MARA vs. PAA
MARA (MARA Holdings, Inc.) and PAA (Plains All American Pipeline, L.P.) are both stocks. MARA operates in Capital Markets (Financial Services), while PAA operates in Oil & Gas Midstream (Energy). Over the past 10 years, MARA returned -10.09%/yr vs 5.97%/yr for PAA. At a 0.17 correlation, their price movements are largely independent.
Performance
MARA vs. PAA - Performance Comparison
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Returns By Period
In the year-to-date period, MARA achieves a 56.79% return, which is significantly higher than PAA's 30.01% return. Over the past 10 years, MARA has underperformed PAA with an annualized return of -10.09%, while PAA has yielded a comparatively higher 5.97% annualized return.
MARA
- 1D
- 3.45%
- 1M
- 10.43%
- YTD
- 56.79%
- 6M
- 22.22%
- 1Y
- -11.00%
- 3Y*
- 13.30%
- 5Y*
- -11.91%
- 10Y*
- -10.09%
PAA
- 1D
- -0.18%
- 1M
- 2.51%
- YTD
- 30.01%
- 6M
- 31.47%
- 1Y
- 36.35%
- 3Y*
- 28.99%
- 5Y*
- 22.23%
- 10Y*
- 5.97%
MARA vs. PAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MARA MARA Holdings, Inc. | 56.79% | -46.45% | -28.61% | 586.84% | -89.59% | 214.75% | 1,084.48% | -39.16% | -91.17% | -40.41% |
PAA Plains All American Pipeline, L.P. | 30.01% | 14.30% | 21.38% | 39.18% | 35.79% | 22.24% | -50.79% | -2.28% | 2.31% | -31.34% |
Correlation
The correlation between MARA and PAA is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since May 4, 2012 | 0.17 |
The correlation between MARA and PAA shifts across timeframes, from 0.05 (1 year) to 0.22 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
MARA:
$5.35B
PAA:
$15.84B
MARA:
-$4.95
PAA:
$2.19
MARA:
6.68
PAA:
0.35
MARA:
$867.82M
PAA:
$45.25B
MARA:
$164.95M
PAA:
$1.55B
MARA:
$373.68M
PAA:
$2.54B
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Return for Risk
MARA vs. PAA — Risk / Return Rank
MARA
PAA
MARA vs. PAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MARA Holdings, Inc. (MARA) and Plains All American Pipeline, L.P. (PAA). 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.
| MARA | PAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.12 | ||
| Sortino ratioReturn per unit of downside risk | -2.37 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.33 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | 2.51 | -2.67 |
| Martin ratioReturn relative to average drawdown | -0.26 | 7.17 | -7.43 |
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Drawdowns
MARA vs. PAA - Drawdown Comparison
The maximum MARA drawdown since its inception was -99.74%, which is greater than PAA's maximum drawdown of -91.99%. Use the drawdown chart below to compare losses from any high point for MARA and PAA.
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Drawdown Indicators
| MARA | PAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.74% | -91.99% | -7.75% |
Max Drawdown (1Y)Largest decline over 1 year | -70.53% | -14.53% | -56.00% |
Max Drawdown (3Y)Largest decline over 3 years | -78.34% | -22.26% | -56.08% |
Max Drawdown (5Y)Largest decline over 5 years | -95.87% | -26.11% | -69.76% |
Max Drawdown (10Y)Largest decline over 10 years | -99.20% | -87.92% | -11.28% |
Current DrawdownCurrent decline from peak | -90.90% | -10.03% | -80.87% |
Average DrawdownAverage peak-to-trough decline | -78.00% | -25.75% | -52.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.56% | 5.08% | +37.48% |
Volatility
MARA vs. PAA - Volatility Comparison
MARA Holdings, Inc. (MARA) has a higher volatility of 23.71% compared to Plains All American Pipeline, L.P. (PAA) at 7.32%. This indicates that MARA's price experiences larger fluctuations and is considered to be riskier than PAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MARA | PAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.71% | 7.32% | +16.39% |
Volatility (6M)Calculated over the trailing 6-month period | 60.50% | 14.09% | +46.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 79.29% | 18.47% | +60.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 105.98% | 26.81% | +79.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 144.15% | 41.82% | +102.33% |
Dividends
MARA vs. PAA - Dividend Comparison
MARA has not paid dividends to shareholders, while PAA's dividend yield for the trailing twelve months is around 7.11%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MARA MARA Holdings, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PAA Plains All American Pipeline, L.P. | 7.11% | 8.46% | 7.44% | 7.06% | 7.08% | 7.71% | 10.92% | 7.50% | 5.99% | 9.45% | 8.21% | 11.93% |
Financials
MARA vs. PAA - Financials Comparison
This section allows you to compare key financial metrics between MARA Holdings, Inc. and Plains All American Pipeline, L.P.. 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
MARA and PAA have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MARA has higher volatility (23.71%) compared to PAA (7.32%). In terms of maximum drawdown, MARA dropped -99.74% vs PAA's -91.99%.
PAA currently has the higher Sharpe Ratio (1.98 vs -0.14), 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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