PLTR vs. SPDN

Last updated Jun 9, 2026

PLTR (Palantir Technologies Inc.) is a stock, while SPDN (Direxion Daily S&P 500 Bear 1x Shares) is Inverse Equities fund tracking the S&P 500 Index. Over the past 5 years, PLTR returned 41.37%/yr vs -8.55%/yr for SPDN. At a correlation of -0.52, they often move in opposite directions.

Performance

PLTR vs. SPDN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Palantir Technologies Inc. (PLTR) and Direxion Daily S&P 500 Bear 1x Shares (SPDN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLTR achieves a -23.22% return, which is significantly lower than SPDN's -5.89% return.

PLTR

• 1D: 0.69%
• 1M: -0.97%
• YTD: -23.22%
• 6M: -24.81%
• 1Y: 6.85%
• 3Y*: 108.67%
• 5Y*: 41.37%
• 10Y*: —

SPDN

• 1D: -0.11%
• 1M: 0.11%
• YTD: -5.89%
• 6M: -5.63%
• 1Y: -14.82%
• 3Y*: -12.12%
• 5Y*: -8.55%
• 10Y*: -12.43%

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

PLTR vs. SPDN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PLTR Palantir Technologies Inc.	-23.22%	135.03%	340.48%	167.45%	-64.74%	-22.68%	135.50%
SPDN Direxion Daily S&P 500 Bear 1x Shares	-5.89%	-11.09%	-12.88%	-15.04%	18.63%	-23.72%	-12.12%

Correlation

The correlation between PLTR and SPDN is -0.46, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.46
Correlation (3Y) Calculated over the trailing 3-year period	-0.56
Correlation (5Y) Calculated over the trailing 5-year period	-0.58
Correlation (All Time) Calculated using the full available price history since Sep 30, 2020	-0.52

The correlation between PLTR and SPDN shifts across timeframes, from -0.58 (5 years) to -0.46 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PLTR vs. SPDN — Risk / Return Rank

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

PLTR

PLTR Risk / Return Rank: 45
PLTR Sharpe Ratio Rank: 47
PLTR Sortino Ratio Rank: 44
PLTR Omega Ratio Rank: 44
PLTR Calmar Ratio Rank: 47
PLTR Martin Ratio Rank: 46

SPDN

SPDN Risk / Return Rank: 1
SPDN Sharpe Ratio Rank: 0
SPDN Sortino Ratio Rank: 1
SPDN Omega Ratio Rank: 1
SPDN Calmar Ratio Rank: 2
SPDN Martin Ratio Rank: 1

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.

PLTR vs. SPDN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Palantir Technologies Inc. (PLTR) and Direxion Daily S&P 500 Bear 1x Shares (SPDN). 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.

	PLTR	SPDN	Difference
Sharpe ratio: Return per unit of total volatility	0.14	-1.21	+1.34
Sortino ratio: Return per unit of downside risk	0.53	-1.74	+2.27
Omega ratio: Gain probability vs. loss probability	1.07	0.81	+0.26
Calmar ratio: Return relative to maximum drawdown	0.18	-0.84	+1.02
Martin ratio: Return relative to average drawdown	0.33	-1.53	+1.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PLTR vs. SPDN - Sharpe Ratio Comparison

The current PLTR Sharpe Ratio is 0.14, which is higher than the SPDN Sharpe Ratio of -1.21. The chart below compares the historical Sharpe Ratios of PLTR and SPDN, 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

	PLTR	SPDN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.14	-1.21	+1.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	-0.51	+1.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	-0.69	+1.55

Drawdowns

PLTR vs. SPDN - Drawdown Comparison

The maximum PLTR drawdown since its inception was -84.62%, which is greater than SPDN's maximum drawdown of -75.31%. Use the drawdown chart below to compare losses from any high point for PLTR and SPDN.

Drawdown Indicators

	PLTR	SPDN	Difference
Max Drawdown Largest peak-to-trough decline	-84.62%	-75.31%	-9.31%
Max Drawdown (1Y) Largest decline over 1 year	-38.19%	-17.73%	-20.46%
Max Drawdown (3Y) Largest decline over 3 years	-40.61%	-38.24%	-2.37%
Max Drawdown (5Y) Largest decline over 5 years	-79.14%	-43.85%	-35.29%
Max Drawdown (10Y) Largest decline over 10 years	—	-75.31%	—
Current Drawdown Current decline from peak	-34.13%	-74.65%	+40.52%
Average Drawdown Average peak-to-trough decline	-40.29%	-48.57%	+8.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.71%	9.71%	+11.00%

Volatility

PLTR vs. SPDN - Volatility Comparison

Palantir Technologies Inc. (PLTR) has a higher volatility of 17.24% compared to Direxion Daily S&P 500 Bear 1x Shares (SPDN) at 3.55%. This indicates that PLTR's price experiences larger fluctuations and is considered to be riskier than SPDN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLTR	SPDN	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.24%	3.55%	+13.69%
Volatility (6M) Calculated over the trailing 6-month period	38.35%	9.44%	+28.91%
Volatility (1Y) Calculated over the trailing 1-year period	50.93%	12.33%	+38.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	65.44%	16.90%	+48.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.81%	18.05%	+51.76%

Dividends

PLTR vs. SPDN - Dividend Comparison

PLTR has not paid dividends to shareholders, while SPDN's dividend yield for the trailing twelve months is around 4.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PLTR Palantir Technologies Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPDN Direxion Daily S&P 500 Bear 1x Shares	4.01%	4.06%	5.32%	5.84%	0.96%	0.00%	0.10%	1.89%	1.24%	0.42%

Frequently Asked Questions

Can I hold both PLTR and SPDN in my portfolio?

PLTR and SPDN have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLTR or SPDN?

PLTR has higher volatility (17.24%) compared to SPDN (3.55%). In terms of maximum drawdown, PLTR dropped -84.62% vs SPDN's -75.31%.

Which has better risk-adjusted returns?

PLTR currently has the higher Sharpe Ratio (0.14 vs -1.21), 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.