SHOP vs. INOD
SHOP (Shopify Inc.) and INOD (Innodata Inc.) are both stocks. Both are in the Technology sector — SHOP in Software - Application, INOD in Information Technology Services. Over the past 10 years, SHOP returned 43.59%/yr vs 45.64%/yr for INOD. At a 0.24 correlation, their price movements are largely independent.
Performance
SHOP vs. INOD - Performance Comparison
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Returns By Period
In the year-to-date period, SHOP achieves a -32.76% return, which is significantly lower than INOD's 98.04% return. Both investments have delivered pretty close results over the past 10 years, with SHOP having a 43.59% annualized return and INOD not far ahead at 45.64%.
SHOP
- 1D
- -2.02%
- 1M
- 13.46%
- YTD
- -32.76%
- 6M
- -34.08%
- 1Y
- -0.89%
- 3Y*
- 19.24%
- 5Y*
- -2.79%
- 10Y*
- 43.59%
INOD
- 1D
- -4.23%
- 1M
- 12.17%
- YTD
- 98.04%
- 6M
- 92.56%
- 1Y
- 137.86%
- 3Y*
- 114.32%
- 5Y*
- 69.37%
- 10Y*
- 45.64%
SHOP vs. INOD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHOP Shopify Inc. | -32.76% | 51.39% | 36.50% | 124.43% | -74.80% | 21.68% | 184.71% | 187.17% | 37.08% | 135.60% |
INOD Innodata Inc. | 98.04% | 28.92% | 385.50% | 174.54% | -49.92% | 11.70% | 364.91% | -24.00% | 10.29% | -44.49% |
Correlation
The correlation between SHOP and INOD is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since May 21, 2015 | 0.25 |
Over the past year, SHOP and INOD have become more correlated (0.46) than their long-term average of 0.24, meaning their price movements have been converging.
Fundamentals
SHOP:
$141.08B
INOD:
$3.59B
SHOP:
$1.02
INOD:
$1.11
SHOP:
106.25
INOD:
90.91
SHOP:
0.20
INOD:
0.02
SHOP:
15.39
INOD:
12.60
SHOP:
11.29
INOD:
28.00
SHOP:
$9.20B
INOD:
$283.42M
SHOP:
$5.93B
INOD:
$76.88M
SHOP:
$1.60B
INOD:
$37.35M
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Return for Risk
SHOP vs. INOD — Risk / Return Rank
SHOP
INOD
SHOP vs. INOD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Shopify Inc. (SHOP) and Innodata Inc. (INOD). 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.
| SHOP | INOD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.15 | ||
| Sortino ratioReturn per unit of downside risk | -2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.31 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 2.20 | -2.22 |
| Martin ratioReturn relative to average drawdown | -0.04 | 3.97 | -4.01 |
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Drawdowns
SHOP vs. INOD - Drawdown Comparison
The maximum SHOP drawdown since its inception was -84.82%, smaller than the maximum INOD drawdown of -95.47%. Use the drawdown chart below to compare losses from any high point for SHOP and INOD.
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Drawdown Indicators
| SHOP | INOD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.82% | -95.47% | +10.65% |
Max Drawdown (1Y)Largest decline over 1 year | -46.71% | -63.03% | +16.32% |
Max Drawdown (3Y)Largest decline over 3 years | -46.71% | -63.03% | +16.32% |
Max Drawdown (5Y)Largest decline over 5 years | -84.82% | -74.44% | -10.38% |
Max Drawdown (10Y)Largest decline over 10 years | -84.82% | -74.44% | -10.38% |
Current DrawdownCurrent decline from peak | -39.53% | -16.95% | -22.58% |
Average DrawdownAverage peak-to-trough decline | -28.23% | -60.07% | +31.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.27% | 34.83% | -12.56% |
Volatility
SHOP vs. INOD - Volatility Comparison
The current volatility for Shopify Inc. (SHOP) is 15.38%, while Innodata Inc. (INOD) has a volatility of 32.31%. This indicates that SHOP experiences smaller price fluctuations and is considered to be less risky than INOD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHOP | INOD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.38% | 32.31% | -16.93% |
Volatility (6M)Calculated over the trailing 6-month period | 43.41% | 89.40% | -45.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.03% | 122.08% | -65.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 65.55% | 106.74% | -41.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.07% | 89.36% | -30.29% |
Dividends
SHOP vs. INOD - Dividend Comparison
Neither SHOP nor INOD has paid dividends to shareholders.
Financials
SHOP vs. INOD - Financials Comparison
This section allows you to compare key financial metrics between Shopify Inc. and Innodata Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
SHOP and INOD have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INOD has higher volatility (32.31%) compared to SHOP (15.38%). In terms of maximum drawdown, SHOP dropped -84.82% vs INOD's -95.47%.
INOD currently has the higher Sharpe Ratio (1.14 vs -0.02), 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.
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