OLMA vs. APP

Last updated Jun 3, 2026

OLMA (Olema Pharmaceuticals, Inc.) and APP (AppLovin Corporation) are both stocks. OLMA operates in Biotechnology (Healthcare), while APP operates in Software - Application (Technology). Over the past 5 years, OLMA returned -17.30%/yr vs 53.76%/yr for APP. At a 0.22 correlation, their price movements are largely independent.

Performance

OLMA vs. APP - Performance Comparison

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

Returns By Period

In the year-to-date period, OLMA achieves a -57.24% return, which is significantly lower than APP's -10.12% return.

OLMA

• 1D: -15.89%
• 1M: -25.35%
• YTD: -57.24%
• 6M: -60.63%
• 1Y: 144.34%
• 3Y*: 23.54%
• 5Y*: -17.30%
• 10Y*: —

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)

OLMA vs. APP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
OLMA Olema Pharmaceuticals, Inc.	-57.24%	328.82%	-58.45%	472.65%	-73.82%	-73.54%
APP AppLovin Corporation	-10.12%	108.08%	712.62%	278.44%	-88.83%	44.57%

Correlation

The correlation between OLMA and APP 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	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (All Time) Calculated using the full available price history since Apr 16, 2021	0.22

The correlation between OLMA and APP shifts across timeframes, from 0.05 (1 year) to 0.22 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap OLMA : $1.10B APP : $205.14B
EPS OLMA : -$2.03 APP : $11.64
PB Ratio OLMA : 2.29 APP : 86.80
Total Revenue (TTM) OLMA : $0.00 APP : $6.16B
Gross Profit (TTM) OLMA : -$187.00K APP : $5.45B
EBITDA (TTM) OLMA : -$197.79M APP : $4.87B

Return for Risk

OLMA vs. APP — Risk / Return Rank

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

OLMA

OLMA Risk / Return Rank: 76
OLMA Sharpe Ratio Rank: 68
OLMA Sortino Ratio Rank: 90
OLMA Omega Ratio Rank: 88
OLMA Calmar Ratio Rank: 68
OLMA Martin Ratio Rank: 66

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.

OLMA vs. APP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Olema Pharmaceuticals, Inc. (OLMA) 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.

	OLMA	APP	Difference
Sharpe ratio Return per unit of total volatility	0.90	0.72	+0.18
Sortino ratio Return per unit of downside risk	3.26	1.31	+1.95
Omega ratio Gain probability vs. loss probability	1.41	1.18	+0.23
Calmar ratio Return relative to maximum drawdown	1.46	1.08	+0.38
Martin ratio Return relative to average drawdown	3.12	2.15	+0.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OLMA vs. APP - Sharpe Ratio Comparison

The current OLMA Sharpe Ratio is 0.90, which is comparable to the APP Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of OLMA 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

	OLMA	APP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	0.72	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.16	0.70	-0.86
Sharpe Ratio (All Time) Calculated using the full available price history	-0.23	0.71	-0.93

Drawdowns

OLMA vs. APP - Drawdown Comparison

The maximum OLMA drawdown since its inception was -96.26%, roughly equal to the maximum APP drawdown of -91.90%. Use the drawdown chart below to compare losses from any high point for OLMA and APP.

Drawdown Indicators

	OLMA	APP	Difference
Max Drawdown Largest peak-to-trough decline	-96.26%	-91.90%	-4.36%
Max Drawdown (1Y) Largest decline over 1 year	-70.16%	-49.99%	-20.17%
Max Drawdown (3Y) Largest decline over 3 years	-82.15%	-57.00%	-25.15%
Max Drawdown (5Y) Largest decline over 5 years	-93.36%	-91.90%	-1.46%
Current Drawdown Current decline from peak	-80.39%	-17.44%	-62.95%
Average Drawdown Average peak-to-trough decline	-74.98%	-42.52%	-32.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.85%	25.13%	+7.72%

Volatility

OLMA vs. APP - Volatility Comparison

Olema Pharmaceuticals, Inc. (OLMA) has a higher volatility of 21.98% compared to AppLovin Corporation (APP) at 19.94%. This indicates that OLMA's price experiences larger fluctuations and is considered to be riskier than APP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OLMA	APP	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.98%	19.94%	+2.04%
Volatility (6M) Calculated over the trailing 6-month period	55.92%	58.33%	-2.41%
Volatility (1Y) Calculated over the trailing 1-year period	161.50%	70.60%	+90.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	107.97%	77.73%	+30.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	106.45%	77.53%	+28.92%

Dividends

OLMA vs. APP - Dividend Comparison

Neither OLMA nor APP has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both OLMA and APP in my portfolio?

OLMA and APP 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.

Which is riskier, OLMA or APP?

OLMA has higher volatility (21.98%) compared to APP (19.94%). In terms of maximum drawdown, OLMA dropped -96.26% vs APP's -91.90%.

Which has better risk-adjusted returns?

OLMA currently has the higher Sharpe Ratio (0.90 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.