PI vs. AVAV

Last updated Jun 4, 2026

PI (Impinj, Inc.) and AVAV (AeroVironment, Inc.) are both stocks. PI operates in Communication Equipment (Technology), while AVAV operates in Aerospace & Defense (Industrials). Over the past 5 years, PI returned 22.46%/yr vs 11.45%/yr for AVAV. At a 0.30 correlation, their price movements are largely independent.

Performance

PI vs. AVAV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Impinj, Inc. (PI) and AeroVironment, Inc. (AVAV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PI having a -20.83% return and AVAV slightly lower at -20.84%.

PI

• 1D: -3.84%
• 1M: -3.79%
• YTD: -20.83%
• 6M: -16.09%
• 1Y: 14.49%
• 3Y*: 9.92%
• 5Y*: 22.46%
• 10Y*: —

AVAV

• 1D: -6.30%
• 1M: 6.22%
• YTD: -20.84%
• 6M: -29.55%
• 1Y: 2.85%
• 3Y*: 24.66%
• 5Y*: 11.45%
• 10Y*: 20.53%

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

PI vs. AVAV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PI Impinj, Inc.	-20.83%	19.79%	61.35%	-17.54%	23.09%	111.85%	61.91%	77.73%	-35.42%	-36.25%
AVAV AeroVironment, Inc.	-20.84%	57.18%	22.10%	47.14%	38.09%	-28.62%	40.75%	-9.14%	20.99%	109.32%

Correlation

The correlation between PI and AVAV is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (All Time) Calculated using the full available price history since Jul 22, 2016	0.30

Fundamentals

Market Cap PI : $4.17B AVAV : $9.34B
EPS PI : -$0.93 AVAV : -$4.63
PS Ratio PI : 11.39 AVAV : 7.79
PB Ratio PI : 20.47 AVAV : 2.19
Total Revenue (TTM) PI : $361.05M AVAV : $1.19B
Gross Profit (TTM) PI : $188.92M AVAV : $104.63M
EBITDA (TTM) PI : -$4.74M AVAV : -$242.06M

Return for Risk

PI vs. AVAV — Risk / Return Rank

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

PI

PI Risk / Return Rank: 47
PI Sharpe Ratio Rank: 48
PI Sortino Ratio Rank: 50
PI Omega Ratio Rank: 49
PI Calmar Ratio Rank: 46
PI Martin Ratio Rank: 45

AVAV

AVAV Risk / Return Rank: 42
AVAV Sharpe Ratio Rank: 42
AVAV Sortino Ratio Rank: 44
AVAV Omega Ratio Rank: 43
AVAV Calmar Ratio Rank: 41
AVAV 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.

PI vs. AVAV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Impinj, Inc. (PI) and AeroVironment, Inc. (AVAV). 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.

	PI	AVAV	Difference
Sharpe ratio Return per unit of total volatility	0.20	0.04	+0.16
Sortino ratio Return per unit of downside risk	0.85	0.61	+0.24
Omega ratio Gain probability vs. loss probability	1.11	1.07	+0.03
Calmar ratio Return relative to maximum drawdown	0.23	0.05	+0.19
Martin ratio Return relative to average drawdown	0.43	0.09	+0.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PI vs. AVAV - Sharpe Ratio Comparison

The current PI Sharpe Ratio is 0.20, which is higher than the AVAV Sharpe Ratio of 0.04. The chart below compares the historical Sharpe Ratios of PI and AVAV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PI	AVAV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.20	0.04	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.21	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.24	+0.08

Drawdowns

PI vs. AVAV - Drawdown Comparison

The maximum PI drawdown since its inception was -81.35%, which is greater than AVAV's maximum drawdown of -61.45%. Use the drawdown chart below to compare losses from any high point for PI and AVAV.

Drawdown Indicators

	PI	AVAV	Difference
Max Drawdown Largest peak-to-trough decline	-81.35%	-61.45%	-19.90%
Max Drawdown (1Y) Largest decline over 1 year	-62.24%	-61.45%	-0.79%
Max Drawdown (3Y) Largest decline over 3 years	-73.79%	-61.45%	-12.34%
Max Drawdown (5Y) Largest decline over 5 years	-73.79%	-61.45%	-12.34%
Max Drawdown (10Y) Largest decline over 10 years	—	-61.45%	—
Current Drawdown Current decline from peak	-43.05%	-53.28%	+10.23%
Average Drawdown Average peak-to-trough decline	-36.68%	-28.55%	-8.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.42%	33.18%	+0.24%

Volatility

PI vs. AVAV - Volatility Comparison

The current volatility for Impinj, Inc. (PI) is 16.57%, while AeroVironment, Inc. (AVAV) has a volatility of 24.22%. This indicates that PI experiences smaller price fluctuations and is considered to be less risky than AVAV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PI	AVAV	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.57%	24.22%	-7.65%
Volatility (6M) Calculated over the trailing 6-month period	56.01%	57.92%	-1.91%
Volatility (1Y) Calculated over the trailing 1-year period	74.19%	72.94%	+1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.34%	55.62%	+13.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.86%	51.85%	+21.01%

Dividends

PI vs. AVAV - Dividend Comparison

Neither PI nor AVAV has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both PI and AVAV in my portfolio?

PI and AVAV have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PI or AVAV?

AVAV has higher volatility (24.22%) compared to PI (16.57%). In terms of maximum drawdown, PI dropped -81.35% vs AVAV's -61.45%.

Which has better risk-adjusted returns?

PI currently has the higher Sharpe Ratio (0.20 vs 0.04), 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.