LQDA vs. APLD
LQDA (Liquidia Corporation) and APLD (Applied Digital Corporation) are both stocks. LQDA operates in Biotechnology (Healthcare), while APLD operates in Information Technology Services (Technology). Over the past 5 years, LQDA returned 87.74%/yr vs 111.39%/yr for APLD. At a 0.14 correlation, their price movements are largely independent.
Performance
LQDA vs. APLD - Performance Comparison
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Returns By Period
In the year-to-date period, LQDA achieves a 85.27% return, which is significantly higher than APLD's 66.99% return.
LQDA
- 1D
- 3.31%
- 1M
- 51.06%
- YTD
- 85.27%
- 6M
- 82.52%
- 1Y
- 252.26%
- 3Y*
- 96.59%
- 5Y*
- 87.74%
- 10Y*
- —
APLD
- 1D
- 3.34%
- 1M
- -0.74%
- YTD
- 66.99%
- 6M
- 27.51%
- 1Y
- 195.42%
- 3Y*
- 72.37%
- 5Y*
- 111.39%
- 10Y*
- 120.60%
LQDA vs. APLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
LQDA Liquidia Corporation | 85.27% | 193.28% | -2.24% | 88.85% | 30.80% | 65.08% | -30.99% | -80.26% | 95.14% |
APLD Applied Digital Corporation | 66.99% | 220.94% | 13.35% | 266.30% | -56.09% | 11,789.90% | 389.44% | -34.55% | 3.48% |
Correlation
The correlation between LQDA and APLD is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2018 | 0.14 |
Fundamentals
LQDA:
$6.46B
APLD:
$11.12B
LQDA:
$0.24
APLD:
-$0.72
LQDA:
20.69
APLD:
27.75
LQDA:
59.51
APLD:
7.06
LQDA:
$288.07M
APLD:
$390.57M
LQDA:
$275.77M
APLD:
$124.93M
LQDA:
$51.53M
APLD:
-$154.66M
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Return for Risk
LQDA vs. APLD — Risk / Return Rank
LQDA
APLD
LQDA vs. APLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Liquidia Corporation (LQDA) and Applied Digital Corporation (APLD). 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.
| LQDA | APLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.30 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 7.12 | 3.91 | +3.21 |
| Martin ratioReturn relative to average drawdown | 15.88 | 9.14 | +6.74 |
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
| LQDA | APLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.74 | 1.84 | +1.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.20 | 0.68 | +0.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.54 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.08 | +0.21 |
Drawdowns
LQDA vs. APLD - Drawdown Comparison
The maximum LQDA drawdown since its inception was -93.87%, smaller than the maximum APLD drawdown of -99.70%. Use the drawdown chart below to compare losses from any high point for LQDA and APLD.
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Drawdown Indicators
| LQDA | APLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.87% | -99.70% | +5.83% |
Max Drawdown (1Y)Largest decline over 1 year | -35.66% | -50.31% | +14.65% |
Max Drawdown (3Y)Largest decline over 3 years | -46.80% | -76.66% | +29.86% |
Max Drawdown (5Y)Largest decline over 5 years | -55.36% | -82.61% | +27.25% |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.80% | — |
Current DrawdownCurrent decline from peak | 0.00% | -17.53% | +17.53% |
Average DrawdownAverage peak-to-trough decline | -69.65% | -74.49% | +4.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.05% | 22.15% | -6.10% |
Volatility
LQDA vs. APLD - Volatility Comparison
The current volatility for Liquidia Corporation (LQDA) is 28.47%, while Applied Digital Corporation (APLD) has a volatility of 32.64%. This indicates that LQDA experiences smaller price fluctuations and is considered to be less risky than APLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQDA | APLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 28.47% | 32.64% | -4.17% |
Volatility (6M)Calculated over the trailing 6-month period | 47.97% | 80.09% | -32.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.06% | 107.26% | -39.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.62% | 165.20% | -91.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 85.75% | 301.59% | -215.84% |
Dividends
LQDA vs. APLD - Dividend Comparison
Neither LQDA nor APLD has paid dividends to shareholders.
Financials
LQDA vs. APLD - Financials Comparison
This section allows you to compare key financial metrics between Liquidia Corporation and Applied Digital Corporation. 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
LQDA vs. APLD - Profitability Comparison
LQDA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Liquidia Corporation reported a gross profit of 132.09M and revenue of 132.87M. Therefore, the gross margin over that period was 99.4%.
APLD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Applied Digital Corporation reported a gross profit of 82.52M and revenue of 161.76M. Therefore, the gross margin over that period was 51.0%.
LQDA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Liquidia Corporation reported an operating income of 61.50M and revenue of 132.87M, resulting in an operating margin of 46.3%.
APLD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Applied Digital Corporation reported an operating income of -62.13M and revenue of 161.76M, resulting in an operating margin of -38.4%.
LQDA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Liquidia Corporation reported a net income of 52.86M and revenue of 132.87M, resulting in a net margin of 39.8%.
APLD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Applied Digital Corporation reported a net income of -104.11M and revenue of 161.76M, resulting in a net margin of -64.4%.
Frequently Asked Questions
LQDA and APLD have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APLD has higher volatility (32.64%) compared to LQDA (28.47%). In terms of maximum drawdown, LQDA dropped -93.87% vs APLD's -99.70%.
LQDA currently has the higher Sharpe Ratio (3.74 vs 1.84), 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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