PAA vs. AVDL

Last updated Jun 9, 2026

PAA (Plains All American Pipeline, L.P.) and AVDL (Avadel Pharmaceuticals plc) are both stocks. PAA operates in Oil & Gas Midstream (Energy), while AVDL operates in Drug Manufacturers - Specialty & Generic (Healthcare). At a 0.12 correlation, their price movements are largely independent.

Performance

PAA vs. AVDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Plains All American Pipeline, L.P. (PAA) and Avadel Pharmaceuticals plc (AVDL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PAA

• 1D: 0.88%
• 1M: 4.97%
• YTD: 32.09%
• 6M: 35.41%
• 1Y: 42.03%
• 3Y*: 29.12%
• 5Y*: 22.64%
• 10Y*: 5.94%

AVDL

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PAA vs. AVDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAA Plains All American Pipeline, L.P.	32.09%	14.30%	21.38%	39.18%	35.79%	22.24%	-50.79%	-2.28%	2.31%	-31.34%
AVDL Avadel Pharmaceuticals plc	0.42%	105.04%	-25.57%	97.21%	-11.39%	20.96%	-11.52%	192.64%	-68.54%	-21.08%

Correlation

The correlation between PAA and AVDL is 0.08, 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	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since Nov 18, 1998	0.12

Fundamentals

Market Cap PAA : $16.10B AVDL : $2.19B
EPS PAA : $2.19 AVDL : -$0.00
PS Ratio PAA : 0.36 AVDL : 8.72
PB Ratio PAA : 1.26 AVDL : 22.31
Total Revenue (TTM) PAA : $45.25B AVDL : $248.52M
Gross Profit (TTM) PAA : $1.55B AVDL : $234.76M
EBITDA (TTM) PAA : $2.54B AVDL : $10.13M

Return for Risk

PAA vs. AVDL — Risk / Return Rank

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

PAA

PAA Risk / Return Rank: 87
PAA Sharpe Ratio Rank: 91
PAA Sortino Ratio Rank: 90
PAA Omega Ratio Rank: 87
PAA Calmar Ratio Rank: 83
PAA Martin Ratio Rank: 85

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.

PAA vs. AVDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Plains All American Pipeline, L.P. (PAA) and Avadel Pharmaceuticals plc (AVDL). 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.

	PAA	AVDL	Difference
Sharpe ratio: Return per unit of total volatility	2.29	—	—
Sortino ratio: Return per unit of downside risk	3.12	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	2.91	—	—
Martin ratio: Return relative to average drawdown	8.41	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PAA	AVDL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	—	—

Drawdowns

Drawdown Indicators

	PAA	AVDL	Difference
Max Drawdown Largest peak-to-trough decline	-91.99%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-14.53%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-22.26%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.11%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-87.92%	—	—
Current Drawdown Current decline from peak	-8.58%	—	—
Average Drawdown Average peak-to-trough decline	-25.77%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	5.01%	—	—

Volatility

Volatility by Period

	PAA	AVDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.29%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.05%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.45%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.80%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.83%	—	—

Dividends

PAA vs. AVDL - Dividend Comparison

PAA's dividend yield for the trailing twelve months is around 7.00%, while AVDL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVDL Avadel Pharmaceuticals plc	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.	7.00%	8.46%	7.44%	7.06%	7.08%	7.71%	10.92%	7.50%	5.99%	9.45%	8.21%	11.93%

Financials

Frequently Asked Questions

Can I hold both PAA and AVDL in my portfolio?

PAA and AVDL have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.