PLSE vs. APP

Last updated Jun 3, 2026

PLSE (Pulse Biosciences, Inc.) and APP (AppLovin Corporation) are both stocks. PLSE operates in Medical Instruments & Supplies (Healthcare), while APP operates in Software - Application (Technology). Over the past 5 years, PLSE returned 5.22%/yr vs 53.76%/yr for APP. At a 0.21 correlation, their price movements are largely independent.

Performance

PLSE vs. APP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pulse Biosciences, Inc. (PLSE) and AppLovin Corporation (APP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLSE achieves a 76.84% return, which is significantly higher than APP's -10.12% return.

PLSE

• 1D: -1.58%
• 1M: 16.56%
• YTD: 76.84%
• 6M: 86.91%
• 1Y: 43.84%
• 3Y*: 55.96%
• 5Y*: 5.22%
• 10Y*: 18.68%

APP

• 1D: -1.31%
• 1M: 31.66%
• YTD: -10.12%
• 6M: -7.25%
• 1Y: 50.69%
• 3Y*: 190.09%
• 5Y*: 53.76%
• 10Y*: —

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

PLSE vs. APP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PLSE Pulse Biosciences, Inc.	76.84%	-21.14%	42.24%	341.88%	-81.30%	-31.97%
APP AppLovin Corporation	-10.12%	108.08%	712.62%	278.44%	-88.83%	44.57%

Correlation

The correlation between PLSE and APP is 0.10, 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	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Apr 16, 2021	0.21

The correlation between PLSE and APP shifts across timeframes, from 0.10 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap PLSE : $1.65B APP : $205.14B
EPS PLSE : -$1.11 APP : $11.64
PS Ratio PLSE : 2.18K APP : 33.45
PB Ratio PLSE : 24.83 APP : 86.80
Total Revenue (TTM) PLSE : $751.00K APP : $6.16B
Gross Profit (TTM) PLSE : -$684.00K APP : $5.45B
EBITDA (TTM) PLSE : -$73.79M APP : $4.87B

Return for Risk

PLSE vs. APP — Risk / Return Rank

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

PLSE

PLSE Risk / Return Rank: 62
PLSE Sharpe Ratio Rank: 58
PLSE Sortino Ratio Rank: 67
PLSE Omega Ratio Rank: 63
PLSE Calmar Ratio Rank: 63
PLSE Martin Ratio Rank: 60

APP

APP Risk / Return Rank: 62
APP Sharpe Ratio Rank: 64
APP Sortino Ratio Rank: 61
APP Omega Ratio Rank: 61
APP Calmar Ratio Rank: 62
APP Martin Ratio Rank: 61

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.

PLSE vs. APP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pulse Biosciences, Inc. (PLSE) and AppLovin Corporation (APP). 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.

	PLSE	APP	Difference
Sharpe ratio Return per unit of total volatility	0.52	0.72	-0.20
Sortino ratio Return per unit of downside risk	1.60	1.31	+0.29
Omega ratio Gain probability vs. loss probability	1.19	1.18	+0.01
Calmar ratio Return relative to maximum drawdown	1.10	1.08	+0.02
Martin ratio Return relative to average drawdown	2.12	2.15	-0.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PLSE vs. APP - Sharpe Ratio Comparison

The current PLSE Sharpe Ratio is 0.52, which is comparable to the APP Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of PLSE and APP, 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

	PLSE	APP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.52	0.72	-0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.05	0.70	-0.64
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.20	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.71	-0.50

Drawdowns

PLSE vs. APP - Drawdown Comparison

The maximum PLSE drawdown since its inception was -97.22%, which is greater than APP's maximum drawdown of -91.90%. Use the drawdown chart below to compare losses from any high point for PLSE and APP.

Drawdown Indicators

	PLSE	APP	Difference
Max Drawdown Largest peak-to-trough decline	-97.22%	-91.90%	-5.32%
Max Drawdown (1Y) Largest decline over 1 year	-36.51%	-49.99%	+13.48%
Max Drawdown (3Y) Largest decline over 3 years	-55.90%	-57.00%	+1.10%
Max Drawdown (5Y) Largest decline over 5 years	-95.38%	-91.90%	-3.48%
Max Drawdown (10Y) Largest decline over 10 years	-97.22%	—	—
Current Drawdown Current decline from peak	-45.15%	-17.44%	-27.71%
Average Drawdown Average peak-to-trough decline	-59.76%	-42.52%	-17.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.03%	25.13%	-6.10%

Volatility

PLSE vs. APP - Volatility Comparison

Pulse Biosciences, Inc. (PLSE) has a higher volatility of 29.21% compared to AppLovin Corporation (APP) at 19.94%. This indicates that PLSE's price experiences larger fluctuations and is considered to be riskier than APP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLSE	APP	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.21%	19.94%	+9.27%
Volatility (6M) Calculated over the trailing 6-month period	69.11%	58.33%	+10.78%
Volatility (1Y) Calculated over the trailing 1-year period	84.91%	70.60%	+14.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.98%	77.73%	+20.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.71%	77.53%	+14.18%

Dividends

PLSE vs. APP - Dividend Comparison

Neither PLSE nor APP has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both PLSE and APP in my portfolio?

PLSE and APP have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLSE or APP?

PLSE has higher volatility (29.21%) compared to APP (19.94%). In terms of maximum drawdown, PLSE dropped -97.22% vs APP's -91.90%.

Which has better risk-adjusted returns?

APP currently has the higher Sharpe Ratio (0.72 vs 0.52), 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.