NGS vs. APP

Last updated Jun 3, 2026

NGS (Natural Gas Services Group, Inc.) and APP (AppLovin Corporation) are both stocks. NGS operates in Oil & Gas Equipment & Services (Energy), while APP operates in Software - Application (Technology). Over the past 5 years, NGS returned 30.41%/yr vs 53.76%/yr for APP. At a 0.11 correlation, their price movements are largely independent.

Performance

NGS vs. APP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Natural Gas Services Group, Inc. (NGS) and AppLovin Corporation (APP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NGS achieves a 22.36% return, which is significantly higher than APP's -10.12% return.

NGS

• 1D: 3.70%
• 1M: -0.58%
• YTD: 22.36%
• 6M: 34.25%
• 1Y: 72.96%
• 3Y*: 59.74%
• 5Y*: 30.41%
• 10Y*: 7.21%

APP

• 1D: -1.31%
• 1M: 31.66%
• YTD: -10.12%
• 6M: -7.25%
• 1Y: 50.69%
• 3Y*: 190.09%
• 5Y*: 53.76%
• 10Y*: —

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

NGS vs. APP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NGS Natural Gas Services Group, Inc.	22.36%	26.53%	66.67%	40.31%	9.46%	15.05%
APP AppLovin Corporation	-10.12%	108.08%	712.62%	278.44%	-88.83%	44.57%

Correlation

The correlation between NGS and APP is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (All Time) Calculated using the full available price history since Apr 16, 2021	0.11

Fundamentals

Market Cap NGS : $521.44M APP : $205.14B
EPS NGS : $1.72 APP : $11.64
PE Ratio NGS : 23.77 APP : 52.03
PEG Ratio NGS : 0.12 APP : 0.16
PS Ratio NGS : 2.89 APP : 33.45
PB Ratio NGS : 1.86 APP : 86.80
Total Revenue (TTM) NGS : $179.40M APP : $6.16B
Gross Profit (TTM) NGS : $87.76M APP : $5.45B
EBITDA (TTM) NGS : $69.86M APP : $4.87B

Return for Risk

NGS vs. APP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NGS

NGS Risk / Return Rank: 88
NGS Sharpe Ratio Rank: 89
NGS Sortino Ratio Rank: 84
NGS Omega Ratio Rank: 84
NGS Calmar Ratio Rank: 91
NGS Martin Ratio Rank: 92

APP

APP Risk / Return Rank: 62
APP Sharpe Ratio Rank: 64
APP Sortino Ratio Rank: 61
APP Omega Ratio Rank: 61
APP Calmar Ratio Rank: 62
APP Martin Ratio Rank: 61

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.

NGS vs. APP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Natural Gas Services Group, Inc. (NGS) and AppLovin Corporation (APP). 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.

	NGS	APP	Difference
Sharpe ratio Return per unit of total volatility	2.24	0.72	+1.52
Sortino ratio Return per unit of downside risk	2.70	1.31	+1.40
Omega ratio Gain probability vs. loss probability	1.36	1.18	+0.18
Calmar ratio Return relative to maximum drawdown	4.87	1.08	+3.79
Martin ratio Return relative to average drawdown	14.52	2.15	+12.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NGS vs. APP - Sharpe Ratio Comparison

The current NGS Sharpe Ratio is 2.24, which is higher than the APP Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of NGS and APP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NGS	APP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	0.72	+1.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.70	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.71	-0.51

Drawdowns

NGS vs. APP - Drawdown Comparison

The maximum NGS drawdown since its inception was -89.59%, roughly equal to the maximum APP drawdown of -91.90%. Use the drawdown chart below to compare losses from any high point for NGS and APP.

Drawdown Indicators

	NGS	APP	Difference
Max Drawdown Largest peak-to-trough decline	-89.59%	-91.90%	+2.31%
Max Drawdown (1Y) Largest decline over 1 year	-15.00%	-49.99%	+34.99%
Max Drawdown (3Y) Largest decline over 3 years	-40.89%	-57.00%	+16.11%
Max Drawdown (5Y) Largest decline over 5 years	-40.89%	-91.90%	+51.01%
Max Drawdown (10Y) Largest decline over 10 years	-87.91%	—	—
Current Drawdown Current decline from peak	-6.12%	-17.44%	+11.32%
Average Drawdown Average peak-to-trough decline	-47.49%	-42.52%	-4.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.04%	25.13%	-20.09%

Volatility

NGS vs. APP - Volatility Comparison

The current volatility for Natural Gas Services Group, Inc. (NGS) is 11.89%, while AppLovin Corporation (APP) has a volatility of 19.94%. This indicates that NGS experiences smaller price fluctuations and is considered to be less risky than APP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NGS	APP	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.89%	19.94%	-8.05%
Volatility (6M) Calculated over the trailing 6-month period	22.26%	58.33%	-36.07%
Volatility (1Y) Calculated over the trailing 1-year period	32.74%	70.60%	-37.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.04%	77.73%	-33.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.25%	77.53%	-31.28%

Dividends

NGS vs. APP - Dividend Comparison

NGS's dividend yield for the trailing twelve months is around 1.15%, while APP has not paid dividends to shareholders.

Position	TTM	2025
APP AppLovin Corporation	0.00%	0.00%
NGS Natural Gas Services Group, Inc.	1.15%	0.62%

Financials

NGS vs. APP - Profitability Comparison

The chart below illustrates the profitability comparison between Natural Gas Services Group, Inc. and AppLovin Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

NGS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Natural Gas Services Group, Inc. reported a gross profit of 30.25M and revenue of 48.47M. Therefore, the gross margin over that period was 62.4%.

APP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, AppLovin Corporation reported a gross profit of 1.64B and revenue of 1.84B. Therefore, the gross margin over that period was 89.0%.

NGS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Natural Gas Services Group, Inc. reported an operating income of 13.07M and revenue of 48.47M, resulting in an operating margin of 27.0%.

APP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, AppLovin Corporation reported an operating income of 1.44B and revenue of 1.84B, resulting in an operating margin of 78.2%.

NGS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Natural Gas Services Group, Inc. reported a net income of 6.76M and revenue of 48.47M, resulting in a net margin of 14.0%.

APP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, AppLovin Corporation reported a net income of 1.21B and revenue of 1.84B, resulting in a net margin of 65.4%.

Frequently Asked Questions

Can I hold both NGS and APP in my portfolio?

NGS and APP have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NGS or APP?

APP has higher volatility (19.94%) compared to NGS (11.89%). In terms of maximum drawdown, NGS dropped -89.59% vs APP's -91.90%.

Which has better risk-adjusted returns?

NGS currently has the higher Sharpe Ratio (2.24 vs 0.72), 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.