KALV vs. LASR
KALV (KalVista Pharmaceuticals, Inc.) and LASR (nLIGHT, Inc.) are both stocks. KALV operates in Biotechnology (Healthcare), while LASR operates in Semiconductors (Technology). Over the past 5 years, KALV returned 0.39%/yr vs 21.84%/yr for LASR. At a 0.22 correlation, their price movements are largely independent.
Performance
KALV vs. LASR - Performance Comparison
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Returns By Period
In the year-to-date period, KALV achieves a 66.87% return, which is significantly lower than LASR's 103.65% return.
KALV
- 1D
- 0.04%
- 1M
- 1.09%
- YTD
- 66.87%
- 6M
- 83.83%
- 1Y
- 101.87%
- 3Y*
- 39.16%
- 5Y*
- 0.39%
- 10Y*
- 3.38%
LASR
- 1D
- 0.04%
- 1M
- 10.06%
- YTD
- 103.65%
- 6M
- 123.89%
- 1Y
- 366.93%
- 3Y*
- 74.69%
- 5Y*
- 21.84%
- 10Y*
- —
KALV vs. LASR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
KALV KalVista Pharmaceuticals, Inc. | 66.87% | 90.67% | -30.86% | 81.21% | -48.90% | -30.33% | 6.63% | -9.82% | 120.92% |
LASR nLIGHT, Inc. | 103.65% | 257.58% | -22.30% | 33.14% | -57.66% | -26.65% | 61.00% | 14.06% | -34.03% |
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 27, 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
KALV:
$1.36B
LASR:
$4.58B
KALV:
-$3.18
LASR:
-$0.28
KALV:
18.91
LASR:
13.85
KALV:
$73.62M
LASR:
$289.84M
KALV:
$67.54M
LASR:
$90.68M
KALV:
-$170.39M
LASR:
-$3.27M
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Return for Risk
KALV vs. LASR — Risk / Return Rank
KALV
LASR
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.
| KALV | LASR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.40 | ||
| Sortino ratioReturn per unit of downside risk | -1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.52 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.12 | 14.95 | -11.82 |
| Martin ratioReturn relative to average drawdown | 6.95 | 52.43 | -45.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KALV | LASR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.42 | 4.82 | -3.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 0.34 | -0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.04 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.11 | 0.21 | -0.32 |
Drawdowns
KALV vs. LASR - Drawdown Comparison
The maximum KALV drawdown since its inception was -96.68%, which is greater than LASR's maximum drawdown of -85.66%. Use the drawdown chart below to compare losses from any high point for KALV and LASR.
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Drawdown Indicators
| KALV | LASR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.68% | -85.66% | -11.02% |
Max Drawdown (1Y)Largest decline over 1 year | -32.79% | -24.74% | -8.05% |
Max Drawdown (3Y)Largest decline over 3 years | -53.87% | -59.01% | +5.14% |
Max Drawdown (5Y)Largest decline over 5 years | -85.96% | -82.47% | -3.49% |
Max Drawdown (10Y)Largest decline over 10 years | -90.13% | — | — |
Current DrawdownCurrent decline from peak | -78.71% | -10.08% | -68.63% |
Average DrawdownAverage peak-to-trough decline | -85.82% | -52.79% | -33.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.71% | 7.04% | +7.67% |
Volatility
KALV vs. LASR - Volatility Comparison
The current volatility for KalVista Pharmaceuticals, Inc. (KALV) is 0.64%, while nLIGHT, Inc. (LASR) has a volatility of 28.10%. This indicates that KALV experiences smaller price fluctuations and is considered to be less risky than LASR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KALV | LASR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 28.10% | -27.46% |
Volatility (6M)Calculated over the trailing 6-month period | 50.76% | 58.60% | -7.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.21% | 76.78% | -4.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.49% | 64.92% | +1.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.82% | 66.22% | +13.60% |
Dividends
KALV vs. LASR - Dividend Comparison
Neither KALV nor LASR has paid dividends to shareholders.
Financials
KALV vs. LASR - Financials Comparison
This section allows you to compare key financial metrics between KalVista Pharmaceuticals, Inc. and nLIGHT, 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
KALV vs. LASR - Profitability Comparison
KALV - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 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 Jun 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 Jun 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 Jun 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 Jun 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 Jun 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
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.
LASR has higher volatility (28.10%) compared to KALV (0.64%). In terms of maximum drawdown, KALV dropped -96.68% vs LASR's -85.66%.
LASR currently has the higher Sharpe Ratio (4.82 vs 1.42), 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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