QDEL vs. ENPH

Last updated Jun 6, 2026

QDEL (Quidel Corporation) and ENPH (Enphase Energy, Inc.) are both stocks. QDEL operates in Diagnostics & Research (Healthcare), while ENPH operates in Solar (Technology). Over the past 10 years, QDEL returned -1.89%/yr vs 38.05%/yr for ENPH. At a 0.23 correlation, their price movements are largely independent.

Performance

QDEL vs. ENPH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Quidel Corporation (QDEL) and Enphase Energy, Inc. (ENPH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QDEL achieves a -49.82% return, which is significantly lower than ENPH's 74.95% return. Over the past 10 years, QDEL has underperformed ENPH with an annualized return of -1.89%, while ENPH has yielded a comparatively higher 38.05% annualized return.

QDEL

• 1D: -6.34%
• 1M: 30.75%
• YTD: -49.82%
• 6M: -48.38%
• 1Y: -52.07%
• 3Y*: -44.92%
• 5Y*: -32.74%
• 10Y*: -1.89%

ENPH

• 1D: -18.01%
• 1M: 56.62%
• YTD: 74.95%
• 6M: 79.42%
• 1Y: 35.76%
• 3Y*: -32.54%
• 5Y*: -16.08%
• 10Y*: 38.05%

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

QDEL vs. ENPH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QDEL Quidel Corporation	-49.82%	-35.89%	-39.55%	-13.97%	-36.54%	-24.86%	139.44%	53.69%	12.62%	102.38%
ENPH Enphase Energy, Inc.	74.95%	-53.33%	-48.02%	-50.13%	44.83%	4.26%	571.53%	452.43%	96.27%	138.61%

Correlation

The correlation between QDEL and ENPH is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since Apr 2, 2012	0.23

Fundamentals

Market Cap QDEL : $977.31M ENPH : $7.36B
EPS QDEL : -$17.83 ENPH : $0.92
PS Ratio QDEL : 0.37 ENPH : 5.34
PB Ratio QDEL : 0.53 ENPH : 6.68
Total Revenue (TTM) QDEL : $2.66B ENPH : $1.40B
Gross Profit (TTM) QDEL : $1.50B ENPH : $619.16M
EBITDA (TTM) QDEL : -$662.00M ENPH : $189.48M

Return for Risk

QDEL vs. ENPH — Risk / Return Rank

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

QDEL

QDEL Risk / Return Rank: 13
QDEL Sharpe Ratio Rank: 13
QDEL Sortino Ratio Rank: 16
QDEL Omega Ratio Rank: 15
QDEL Calmar Ratio Rank: 14
QDEL Martin Ratio Rank: 5

ENPH

ENPH Risk / Return Rank: 58
ENPH Sharpe Ratio Rank: 56
ENPH Sortino Ratio Rank: 60
ENPH Omega Ratio Rank: 60
ENPH Calmar Ratio Rank: 59
ENPH Martin Ratio Rank: 57

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.

QDEL vs. ENPH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Quidel Corporation (QDEL) and Enphase Energy, Inc. (ENPH). 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.

	QDEL	ENPH	Difference
Sharpe ratio: Return per unit of total volatility	-0.68	0.42	-1.10
Sortino ratio: Return per unit of downside risk	-0.73	1.26	-1.99
Omega ratio: Gain probability vs. loss probability	0.90	1.16	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.73	0.83	-1.56
Martin ratio: Return relative to average drawdown	-1.52	1.50	-3.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QDEL vs. ENPH - Sharpe Ratio Comparison

The current QDEL Sharpe Ratio is -0.68, which is lower than the ENPH Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of QDEL and ENPH, 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

	QDEL	ENPH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.68	0.42	-1.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.55	-0.23	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.03	0.49	-0.52
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	0.19	-0.13

Drawdowns

QDEL vs. ENPH - Drawdown Comparison

The maximum QDEL drawdown since its inception was -96.70%, roughly equal to the maximum ENPH drawdown of -95.97%. Use the drawdown chart below to compare losses from any high point for QDEL and ENPH.

Drawdown Indicators

	QDEL	ENPH	Difference
Max Drawdown Largest peak-to-trough decline	-96.70%	-95.97%	-0.73%
Max Drawdown (1Y) Largest decline over 1 year	-71.85%	-43.13%	-28.72%
Max Drawdown (3Y) Largest decline over 3 years	-88.76%	-86.23%	-2.53%
Max Drawdown (5Y) Largest decline over 5 years	-94.30%	-92.23%	-2.07%
Max Drawdown (10Y) Largest decline over 10 years	-96.70%	-92.23%	-4.47%
Current Drawdown Current decline from peak	-95.25%	-83.31%	-11.94%
Average Drawdown Average peak-to-trough decline	-40.14%	-50.54%	+10.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.28%	23.83%	+10.45%

Volatility

QDEL vs. ENPH - Volatility Comparison

The current volatility for Quidel Corporation (QDEL) is 25.09%, while Enphase Energy, Inc. (ENPH) has a volatility of 39.69%. This indicates that QDEL experiences smaller price fluctuations and is considered to be less risky than ENPH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDEL	ENPH	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.09%	39.69%	-14.60%
Volatility (6M) Calculated over the trailing 6-month period	63.76%	65.45%	-1.69%
Volatility (1Y) Calculated over the trailing 1-year period	77.03%	86.37%	-9.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.81%	70.08%	-10.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.57%	78.22%	-20.65%

Dividends

QDEL vs. ENPH - Dividend Comparison

Neither QDEL nor ENPH has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

QDEL vs. ENPH - Profitability Comparison

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

QDEL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Quidel Corporation reported a gross profit of 573.00M and revenue of 619.80M. Therefore, the gross margin over that period was 92.5%.

ENPH - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Enphase Energy, Inc. reported a gross profit of 100.39M and revenue of 282.90M. Therefore, the gross margin over that period was 35.5%.

QDEL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Quidel Corporation reported an operating income of -31.80M and revenue of 619.80M, resulting in an operating margin of -5.1%.

ENPH - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Enphase Energy, Inc. reported an operating income of -29.64M and revenue of 282.90M, resulting in an operating margin of -10.5%.

QDEL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Quidel Corporation reported a net income of -91.80M and revenue of 619.80M, resulting in a net margin of -14.8%.

ENPH - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Enphase Energy, Inc. reported a net income of -20.31M and revenue of 282.90M, resulting in a net margin of -7.2%.

Frequently Asked Questions

Can I hold both QDEL and ENPH in my portfolio?

QDEL and ENPH have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QDEL or ENPH?

ENPH has higher volatility (39.69%) compared to QDEL (25.09%). In terms of maximum drawdown, QDEL dropped -96.70% vs ENPH's -95.97%.

Which has better risk-adjusted returns?

ENPH currently has the higher Sharpe Ratio (0.42 vs -0.68), 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.