SLNH vs. HYLN

Last updated Aug 1, 2026

SLNH (Soluna Holdings, Inc.) and HYLN (Hyliion Holdings Corp.) are both stocks. SLNH operates in Scientific & Technical Instruments (Technology), while HYLN operates in Auto Parts (Consumer Cyclical). Over the past 5 years, SLNH returned -63.56%/yr vs -18.17%/yr for HYLN. Their 0.28 correlation means their historical movements had little consistent relationship.

Performance

SLNH vs. HYLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Soluna Holdings, Inc. (SLNH) and Hyliion Holdings Corp. (HYLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLNH achieves a 4.27% return, which is significantly lower than HYLN's 93.48% return.

SLNH

• 1D: -6.15%
• 1M: 2.52%
• 6M: 15.09%
• YTD: 4.27%
• 1Y: 184.58%
• 3Y*: -45.89%
• 5Y*: -63.56%
• 10Y*: -18.19%
• ALL TIME*: -10.50%

HYLN

• 1D: -1.66%
• 1M: -17.59%
• 6M: 73.66%
• YTD: 93.48%
• 1Y: 154.29%
• 3Y*: 23.28%
• 5Y*: -18.17%
• 10Y*: —
• ALL TIME*: -12.87%

*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)
HYLN Hyliion Holdings Corp.	$10.60M	$10.69M	$27.30M
SLNH Soluna Holdings, Inc.	$16.46M	$17.43M	$32.47M

SLNH vs. HYLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SLNH Soluna Holdings, Inc.	4.27%	-44.29%	-47.50%	-38.67%	-97.58%	128.45%	602.99%	-48.46%
HYLN Hyliion Holdings Corp.	93.48%	-29.50%	220.76%	-65.23%	-62.26%	-62.38%	64.96%	2.99%

Correlation

The correlation between SLNH and HYLN is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (3Y) Balances recent behavior with more history.	0.28
Correlation (5Y) Shows whether the relationship held over a longer period.	0.32
Correlation (All Time) Calculated using the full available price history since Apr 22, 2019	0.28

The correlation between SLNH and HYLN shifts across timeframes, from 0.28 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap SLNH : $192.45M HYLN : $634.84M
EPS SLNH : -$1.36 HYLN : -$0.29
PS Ratio SLNH : 1.72 HYLN : 108.04
PB Ratio SLNH : 2.17 HYLN : 3.48
Total Revenue (TTM) SLNH : $33.18M HYLN : $5.82M
Gross Profit (TTM) SLNH : $28.87M HYLN : $368.00K
EBITDA (TTM) SLNH : -$25.84M HYLN : -$50.90M

Return for Risk

SLNH vs. HYLN — Risk / Return Rank

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

SLNH

SLNH Risk / Return Rank: 79
SLNH Sharpe Ratio Rank: 72
SLNH Sortino Ratio Rank: 91
SLNH Omega Ratio Rank: 84
SLNH Calmar Ratio Rank: 78
SLNH Martin Ratio Rank: 69

HYLN

HYLN Risk / Return Rank: 82
HYLN Sharpe Ratio Rank: 82
HYLN Sortino Ratio Rank: 84
HYLN Omega Ratio Rank: 81
HYLN Calmar Ratio Rank: 82
HYLN Martin Ratio Rank: 82

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.

SLNH vs. HYLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Soluna Holdings, Inc. (SLNH) and Hyliion Holdings Corp. (HYLN). 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.

	SLNH	HYLN	Difference
Sharpe ratio: Return per unit of total volatility	0.86	1.32	-0.47
Sortino ratio: Return per unit of downside risk	2.82	2.31	+0.52
Omega ratio: Gain probability vs. loss probability	1.30	1.27	+0.02
Calmar ratio: Return relative to maximum drawdown	1.94	2.30	-0.36
Martin ratio: Return relative to average drawdown	2.76	5.83	-3.07

SLNH vs. HYLN - Sharpe Ratio Comparison

The current SLNH Sharpe Ratio is 0.86, which is lower than the HYLN Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of SLNH and HYLN, 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

SLNH vs. HYLN - Drawdown Comparison

The maximum SLNH drawdown since its inception was -99.90%, roughly equal to the maximum HYLN drawdown of -99.03%. Use the drawdown chart below to compare losses from any high point for SLNH and HYLN.

Drawdown Indicators

	SLNH	HYLN	Difference
Max Drawdown Largest peak-to-trough decline	-99.90%	-99.03%	-0.87%
Max Drawdown (1Y) Largest decline over 1 year	-86.26%	-60.00%	-26.26%
Max Drawdown (3Y) Largest decline over 3 years	-94.85%	-70.31%	-24.54%
Max Drawdown (5Y) Largest decline over 5 years	-99.90%	-94.50%	-5.40%
Max Drawdown (10Y) Largest decline over 10 years	-99.90%	—	—
Current Drawdown Current decline from peak	-99.71%	-93.63%	-6.08%
Average Drawdown Average peak-to-trough decline	-57.41%	-74.25%	+16.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	60.58%	23.65%	+36.93%

Volatility

SLNH vs. HYLN - Volatility Comparison

Soluna Holdings, Inc. (SLNH) has a higher volatility of 33.91% compared to Hyliion Holdings Corp. (HYLN) at 27.29%. This indicates that SLNH's price experiences larger fluctuations and is considered to be riskier than HYLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLNH	HYLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.91%	27.29%	+6.62%
Volatility (6M) Calculated over the trailing 6-month period	101.48%	85.65%	+15.83%
Volatility (1Y) Calculated over the trailing 1-year period	194.84%	104.39%	+90.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	144.65%	90.87%	+53.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	128.93%	89.20%	+39.73%

Dividends

SLNH vs. HYLN - Dividend Comparison

Neither SLNH nor HYLN has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
HYLN Hyliion Holdings Corp.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SLNH Soluna Holdings, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	110.45%

Financials

Frequently Asked Questions

Can I hold both SLNH and HYLN in my portfolio?

SLNH and HYLN have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SLNH or HYLN?

SLNH has higher volatility (33.91%) compared to HYLN (27.29%). In terms of maximum drawdown, SLNH dropped -99.90% vs HYLN's -99.03%.

Which has better risk-adjusted returns?

HYLN currently has the higher Sharpe Ratio (1.32 vs 0.86), 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.