PODD vs. PEN

Last updated Aug 1, 2026

PODD (Insulet Corporation) and PEN (Penumbra, Inc.) are both stocks. Both operate in the Medical Devices industry within the Healthcare sector. Over the past 10 years, PODD returned 16.70%/yr vs 16.73%/yr for PEN. Their 0.43 correlation means their historical movements had little consistent relationship.

Performance

PODD vs. PEN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Insulet Corporation (PODD) and Penumbra, Inc. (PEN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PODD achieves a -41.83% return, which is significantly lower than PEN's 3.31% return. Both investments have delivered pretty close results over the past 10 years, with PODD having a 16.70% annualized return and PEN not far ahead at 16.73%.

PODD

• 1D: -0.20%
• 1M: 0.53%
• 6M: -35.36%
• YTD: -41.83%
• 1Y: -41.96%
• 3Y*: -15.18%
• 5Y*: -9.98%
• 10Y*: 16.70%
• ALL TIME*: 12.57%

PEN

• 1D: 0.43%
• 1M: 0.82%
• 6M: -10.32%
• YTD: 3.31%
• 1Y: 32.17%
• 3Y*: 2.49%
• 5Y*: 3.82%
• 10Y*: 16.73%
• ALL TIME*: 21.13%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PEN Penumbra, Inc.	$134.82M	$123.94M	$132.27M
PODD Insulet Corporation	$206.30M	$208.54M	$240.19M

PODD vs. PEN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PODD Insulet Corporation	-41.83%	8.88%	20.32%	-26.30%	10.64%	4.08%	49.32%	115.83%	14.96%	83.12%
PEN Penumbra, Inc.	3.31%	30.92%	-5.59%	13.07%	-22.57%	64.18%	6.53%	34.43%	29.86%	47.49%

Correlation

The correlation between PODD and PEN is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.39
Correlation (3Y) Balances recent behavior with more history.	0.40
Correlation (5Y) Shows whether the relationship held over a longer period.	0.45
Correlation (10Y) Provides a long-term view across more market conditions.	0.44
Correlation (All Time) Calculated using the full available price history since Sep 18, 2015	0.43

Fundamentals

Market Cap PODD : $11.45B PEN : $12.63B
EPS PODD : $4.29 PEN : $4.07
PE Ratio PODD : 38.50 PEN : 78.91
PEG Ratio PODD : 0.04 PEN : 0.12
PS Ratio PODD : 4.02 PEN : 8.42
PB Ratio PODD : 8.91 PEN : 8.30
Total Revenue (TTM) PODD : $2.90B PEN : $1.50B
Gross Profit (TTM) PODD : $2.06B PEN : $1.02B
EBITDA (TTM) PODD : $529.70M PEN : $210.86M

Return for Risk

PODD vs. PEN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PODD

PODD Risk / Return Rank: 10
PODD Sharpe Ratio Rank: 4
PODD Sortino Ratio Rank: 6
PODD Omega Ratio Rank: 6
PODD Calmar Ratio Rank: 17
PODD Martin Ratio Rank: 14

PEN

PEN Risk / Return Rank: 75
PEN Sharpe Ratio Rank: 73
PEN Sortino Ratio Rank: 77
PEN Omega Ratio Rank: 80
PEN Calmar Ratio Rank: 71
PEN Martin Ratio Rank: 72

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PODD vs. PEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Insulet Corporation (PODD) and Penumbra, Inc. (PEN). 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.

	PODD	PEN	Difference
Sharpe ratio: Return per unit of total volatility	-1.07	0.89	-1.96
Sortino ratio: Return per unit of downside risk	-1.53	1.83	-3.37
Omega ratio: Gain probability vs. loss probability	0.81	1.26	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.71	1.28	-1.99
Martin ratio: Return relative to average drawdown	-1.23	3.26	-4.49

PODD vs. PEN - Sharpe Ratio Comparison

The current PODD Sharpe Ratio is -1.07, which is lower than the PEN Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of PODD and PEN, 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

PODD vs. PEN - Drawdown Comparison

The maximum PODD drawdown since its inception was -90.28%, which is greater than PEN's maximum drawdown of -62.64%. Use the drawdown chart below to compare losses from any high point for PODD and PEN.

Drawdown Indicators

	PODD	PEN	Difference
Max Drawdown Largest peak-to-trough decline	-90.28%	-62.64%	-27.64%
Max Drawdown (1Y) Largest decline over 1 year	-60.61%	-21.44%	-39.17%
Max Drawdown (3Y) Largest decline over 3 years	-60.61%	-45.46%	-15.15%
Max Drawdown (5Y) Largest decline over 5 years	-61.31%	-60.14%	-1.17%
Max Drawdown (10Y) Largest decline over 10 years	-61.31%	-62.64%	+1.33%
Current Drawdown Current decline from peak	-53.13%	-10.63%	-42.50%
Average Drawdown Average peak-to-trough decline	-25.20%	-17.49%	-7.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.66%	8.43%	+26.23%

Volatility

PODD vs. PEN - Volatility Comparison

Insulet Corporation (PODD) has a higher volatility of 9.40% compared to Penumbra, Inc. (PEN) at 1.76%. This indicates that PODD's price experiences larger fluctuations and is considered to be riskier than PEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PODD	PEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.40%	1.76%	+7.64%
Volatility (6M) Calculated over the trailing 6-month period	32.65%	7.28%	+25.37%
Volatility (1Y) Calculated over the trailing 1-year period	40.04%	30.76%	+9.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.96%	40.87%	+2.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.63%	41.27%	+1.36%

Dividends

PODD vs. PEN - Dividend Comparison

Neither PODD nor PEN has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

PODD vs. PEN - Profitability Comparison

The chart below illustrates the profitability comparison between Insulet Corporation and Penumbra, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

PODD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Insulet Corporation reported a gross profit of 529.10M and revenue of 761.70M. Therefore, the gross margin over that period was 69.5%.

PEN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Penumbra, Inc. reported a gross profit of 264.94M and revenue of 390.05M. Therefore, the gross margin over that period was 67.9%.

PODD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Insulet Corporation reported an operating income of 122.10M and revenue of 761.70M, resulting in an operating margin of 16.0%.

PEN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Penumbra, Inc. reported an operating income of 41.04M and revenue of 390.05M, resulting in an operating margin of 10.5%.

PODD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Insulet Corporation reported a net income of 91.10M and revenue of 761.70M, resulting in a net margin of 12.0%.

PEN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Penumbra, Inc. reported a net income of 34.81M and revenue of 390.05M, resulting in a net margin of 8.9%.

Frequently Asked Questions

Can I hold both PODD and PEN in my portfolio?

PODD and PEN have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PODD or PEN?

PODD has higher volatility (9.40%) compared to PEN (1.76%). In terms of maximum drawdown, PODD dropped -90.28% vs PEN's -62.64%.

Which has better risk-adjusted returns?

PEN currently has the higher Sharpe Ratio (0.89 vs -1.07), 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.