ONTO vs. PI
ONTO (Onto Innovation Inc.) and PI (Impinj, Inc.) are both stocks. Both are in the Technology sector — ONTO in Semiconductor Equipment & Materials, PI in Communication Equipment. Over the past 10 years, ONTO returned 29.21%/yr vs 22.81%/yr for PI. Their 0.43 correlation means their historical movements had little consistent relationship.
Performance
ONTO vs. PI - Performance Comparison
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Returns By Period
In the year-to-date period, ONTO achieves a 63.80% return, which is significantly higher than PI's -13.02% return. Over the past 10 years, ONTO has outperformed PI with an annualized return of 29.21%, while PI has yielded a comparatively lower 22.81% annualized return.
ONTO
- 1D
- 3.22%
- 1M
- -15.93%
- 6M
- 27.98%
- YTD
- 63.80%
- 1Y
- 174.21%
- 3Y*
- 28.03%
- 5Y*
- 29.84%
- 10Y*
- 29.21%
- ALL TIME*
- 15.74%
PI
- 1D
- 2.62%
- 1M
- 6.91%
- 6M
- 9.60%
- YTD
- -13.02%
- 1Y
- -1.02%
- 3Y*
- 32.11%
- 5Y*
- 26.90%
- 10Y*
- 22.81%
- ALL TIME*
- 23.66%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $295.69M | $343.45M | $385.27M | |
| $71.48M | $54.70M | $60.73M |
ONTO vs. PI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ONTO Onto Innovation Inc. | 63.80% | -5.29% | 9.01% | 124.56% | -32.74% | 112.89% | 30.13% | 33.70% | 9.67% | -0.56% |
PI Impinj, Inc. | -13.02% | 19.79% | 61.35% | -17.54% | 23.09% | 111.85% | 61.91% | 77.73% | -35.42% | -36.25% |
Correlation
The correlation between ONTO and PI is 0.37, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.37 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.48 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jul 21, 2016 | 0.43 |
The correlation between ONTO and PI shifts across timeframes, from 0.37 (1 year) to 0.48 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
ONTO:
$12.86B
PI:
$4.62B
ONTO:
$2.15
PI:
-$0.89
ONTO:
12.43
PI:
12.30
ONTO:
6.06
PI:
20.26
ONTO:
$1.03B
PI:
$371.53M
ONTO:
$502.93M
PI:
$195.84M
ONTO:
$177.93M
PI:
-$14.76M
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Return for Risk
ONTO vs. PI — Risk / Return Rank
ONTO
PI
ONTO vs. PI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Onto Innovation Inc. (ONTO) and Impinj, Inc. (PI). 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.
| ONTO | PI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.63 | ||
| Sortino ratioReturn per unit of downside risk | +2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.06 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 4.11 | -0.03 | +4.15 |
| Martin ratioReturn relative to average drawdown | 16.72 | -0.06 | +16.78 |
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Drawdowns
ONTO vs. PI - Drawdown Comparison
The maximum ONTO drawdown since its inception was -98.56%, which is greater than PI's maximum drawdown of -81.35%. Use the drawdown chart below to compare losses from any high point for ONTO and PI.
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Drawdown Indicators
| ONTO | PI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.56% | -81.35% | -17.21% |
Max Drawdown (1Y)Largest decline over 1 year | -42.31% | -62.24% | +19.93% |
Max Drawdown (3Y)Largest decline over 3 years | -62.82% | -73.79% | +10.97% |
Max Drawdown (5Y)Largest decline over 5 years | -62.82% | -73.79% | +10.97% |
Max Drawdown (10Y)Largest decline over 10 years | -62.82% | -81.35% | +18.53% |
Current DrawdownCurrent decline from peak | -31.67% | -37.43% | +5.76% |
Average DrawdownAverage peak-to-trough decline | -54.55% | -36.78% | -17.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.38% | 37.63% | -27.25% |
Volatility
ONTO vs. PI - Volatility Comparison
Onto Innovation Inc. (ONTO) has a higher volatility of 30.94% compared to Impinj, Inc. (PI) at 15.85%. This indicates that ONTO's price experiences larger fluctuations and is considered to be riskier than PI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ONTO | PI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 30.94% | 15.85% | +15.09% |
Volatility (6M)Calculated over the trailing 6-month period | 55.48% | 55.86% | -0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.42% | 77.00% | -9.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.93% | 69.90% | -11.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.49% | 72.71% | -20.22% |
Dividends
ONTO vs. PI - Dividend Comparison
Neither ONTO nor PI has paid dividends to shareholders.
Financials
ONTO vs. PI - Financials Comparison
This section allows you to compare key financial metrics between Onto Innovation Inc. and Impinj, 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
ONTO vs. PI - Profitability Comparison
ONTO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Onto Innovation Inc. reported a gross profit of 146.39M and revenue of 291.95M. Therefore, the gross margin over that period was 50.1%.
PI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Impinj, Inc. reported a gross profit of 63.53M and revenue of 108.37M. Therefore, the gross margin over that period was 58.6%.
ONTO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Onto Innovation Inc. reported an operating income of 33.51M and revenue of 291.95M, resulting in an operating margin of 11.5%.
PI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Impinj, Inc. reported an operating income of 10.50M and revenue of 108.37M, resulting in an operating margin of 9.7%.
ONTO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Onto Innovation Inc. reported a net income of 33.75M and revenue of 291.95M, resulting in a net margin of 11.6%.
PI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Impinj, Inc. reported a net income of 12.22M and revenue of 108.37M, resulting in a net margin of 11.3%.
Frequently Asked Questions
ONTO and PI have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ONTO has higher volatility (30.94%) compared to PI (15.85%). In terms of maximum drawdown, ONTO dropped -98.56% vs PI's -81.35%.
ONTO currently has the higher Sharpe Ratio (2.60 vs -0.03), 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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