PLSE vs. LUMN

Last updated Jun 4, 2026

PLSE (Pulse Biosciences, Inc.) and LUMN (Lumen Technologies, Inc.) are both stocks. PLSE operates in Medical Instruments & Supplies (Healthcare), while LUMN operates in Telecom Services (Communication Services). Over the past 10 years, PLSE returned 19.02%/yr vs -4.15%/yr for LUMN. At a 0.16 correlation, their price movements are largely independent.

Performance

PLSE vs. LUMN - Performance Comparison

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

Returns By Period

In the year-to-date period, PLSE achieves a 82.01% return, which is significantly higher than LUMN's 28.44% return. Over the past 10 years, PLSE has outperformed LUMN with an annualized return of 19.02%, while LUMN has yielded a comparatively lower -4.15% annualized return.

PLSE

• 1D: 2.92%
• 1M: 24.76%
• YTD: 82.01%
• 6M: 85.25%
• 1Y: 41.75%
• 3Y*: 57.47%
• 5Y*: 6.15%
• 10Y*: 19.02%

LUMN

• 1D: -5.49%
• 1M: 6.97%
• YTD: 28.44%
• 6M: 4.28%
• 1Y: 142.82%
• 3Y*: 70.60%
• 5Y*: -5.52%
• 10Y*: -4.15%

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

PLSE vs. LUMN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PLSE Pulse Biosciences, Inc.	82.01%	-21.14%	42.24%	341.88%	-81.30%	-37.93%	77.93%	17.02%	-51.44%	263.08%
LUMN Lumen Technologies, Inc.	28.44%	46.33%	190.16%	-64.94%	-55.48%	38.82%	-19.18%	-5.22%	2.00%	-21.73%

Correlation

The correlation between PLSE and LUMN is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since May 19, 2016	0.16

Fundamentals

Market Cap PLSE : $1.69B LUMN : $9.97B
EPS PLSE : -$1.11 LUMN : -$1.75
PS Ratio PLSE : 2.24K LUMN : 0.82
PB Ratio PLSE : 25.55 LUMN : 0.86
Total Revenue (TTM) PLSE : $751.00K LUMN : $12.12B
Gross Profit (TTM) PLSE : -$684.00K LUMN : $1.52B
EBITDA (TTM) PLSE : -$73.79M LUMN : $1.12B

Return for Risk

PLSE vs. LUMN — Risk / Return Rank

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

PLSE

PLSE Risk / Return Rank: 63
PLSE Sharpe Ratio Rank: 58
PLSE Sortino Ratio Rank: 66
PLSE Omega Ratio Rank: 63
PLSE Calmar Ratio Rank: 64
PLSE Martin Ratio Rank: 62

LUMN

LUMN Risk / Return Rank: 81
LUMN Sharpe Ratio Rank: 85
LUMN Sortino Ratio Rank: 82
LUMN Omega Ratio Rank: 81
LUMN Calmar Ratio Rank: 82
LUMN Martin Ratio Rank: 78

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. LUMN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pulse Biosciences, Inc. (PLSE) and Lumen Technologies, Inc. (LUMN). 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	LUMN	Difference
Sharpe ratio Return per unit of total volatility	0.49	1.80	-1.31
Sortino ratio Return per unit of downside risk	1.57	2.46	-0.89
Omega ratio Gain probability vs. loss probability	1.19	1.32	-0.13
Calmar ratio Return relative to maximum drawdown	1.15	3.04	-1.89
Martin ratio Return relative to average drawdown	2.21	5.83	-3.63
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. LUMN - Sharpe Ratio Comparison

The current PLSE Sharpe Ratio is 0.49, which is lower than the LUMN Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of PLSE and LUMN, 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	LUMN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.49	1.80	-1.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	-0.07	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	-0.06	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.18	+0.03

Drawdowns

PLSE vs. LUMN - Drawdown Comparison

The maximum PLSE drawdown since its inception was -97.22%, roughly equal to the maximum LUMN drawdown of -95.26%. Use the drawdown chart below to compare losses from any high point for PLSE and LUMN.

Drawdown Indicators

	PLSE	LUMN	Difference
Max Drawdown Largest peak-to-trough decline	-97.22%	-95.26%	-1.96%
Max Drawdown (1Y) Largest decline over 1 year	-36.51%	-47.34%	+10.83%
Max Drawdown (3Y) Largest decline over 3 years	-55.90%	-69.66%	+13.76%
Max Drawdown (5Y) Largest decline over 5 years	-95.38%	-92.86%	-2.52%
Max Drawdown (10Y) Largest decline over 10 years	-97.22%	-94.44%	-2.78%
Current Drawdown Current decline from peak	-43.55%	-51.71%	+8.16%
Average Drawdown Average peak-to-trough decline	-59.75%	-27.64%	-32.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.04%	24.58%	-5.54%

Volatility

PLSE vs. LUMN - Volatility Comparison

Pulse Biosciences, Inc. (PLSE) has a higher volatility of 28.86% compared to Lumen Technologies, Inc. (LUMN) at 25.95%. This indicates that PLSE's price experiences larger fluctuations and is considered to be riskier than LUMN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLSE	LUMN	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.86%	25.95%	+2.91%
Volatility (6M) Calculated over the trailing 6-month period	69.05%	57.73%	+11.32%
Volatility (1Y) Calculated over the trailing 1-year period	84.91%	79.97%	+4.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.99%	85.17%	+12.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.70%	67.51%	+24.19%

Dividends

PLSE vs. LUMN - Dividend Comparison

Neither PLSE nor LUMN has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LUMN Lumen Technologies, Inc.	0.00%	0.00%	0.00%	0.00%	14.37%	7.97%	10.26%	7.57%	14.26%	12.95%	9.08%	8.59%
PLSE Pulse Biosciences, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both PLSE and LUMN in my portfolio?

PLSE and LUMN have a correlation of 0.12, 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 LUMN?

PLSE has higher volatility (28.86%) compared to LUMN (25.95%). In terms of maximum drawdown, PLSE dropped -97.22% vs LUMN's -95.26%.

Which has better risk-adjusted returns?

LUMN currently has the higher Sharpe Ratio (1.80 vs 0.49), 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.