PAR vs. APPN

Last updated Jul 14, 2026

PAR (PAR Technology Corporation) and APPN (Appian Corporation) are both stocks. Both are in the Technology sector — PAR in Software - Application, APPN in Software - Infrastructure. Over the past 5 years, PAR returned -23.07%/yr vs -26.11%/yr for APPN. At a 0.41 correlation, their price movements are largely independent.

Performance

PAR vs. APPN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PAR Technology Corporation (PAR) and Appian Corporation (APPN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAR achieves a -52.62% return, which is significantly lower than APPN's -26.45% return.

PAR

• 1D: 1.84%
• 1M: 15.37%
• 6M: -54.60%
• YTD: -52.62%
• 1Y: -75.11%
• 3Y*: -20.29%
• 5Y*: -23.07%
• 10Y*: 12.91%

APPN

• 1D: 2.72%
• 1M: 8.50%
• 6M: -21.18%
• YTD: -26.45%
• 1Y: -9.20%
• 3Y*: -19.78%
• 5Y*: -26.11%
• 10Y*: —

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

PAR vs. APPN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAR PAR Technology Corporation	-52.62%	-50.08%	66.90%	67.01%	-50.60%	-15.96%	104.26%	43.13%	132.62%	11.05%
APPN Appian Corporation	-26.45%	7.40%	-12.43%	15.66%	-50.07%	-59.77%	324.21%	43.06%	-15.15%	109.87%

Correlation

The correlation between PAR and APPN is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since May 25, 2017	0.41

The correlation between PAR and APPN has been stable across timeframes, ranging from 0.41 to 0.51 - a consistent structural relationship.

Fundamentals

Market Cap PAR : $709.02M APPN : $1.93B
EPS PAR : -$1.87 APPN : $0.01
PS Ratio PAR : 1.47 APPN : 2.53
Total Revenue (TTM) PAR : $475.66M APPN : $762.69M
Gross Profit (TTM) PAR : $190.78M APPN : $563.17M
EBITDA (TTM) PAR : -$33.08M APPN : $32.83M

Return for Risk

PAR vs. APPN — Risk / Return Rank

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

PAR

PAR Risk / Return Rank: 6
PAR Sharpe Ratio Rank: 4
PAR Sortino Ratio Rank: 3
PAR Omega Ratio Rank: 3
PAR Calmar Ratio Rank: 7
PAR Martin Ratio Rank: 14

APPN

APPN Risk / Return Rank: 40
APPN Sharpe Ratio Rank: 39
APPN Sortino Ratio Rank: 39
APPN Omega Ratio Rank: 39
APPN Calmar Ratio Rank: 40
APPN Martin Ratio Rank: 41

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.

PAR vs. APPN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PAR Technology Corporation (PAR) and Appian Corporation (APPN). 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.

	PAR	APPN	Difference
Sharpe ratio: Return per unit of total volatility	-1.10	-0.15	-0.94
Sortino ratio: Return per unit of downside risk	-2.10	0.21	-2.31
Omega ratio: Gain probability vs. loss probability	0.73	1.02	-0.29
Calmar ratio: Return relative to maximum drawdown	-0.90	-0.16	-0.75
Martin ratio: Return relative to average drawdown	-1.24	-0.27	-0.97

PAR vs. APPN - Sharpe Ratio Comparison

The current PAR Sharpe Ratio is -1.10, which is lower than the APPN Sharpe Ratio of -0.15. The chart below compares the historical Sharpe Ratios of PAR and APPN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PAR vs. APPN - Drawdown Comparison

The maximum PAR drawdown since its inception was -90.88%, roughly equal to the maximum APPN drawdown of -92.04%. Use the drawdown chart below to compare losses from any high point for PAR and APPN.

Drawdown Indicators

	PAR	APPN	Difference
Max Drawdown Largest peak-to-trough decline	-90.88%	-92.04%	+1.16%
Max Drawdown (1Y) Largest decline over 1 year	-83.41%	-58.98%	-24.43%
Max Drawdown (3Y) Largest decline over 3 years	-85.43%	-64.03%	-21.40%
Max Drawdown (5Y) Largest decline over 5 years	-85.43%	-85.17%	-0.26%
Max Drawdown (10Y) Largest decline over 10 years	-86.68%	—	—
Current Drawdown Current decline from peak	-80.62%	-88.93%	+8.31%
Average Drawdown Average peak-to-trough decline	-53.41%	-54.72%	+1.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	60.56%	34.31%	+26.25%

Volatility

PAR vs. APPN - Volatility Comparison

PAR Technology Corporation (PAR) has a higher volatility of 17.67% compared to Appian Corporation (APPN) at 14.08%. This indicates that PAR's price experiences larger fluctuations and is considered to be riskier than APPN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAR	APPN	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.67%	14.08%	+3.59%
Volatility (6M) Calculated over the trailing 6-month period	59.85%	42.37%	+17.48%
Volatility (1Y) Calculated over the trailing 1-year period	68.75%	60.74%	+8.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.50%	61.25%	-5.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.69%	65.89%	-9.20%

Dividends

PAR vs. APPN - Dividend Comparison

Neither PAR nor APPN has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
APPN Appian Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PAR PAR Technology Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.01%

Financials

PAR vs. APPN - Profitability Comparison

The chart below illustrates the profitability comparison between PAR Technology Corporation and Appian Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

PAR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, PAR Technology Corporation reported a gross profit of 54.50M and revenue of 123.97M. Therefore, the gross margin over that period was 44.0%.

APPN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Appian Corporation reported a gross profit of 147.77M and revenue of 202.18M. Therefore, the gross margin over that period was 73.1%.

PAR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, PAR Technology Corporation reported an operating income of -16.17M and revenue of 123.97M, resulting in an operating margin of -13.0%.

APPN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Appian Corporation reported an operating income of 3.16M and revenue of 202.18M, resulting in an operating margin of 1.6%.

PAR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, PAR Technology Corporation reported a net income of -16.17M and revenue of 123.97M, resulting in a net margin of -13.0%.

APPN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Appian Corporation reported a net income of -1.53M and revenue of 202.18M, resulting in a net margin of -0.8%.

Frequently Asked Questions

Can I hold both PAR and APPN in my portfolio?

PAR and APPN have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAR or APPN?

PAR has higher volatility (17.67%) compared to APPN (14.08%). In terms of maximum drawdown, PAR dropped -90.88% vs APPN's -92.04%.

Which has better risk-adjusted returns?

APPN currently has the higher Sharpe Ratio (-0.15 vs -1.10), 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.