RANI vs. HOWL

Last updated Jun 6, 2026

RANI (Rani Therapeutics Holdings, Inc.) and HOWL (Werewolf Therapeutics, Inc.) are both stocks. Both operate in the Biotechnology industry within the Healthcare sector. Over the past 3 years, RANI returned -44.79%/yr vs -51.65%/yr for HOWL. At a 0.17 correlation, their price movements are largely independent.

Performance

RANI vs. HOWL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rani Therapeutics Holdings, Inc. (RANI) and Werewolf Therapeutics, Inc. (HOWL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with RANI having a -38.56% return and HOWL slightly higher at -38.07%.

RANI

• 1D: -7.69%
• 1M: -10.90%
• YTD: -38.56%
• 6M: -47.83%
• 1Y: 48.12%
• 3Y*: -44.79%
• 5Y*: —
• 10Y*: —

HOWL

• 1D: -8.77%
• 1M: -36.73%
• YTD: -38.07%
• 6M: -58.78%
• 1Y: -72.37%
• 3Y*: -51.65%
• 5Y*: -49.84%
• 10Y*: —

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

RANI vs. HOWL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RANI Rani Therapeutics Holdings, Inc.	-38.56%	-1.46%	-58.73%	-43.73%	-63.91%	48.64%
HOWL Werewolf Therapeutics, Inc.	-38.07%	-57.20%	-61.66%	88.29%	-82.79%	-31.63%

Correlation

The correlation between RANI and HOWL is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (All Time) Calculated using the full available price history since Aug 2, 2021	0.17

Fundamentals

Market Cap RANI : $149.31M HOWL : $19.37M
EPS RANI : -$0.29 HOWL : -$1.20
PB Ratio RANI : 5.26 HOWL : 1.59
Total Revenue (TTM) RANI : $1.46M HOWL : $0.00
Gross Profit (TTM) RANI : $1.05M HOWL : -$804.00K
EBITDA (TTM) RANI : -$34.21M HOWL : -$46.78M

Return for Risk

RANI vs. HOWL — Risk / Return Rank

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

RANI

RANI Risk / Return Rank: 68
RANI Sharpe Ratio Rank: 49
RANI Sortino Ratio Rank: 90
RANI Omega Ratio Rank: 89
RANI Calmar Ratio Rank: 59
RANI Martin Ratio Rank: 55

HOWL

HOWL Risk / Return Rank: 12
HOWL Sharpe Ratio Rank: 12
HOWL Sortino Ratio Rank: 12
HOWL Omega Ratio Rank: 13
HOWL Calmar Ratio Rank: 10
HOWL Martin Ratio Rank: 11

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.

RANI vs. HOWL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rani Therapeutics Holdings, Inc. (RANI) and Werewolf Therapeutics, Inc. (HOWL). 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.

	RANI	HOWL	Difference
Sharpe ratio: Return per unit of total volatility	0.21	-0.71	+0.91
Sortino ratio: Return per unit of downside risk	3.18	-0.94	+4.12
Omega ratio: Gain probability vs. loss probability	1.41	0.89	+0.53
Calmar ratio: Return relative to maximum drawdown	0.77	-0.83	+1.60
Martin ratio: Return relative to average drawdown	1.24	-1.32	+2.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RANI vs. HOWL - Sharpe Ratio Comparison

The current RANI Sharpe Ratio is 0.21, which is higher than the HOWL Sharpe Ratio of -0.71. The chart below compares the historical Sharpe Ratios of RANI and HOWL, 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

	RANI	HOWL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.21	-0.71	+0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.27	-0.51	+0.24

Drawdowns

RANI vs. HOWL - Drawdown Comparison

The maximum RANI drawdown since its inception was -98.83%, roughly equal to the maximum HOWL drawdown of -98.07%. Use the drawdown chart below to compare losses from any high point for RANI and HOWL.

Drawdown Indicators

	RANI	HOWL	Difference
Max Drawdown Largest peak-to-trough decline	-98.83%	-98.07%	-0.76%
Max Drawdown (1Y) Largest decline over 1 year	-74.22%	-82.09%	+7.87%
Max Drawdown (3Y) Largest decline over 3 years	-94.78%	-95.04%	+0.26%
Max Drawdown (5Y) Largest decline over 5 years	—	-98.07%	—
Current Drawdown Current decline from peak	-97.63%	-98.07%	+0.44%
Average Drawdown Average peak-to-trough decline	-80.56%	-76.87%	-3.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.16%	51.51%	-5.35%

Volatility

RANI vs. HOWL - Volatility Comparison

Rani Therapeutics Holdings, Inc. (RANI) has a higher volatility of 34.34% compared to Werewolf Therapeutics, Inc. (HOWL) at 27.05%. This indicates that RANI's price experiences larger fluctuations and is considered to be riskier than HOWL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RANI	HOWL	Difference
Volatility (1M) Calculated over the trailing 1-month period	34.34%	27.05%	+7.29%
Volatility (6M) Calculated over the trailing 6-month period	61.44%	79.78%	-18.34%
Volatility (1Y) Calculated over the trailing 1-year period	274.85%	96.70%	+178.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	155.95%	102.55%	+53.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	155.95%	102.28%	+53.67%

Dividends

RANI vs. HOWL - Dividend Comparison

Neither RANI nor HOWL has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both RANI and HOWL in my portfolio?

RANI and HOWL have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RANI or HOWL?

RANI has higher volatility (34.34%) compared to HOWL (27.05%). In terms of maximum drawdown, RANI dropped -98.83% vs HOWL's -98.07%.

Which has better risk-adjusted returns?

RANI currently has the higher Sharpe Ratio (0.21 vs -0.71), 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.