26.65%	61.00%	14.06%	-22.70%

Correlation

The correlation between KALV and LASR is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (All Time) Calculated using the full available price history since Apr 26, 2018	0.22

The correlation between KALV and LASR shifts across timeframes, from 0.12 (1 year) to 0.28 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap KALV : $1.36B LASR : $3.88B
EPS KALV : -$3.18 LASR : -$0.28
PS Ratio KALV : 18.94 LASR : 12.70
Total Revenue (TTM) KALV : $73.62M LASR : $289.84M
Gross Profit (TTM) KALV : $67.54M LASR : $90.68M
EBITDA (TTM) KALV : -$170.39M LASR : -$3.27M

Return for Risk

KALV vs. LASR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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.

LASR

LASR Risk / Return Rank: 96
LASR Sharpe Ratio Rank: 97
LASR Sortino Ratio Rank: 94
LASR Omega Ratio Rank: 93
LASR Calmar Ratio Rank: 98
LASR Martin Ratio Rank: 98

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.

KALV vs. LASR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KalVista Pharmaceuticals, Inc. (KALV) and nLIGHT, Inc. (LASR). 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	LASR	Difference
Sharpe ratio: Return per unit of total volatility	—	3.31	—
Sortino ratio: Return per unit of downside risk	—	3.42	—
Omega ratio: Gain probability vs. loss probability	—	1.42	—
Calmar ratio: Return relative to maximum drawdown	—	9.00	—
Martin ratio: Return relative to average drawdown	—	27.71	—

Drawdowns

Drawdown Indicators

	KALV	LASR	Difference
Max Drawdown Largest peak-to-trough decline	—	-85.66%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-30.92%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-57.29%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-81.47%	—
Current Drawdown Current decline from peak	—	-19.02%	—
Average Drawdown Average peak-to-trough decline	—	-52.38%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.02%	—

Volatility

Volatility by Period

	KALV	LASR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	33.08%	—
Volatility (6M) Calculated over the trailing 6-month period	—	67.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	84.26%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	66.77%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	67.33%	—

Dividends

KALV vs. LASR - Dividend Comparison

Neither KALV nor LASR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

KALV vs. LASR - Profitability Comparison

The chart below illustrates the profitability comparison between KalVista Pharmaceuticals, Inc. and nLIGHT, 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 Jul 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%.

LASR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, nLIGHT, Inc. reported a gross profit of 26.51M and revenue of 80.18M. Therefore, the gross margin over that period was 33.1%.

KALV - Operating Margin

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

LASR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, nLIGHT, Inc. reported an operating income of -719.00K and revenue of 80.18M, resulting in an operating margin of -0.9%.

KALV - Net Margin

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

LASR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, nLIGHT, Inc. reported a net income of 645.00K and revenue of 80.18M, resulting in a net margin of 0.8%.

Frequently Asked Questions

Can I hold both KALV and LASR in my portfolio?

KALV and LASR have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.