PLUG vs. APD

Last updated Jun 13, 2026

PLUG (Plug Power Inc.) and APD (Air Products and Chemicals, Inc.) are both stocks. PLUG operates in Electrical Equipment & Parts (Industrials), while APD operates in Chemicals (Basic Materials). Over the past 10 years, PLUG returned 4.78%/yr vs 9.60%/yr for APD. At a 0.25 correlation, their price movements are largely independent.

Performance

PLUG vs. APD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Plug Power Inc. (PLUG) and Air Products and Chemicals, Inc. (APD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLUG achieves a 40.10% return, which is significantly higher than APD's 15.56% return. Over the past 10 years, PLUG has underperformed APD with an annualized return of 4.78%, while APD has yielded a comparatively higher 9.60% annualized return.

PLUG

• 1D: -2.47%
• 1M: -26.98%
• YTD: 40.10%
• 6M: 18.97%
• 1Y: 113.95%
• 3Y*: -36.75%
• 5Y*: -38.69%
• 10Y*: 4.78%

APD

• 1D: 1.26%
• 1M: -4.66%
• YTD: 15.56%
• 6M: 17.47%
• 1Y: 3.14%
• 3Y*: 2.22%
• 5Y*: 1.21%
• 10Y*: 9.60%

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

PLUG vs. APD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PLUG Plug Power Inc.	40.10%	-7.51%	-52.67%	-63.62%	-56.18%	-16.75%	973.10%	154.84%	-47.46%	96.67%
APD Air Products and Chemicals, Inc.	15.56%	-12.66%	8.09%	-8.95%	3.91%	13.75%	18.82%	50.02%	0.26%	17.04%

Correlation

The correlation between PLUG and APD is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Oct 29, 1999	0.25

The correlation between PLUG and APD shifts across timeframes, from 0.20 (1 year) to 0.33 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap PLUG : $3.84B APD : $62.77B
EPS PLUG : -$1.39 APD : $9.45
PS Ratio PLUG : 4.51 APD : 5.04
PB Ratio PLUG : 5.12 APD : 4.01
Total Revenue (TTM) PLUG : $739.76M APD : $12.46B
Gross Profit (TTM) PLUG : -$189.79M APD : $3.99B
EBITDA (TTM) PLUG : -$745.89M APD : $4.36B

Return for Risk

PLUG vs. APD — Risk / Return Rank

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

PLUG

PLUG Risk / Return Rank: 76
PLUG Sharpe Ratio Rank: 74
PLUG Sortino Ratio Rank: 81
PLUG Omega Ratio Rank: 75
PLUG Calmar Ratio Rank: 76
PLUG Martin Ratio Rank: 70

APD

APD Risk / Return Rank: 43
APD Sharpe Ratio Rank: 46
APD Sortino Ratio Rank: 39
APD Omega Ratio Rank: 39
APD Calmar Ratio Rank: 45
APD Martin Ratio Rank: 45

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.

PLUG vs. APD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Plug Power Inc. (PLUG) and Air Products and Chemicals, Inc. (APD). 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.

	PLUG	APD	Difference
Sharpe ratio: Return per unit of total volatility	1.05	0.08	+0.96
Sortino ratio: Return per unit of downside risk	2.28	0.31	+1.98
Omega ratio: Gain probability vs. loss probability	1.25	1.04	+0.21
Calmar ratio: Return relative to maximum drawdown	1.99	0.09	+1.90
Martin ratio: Return relative to average drawdown	3.38	0.23	+3.14

PLUG vs. APD - Sharpe Ratio Comparison

The current PLUG Sharpe Ratio is 1.05, which is higher than the APD Sharpe Ratio of 0.08. The chart below compares the historical Sharpe Ratios of PLUG and APD, 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

PLUG vs. APD - Drawdown Comparison

The maximum PLUG drawdown since its inception was -99.99%, which is greater than APD's maximum drawdown of -60.30%. Use the drawdown chart below to compare losses from any high point for PLUG and APD.

Drawdown Indicators

	PLUG	APD	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-60.30%	-39.69%
Max Drawdown (1Y) Largest decline over 1 year	-56.66%	-22.39%	-34.27%
Max Drawdown (3Y) Largest decline over 3 years	-94.69%	-30.43%	-64.26%
Max Drawdown (5Y) Largest decline over 5 years	-98.43%	-31.77%	-66.66%
Max Drawdown (10Y) Largest decline over 10 years	-99.04%	-31.77%	-67.27%
Current Drawdown Current decline from peak	-99.82%	-13.94%	-85.88%
Average Drawdown Average peak-to-trough decline	-96.21%	-11.05%	-85.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.39%	8.96%	+24.43%

Volatility

PLUG vs. APD - Volatility Comparison

Plug Power Inc. (PLUG) has a higher volatility of 26.34% compared to Air Products and Chemicals, Inc. (APD) at 5.42%. This indicates that PLUG's price experiences larger fluctuations and is considered to be riskier than APD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLUG	APD	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.34%	5.42%	+20.92%
Volatility (6M) Calculated over the trailing 6-month period	64.10%	16.03%	+48.07%
Volatility (1Y) Calculated over the trailing 1-year period	108.06%	24.82%	+83.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.54%	26.03%	+68.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.47%	25.91%	+63.56%

Dividends

PLUG vs. APD - Dividend Comparison

PLUG has not paid dividends to shareholders, while APD's dividend yield for the trailing twelve months is around 2.55%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APD Air Products and Chemicals, Inc.	2.55%	2.89%	1.83%	2.56%	2.10%	1.97%	1.96%	1.97%	2.75%	2.32%	2.39%	2.49%
PLUG Plug Power 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 PLUG and APD in my portfolio?

PLUG and APD have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLUG or APD?

PLUG has higher volatility (26.34%) compared to APD (5.42%). In terms of maximum drawdown, PLUG dropped -99.99% vs APD's -60.30%.

Which has better risk-adjusted returns?

PLUG currently has the higher Sharpe Ratio (1.05 vs 0.08), 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.