PHUN vs. RIOT

Last updated Jun 24, 2026

PHUN (Phunware, Inc.) and RIOT (Riot Platforms, Inc.) are both stocks. Both operate in the Software - Application industry within the Technology sector. Over the past 5 years, PHUN returned -50.93%/yr vs -3.35%/yr for RIOT. At a 0.24 correlation, their price movements are largely independent.

Performance

PHUN vs. RIOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Phunware, Inc. (PHUN) and Riot Platforms, Inc. (RIOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PHUN achieves a 4.59% return, which is significantly lower than RIOT's 126.44% return.

PHUN

• 1D: -2.07%
• 1M: -6.44%
• YTD: 4.59%
• 6M: 0.25%
• 1Y: -32.35%
• 3Y*: -57.71%
• 5Y*: -50.93%
• 10Y*: —

RIOT

• 1D: 0.21%
• 1M: 17.15%
• YTD: 126.44%
• 6M: 109.88%
• 1Y: 209.49%
• 3Y*: 35.24%
• 5Y*: -3.35%
• 10Y*: 24.91%

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

PHUN vs. RIOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PHUN Phunware, Inc.	4.59%	-64.42%	26.83%	-89.40%	-70.60%	108.73%	5.88%	-91.65%	39.67%	2.10%
RIOT Riot Platforms, Inc.	126.44%	24.09%	-34.00%	356.34%	-84.82%	31.43%	1,416.96%	-25.83%	-94.68%	729.34%

Correlation

The correlation between PHUN and RIOT 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	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (All Time) Calculated using the full available price history since Oct 28, 2016	0.24

Over the past year, PHUN and RIOT have become more correlated (0.48) than their long-term average of 0.24, meaning their price movements have been converging.

Fundamentals

Market Cap PHUN : $38.16M RIOT : $9.97B
EPS PHUN : -$0.54 RIOT : -$2.35
PS Ratio PHUN : 15.85 RIOT : 16.19
PB Ratio PHUN : 0.41 RIOT : 4.16
Total Revenue (TTM) PHUN : $2.41M RIOT : $653.27M
Gross Profit (TTM) PHUN : $1.32M RIOT : $179.76M
EBITDA (TTM) PHUN : -$17.47M RIOT : -$482.33M

Return for Risk

PHUN vs. RIOT — Risk / Return Rank

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

PHUN

PHUN Risk / Return Rank: 20
PHUN Sharpe Ratio Rank: 16
PHUN Sortino Ratio Rank: 18
PHUN Omega Ratio Rank: 20
PHUN Calmar Ratio Rank: 21
PHUN Martin Ratio Rank: 25

RIOT

RIOT Risk / Return Rank: 88
RIOT Sharpe Ratio Rank: 93
RIOT Sortino Ratio Rank: 87
RIOT Omega Ratio Rank: 85
RIOT Calmar Ratio Rank: 90
RIOT 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.

PHUN vs. RIOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Phunware, Inc. (PHUN) and Riot Platforms, Inc. (RIOT). 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.

	PHUN	RIOT	Difference
Sharpe ratio: Return per unit of total volatility	-0.59	2.52	-3.11
Sortino ratio: Return per unit of downside risk	-0.66	2.78	-3.44
Omega ratio: Gain probability vs. loss probability	0.93	1.35	-0.41
Calmar ratio: Return relative to maximum drawdown	-0.59	4.34	-4.94
Martin ratio: Return relative to average drawdown	-0.87	8.59	-9.46

PHUN vs. RIOT - Sharpe Ratio Comparison

The current PHUN Sharpe Ratio is -0.59, which is lower than the RIOT Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of PHUN and RIOT, 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

PHUN vs. RIOT - Drawdown Comparison

The maximum PHUN drawdown since its inception was -99.99%, roughly equal to the maximum RIOT drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for PHUN and RIOT.

Drawdown Indicators

	PHUN	RIOT	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-99.98%	-0.01%
Max Drawdown (1Y) Largest decline over 1 year	-54.55%	-48.57%	-5.98%
Max Drawdown (3Y) Largest decline over 3 years	-94.12%	-69.00%	-25.12%
Max Drawdown (5Y) Largest decline over 5 years	-99.63%	-92.55%	-7.08%
Max Drawdown (10Y) Largest decline over 10 years	—	-98.32%	—
Current Drawdown Current decline from peak	-99.99%	-99.10%	-0.89%
Average Drawdown Average peak-to-trough decline	-76.67%	-87.85%	+11.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.31%	24.49%	+12.82%

Volatility

PHUN vs. RIOT - Volatility Comparison

The current volatility for Phunware, Inc. (PHUN) is 9.25%, while Riot Platforms, Inc. (RIOT) has a volatility of 18.61%. This indicates that PHUN experiences smaller price fluctuations and is considered to be less risky than RIOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PHUN	RIOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.25%	18.61%	-9.36%
Volatility (6M) Calculated over the trailing 6-month period	36.20%	60.82%	-24.62%
Volatility (1Y) Calculated over the trailing 1-year period	55.43%	83.62%	-28.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	313.46%	93.65%	+219.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	254.33%	112.18%	+142.15%

Dividends

PHUN vs. RIOT - Dividend Comparison

PHUN's dividend yield for the trailing twelve months is around 2.49%, while RIOT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PHUN Phunware, Inc.	2.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RIOT Riot Platforms, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.52%

Financials

Frequently Asked Questions

Can I hold both PHUN and RIOT in my portfolio?

PHUN and RIOT 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, PHUN or RIOT?

RIOT has higher volatility (18.61%) compared to PHUN (9.25%). In terms of maximum drawdown, PHUN dropped -99.99% vs RIOT's -99.98%.

Which has better risk-adjusted returns?

RIOT currently has the higher Sharpe Ratio (2.52 vs -0.59), 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.