PATH vs. SPOT
PATH (UiPath Inc.) and SPOT (Spotify Technology S.A.) are both stocks. PATH operates in Software - Infrastructure (Technology), while SPOT operates in Internet Content & Information (Communication Services). Over the past 5 years, PATH returned -27.99%/yr vs 14.71%/yr for SPOT. At a 0.45 correlation, their price movements are largely independent.
Performance
PATH vs. SPOT - Performance Comparison
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Returns By Period
In the year-to-date period, PATH achieves a -25.81% return, which is significantly lower than SPOT's -15.22% return.
PATH
- 1D
- 0.08%
- 1M
- 18.40%
- 6M
- -15.20%
- YTD
- -25.81%
- 1Y
- -3.42%
- 3Y*
- -11.38%
- 5Y*
- -27.99%
- 10Y*
- —
- ALL TIME*
- -27.46%
SPOT
- 1D
- 2.97%
- 1M
- 5.18%
- 6M
- -2.41%
- YTD
- -15.22%
- 1Y
- -29.21%
- 3Y*
- 42.06%
- 5Y*
- 14.71%
- 10Y*
- —
- ALL TIME*
- 14.01%
PATH vs. SPOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PATH UiPath Inc. | -25.81% | 28.95% | -48.83% | 95.44% | -70.53% | -34.15% |
SPOT Spotify Technology S.A. | -15.22% | 29.80% | 138.08% | 138.01% | -66.27% | -13.71% |
Correlation
The correlation between PATH and SPOT is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Apr 21, 2021 | 0.45 |
The correlation between PATH and SPOT shifts across timeframes, from 0.25 (1 year) to 0.45 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
PATH:
$6.47B
SPOT:
$101.23B
PATH:
$0.61
SPOT:
€12.84
PATH:
20.06
SPOT:
33.53
PATH:
3.93
SPOT:
5.18
PATH:
3.37
SPOT:
11.24
PATH:
$1.67B
SPOT:
€17.60B
PATH:
$1.39B
SPOT:
€5.68B
PATH:
$115.98M
SPOT:
€2.75B
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Return for Risk
PATH vs. SPOT — Risk / Return Rank
PATH
SPOT
PATH vs. SPOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UiPath Inc. (PATH) and Spotify Technology S.A. (SPOT). 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.
| PATH | SPOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 0.90 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | -0.66 | +0.60 |
| Martin ratioReturn relative to average drawdown | -0.11 | -1.10 | +0.99 |
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Drawdowns
PATH vs. SPOT - Drawdown Comparison
The maximum PATH drawdown since its inception was -88.98%, which is greater than SPOT's maximum drawdown of -80.51%. Use the drawdown chart below to compare losses from any high point for PATH and SPOT.
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Drawdown Indicators
| PATH | SPOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.98% | -80.51% | -8.47% |
Max Drawdown (1Y)Largest decline over 1 year | -51.37% | -44.11% | -7.26% |
Max Drawdown (3Y)Largest decline over 3 years | -65.10% | -46.80% | -18.30% |
Max Drawdown (5Y)Largest decline over 5 years | -85.56% | -76.39% | -9.17% |
Current DrawdownCurrent decline from peak | -85.71% | -36.55% | -49.16% |
Average DrawdownAverage peak-to-trough decline | -73.97% | -30.96% | -43.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.18% | 26.55% | +4.63% |
Volatility
PATH vs. SPOT - Volatility Comparison
UiPath Inc. (PATH) has a higher volatility of 10.49% compared to Spotify Technology S.A. (SPOT) at 8.93%. This indicates that PATH's price experiences larger fluctuations and is considered to be riskier than SPOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PATH | SPOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.49% | 8.93% | +1.56% |
Volatility (6M)Calculated over the trailing 6-month period | 39.86% | 37.30% | +2.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.17% | 44.99% | +19.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.49% | 47.60% | +15.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.81% | 47.21% | +16.60% |
Dividends
PATH vs. SPOT - Dividend Comparison
Neither PATH nor SPOT has paid dividends to shareholders.
Financials
PATH vs. SPOT - Financials Comparison
This section allows you to compare key financial metrics between UiPath Inc. and Spotify Technology S.A.. 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
PATH vs. SPOT - Profitability Comparison
PATH - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, UiPath Inc. reported a gross profit of 341.45M and revenue of 418.38M. Therefore, the gross margin over that period was 81.6%.
SPOT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Spotify Technology S.A. reported a gross profit of 1.51B and revenue of 4.61B. Therefore, the gross margin over that period was 32.9%.
PATH - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, UiPath Inc. reported an operating income of 27.99M and revenue of 418.38M, resulting in an operating margin of 6.7%.
SPOT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Spotify Technology S.A. reported an operating income of 726.76M and revenue of 4.61B, resulting in an operating margin of 15.8%.
PATH - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, UiPath Inc. reported a net income of 22.53M and revenue of 418.38M, resulting in a net margin of 5.4%.
SPOT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Spotify Technology S.A. reported a net income of 732.86M and revenue of 4.61B, resulting in a net margin of 15.9%.
Frequently Asked Questions
PATH and SPOT have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PATH has higher volatility (10.49%) compared to SPOT (8.93%). In terms of maximum drawdown, PATH dropped -88.98% vs SPOT's -80.51%.
PATH currently has the higher Sharpe Ratio (-0.05 vs -0.65), 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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