PUBM vs. DOCN

Last updated Jun 4, 2026

PUBM (PubMatic, Inc.) and DOCN (DigitalOcean Holdings, Inc.) are both stocks. Both are in the Technology sector — PUBM in Software - Application, DOCN in Software - Infrastructure. Over the past 5 years, PUBM returned -16.09%/yr vs 34.09%/yr for DOCN. At a 0.48 correlation, their price movements are largely independent.

Performance

PUBM vs. DOCN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PubMatic, Inc. (PUBM) and DigitalOcean Holdings, Inc. (DOCN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PUBM achieves a 28.30% return, which is significantly lower than DOCN's 260.93% return.

PUBM

• 1D: -5.48%
• 1M: 11.02%
• YTD: 28.30%
• 6M: 26.30%
• 1Y: -5.72%
• 3Y*: -14.44%
• 5Y*: -16.09%
• 10Y*: —

DOCN

• 1D: 0.35%
• 1M: 59.62%
• YTD: 260.93%
• 6M: 278.47%
• 1Y: 477.59%
• 3Y*: 61.23%
• 5Y*: 34.09%
• 10Y*: —

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

PUBM vs. DOCN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PUBM PubMatic, Inc.	28.30%	-39.62%	-9.93%	27.32%	-62.38%	-29.71%
DOCN DigitalOcean Holdings, Inc.	260.93%	41.24%	-7.14%	44.05%	-68.29%	89.01%

Correlation

The correlation between PUBM and DOCN is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (All Time) Calculated using the full available price history since Mar 25, 2021	0.48

The correlation between PUBM and DOCN shifts across timeframes, from 0.29 (1 year) to 0.48 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap PUBM : $536.23M DOCN : $19.44B
EPS PUBM : -$0.37 DOCN : $2.42
PS Ratio PUBM : 1.91 DOCN : 19.27
PB Ratio PUBM : 2.14 DOCN : 21.90
Total Revenue (TTM) PUBM : $281.67M DOCN : $948.63M
Gross Profit (TTM) PUBM : $178.08M DOCN : $554.86M
EBITDA (TTM) PUBM : $12.80M DOCN : $373.00M

Return for Risk

PUBM vs. DOCN — Risk / Return Rank

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

PUBM

PUBM Risk / Return Rank: 38
PUBM Sharpe Ratio Rank: 37
PUBM Sortino Ratio Rank: 39
PUBM Omega Ratio Rank: 40
PUBM Calmar Ratio Rank: 37
PUBM Martin Ratio Rank: 37

DOCN

DOCN Risk / Return Rank: 98
DOCN Sharpe Ratio Rank: 99
DOCN Sortino Ratio Rank: 98
DOCN Omega Ratio Rank: 96
DOCN Calmar Ratio Rank: 99
DOCN Martin Ratio Rank: 99

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.

PUBM vs. DOCN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PubMatic, Inc. (PUBM) and DigitalOcean Holdings, Inc. (DOCN). 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.

	PUBM	DOCN	Difference
Sharpe ratio Return per unit of total volatility	-0.08	5.90	-5.98
Sortino ratio Return per unit of downside risk	0.41	5.27	-4.86
Omega ratio Gain probability vs. loss probability	1.05	1.64	-0.59
Calmar ratio Return relative to maximum drawdown	-0.11	19.98	-20.09
Martin ratio Return relative to average drawdown	-0.17	59.48	-59.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PUBM vs. DOCN - Sharpe Ratio Comparison

The current PUBM Sharpe Ratio is -0.08, which is lower than the DOCN Sharpe Ratio of 5.90. The chart below compares the historical Sharpe Ratios of PUBM and DOCN, 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

	PUBM	DOCN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.08	5.90	-5.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.24	0.48	-0.72
Sharpe Ratio (All Time) Calculated using the full available price history	-0.22	0.44	-0.66

Drawdowns

PUBM vs. DOCN - Drawdown Comparison

The maximum PUBM drawdown since its inception was -91.02%, which is greater than DOCN's maximum drawdown of -84.78%. Use the drawdown chart below to compare losses from any high point for PUBM and DOCN.

Drawdown Indicators

	PUBM	DOCN	Difference
Max Drawdown Largest peak-to-trough decline	-91.02%	-84.78%	-6.24%
Max Drawdown (1Y) Largest decline over 1 year	-54.06%	-24.11%	-29.95%
Max Drawdown (3Y) Largest decline over 3 years	-73.86%	-60.28%	-13.58%
Max Drawdown (5Y) Largest decline over 5 years	-85.21%	-84.78%	-0.43%
Current Drawdown Current decline from peak	-83.72%	0.00%	-83.72%
Average Drawdown Average peak-to-trough decline	-70.68%	-59.22%	-11.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.30%	8.15%	+26.15%

Volatility

PUBM vs. DOCN - Volatility Comparison

The current volatility for PubMatic, Inc. (PUBM) is 15.54%, while DigitalOcean Holdings, Inc. (DOCN) has a volatility of 39.19%. This indicates that PUBM experiences smaller price fluctuations and is considered to be less risky than DOCN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PUBM	DOCN	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.54%	39.19%	-23.65%
Volatility (6M) Calculated over the trailing 6-month period	33.34%	60.64%	-27.30%
Volatility (1Y) Calculated over the trailing 1-year period	69.71%	81.78%	-12.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.41%	71.29%	-4.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.56%	70.70%	+1.86%

Dividends

PUBM vs. DOCN - Dividend Comparison

Neither PUBM nor DOCN has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

PUBM vs. DOCN - Profitability Comparison

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

PUBM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, PubMatic, Inc. reported a gross profit of 36.47M and revenue of 62.57M. Therefore, the gross margin over that period was 58.3%.

DOCN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, DigitalOcean Holdings, Inc. reported a gross profit of 144.71M and revenue of 257.91M. Therefore, the gross margin over that period was 56.1%.

PUBM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, PubMatic, Inc. reported an operating income of -15.27M and revenue of 62.57M, resulting in an operating margin of -24.4%.

DOCN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, DigitalOcean Holdings, Inc. reported an operating income of 36.57M and revenue of 257.91M, resulting in an operating margin of 14.2%.

PUBM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, PubMatic, Inc. reported a net income of -12.51M and revenue of 62.57M, resulting in a net margin of -20.0%.

DOCN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, DigitalOcean Holdings, Inc. reported a net income of 33.22M and revenue of 257.91M, resulting in a net margin of 12.9%.

Frequently Asked Questions

Can I hold both PUBM and DOCN in my portfolio?

PUBM and DOCN have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PUBM or DOCN?

DOCN has higher volatility (39.19%) compared to PUBM (15.54%). In terms of maximum drawdown, PUBM dropped -91.02% vs DOCN's -84.78%.

Which has better risk-adjusted returns?

DOCN currently has the higher Sharpe Ratio (5.90 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.