SLS vs. AEHR

Last updated Jun 4, 2026

SLS (SELLAS Life Sciences Group, Inc.) and AEHR (Aehr Test Systems) are both stocks. SLS operates in Biotechnology (Healthcare), while AEHR operates in Semiconductor Equipment & Materials (Technology). Over the past 5 years, SLS returned -4.88%/yr vs 111.15%/yr for AEHR. At a 0.21 correlation, their price movements are largely independent.

Performance

SLS vs. AEHR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SELLAS Life Sciences Group, Inc. (SLS) and Aehr Test Systems (AEHR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLS achieves a 117.24% return, which is significantly lower than AEHR's 467.56% return.

SLS

• 1D: -1.68%
• 1M: 63.15%
• YTD: 117.24%
• 6M: 431.82%
• 1Y: 399.39%
• 3Y*: 68.56%
• 5Y*: -4.88%
• 10Y*: —

AEHR

• 1D: 1.41%
• 1M: 33.85%
• YTD: 467.56%
• 6M: 362.80%
• 1Y: 1,019.04%
• 3Y*: 40.45%
• 5Y*: 111.15%
• 10Y*: 60.03%

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

SLS vs. AEHR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SLS SELLAS Life Sciences Group, Inc.	117.24%	262.50%	-1.89%	-55.08%	-57.32%	-4.82%	35.12%	-93.01%	-84.23%
AEHR Aehr Test Systems	467.56%	21.41%	-37.32%	31.99%	-16.87%	855.73%	26.50%	41.84%	-47.97%

Correlation

The correlation between SLS and AEHR is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jan 2, 2018	0.21

Fundamentals

Market Cap SLS : $1.41B AEHR : $3.52B
EPS SLS : -$0.22 AEHR : -$0.38
PB Ratio SLS : 13.15 AEHR : 25.34
Total Revenue (TTM) SLS : $0.00 AEHR : $45.26M
Gross Profit (TTM) SLS : $0.00 AEHR : $13.90M
EBITDA (TTM) SLS : -$23.82M AEHR : -$13.56M

Return for Risk

SLS vs. AEHR — Risk / Return Rank

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

SLS

SLS Risk / Return Rank: 95
SLS Sharpe Ratio Rank: 98
SLS Sortino Ratio Rank: 94
SLS Omega Ratio Rank: 90
SLS Calmar Ratio Rank: 98
SLS Martin Ratio Rank: 96

AEHR

AEHR Risk / Return Rank: 98
AEHR Sharpe Ratio Rank: 100
AEHR Sortino Ratio Rank: 97
AEHR Omega Ratio Rank: 94
AEHR Calmar Ratio Rank: 99
AEHR 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.

SLS vs. AEHR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SELLAS Life Sciences Group, Inc. (SLS) and Aehr Test Systems (AEHR). 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.

	SLS	AEHR	Difference
Sharpe ratio: Return per unit of total volatility	4.25	8.73	-4.47
Sortino ratio: Return per unit of downside risk	3.79	4.86	-1.07
Omega ratio: Gain probability vs. loss probability	1.44	1.57	-0.12
Calmar ratio: Return relative to maximum drawdown	11.02	24.34	-13.32
Martin ratio: Return relative to average drawdown	22.17	55.12	-32.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SLS vs. AEHR - Sharpe Ratio Comparison

The current SLS Sharpe Ratio is 4.25, which is lower than the AEHR Sharpe Ratio of 8.73. The chart below compares the historical Sharpe Ratios of SLS and AEHR, 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

	SLS	AEHR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.25	8.73	-4.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.05	1.02	-1.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.63	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.28	0.08	-0.36

Drawdowns

SLS vs. AEHR - Drawdown Comparison

The maximum SLS drawdown since its inception was -99.89%, roughly equal to the maximum AEHR drawdown of -97.98%. Use the drawdown chart below to compare losses from any high point for SLS and AEHR.

Drawdown Indicators

	SLS	AEHR	Difference
Max Drawdown Largest peak-to-trough decline	-99.89%	-97.98%	-1.91%
Max Drawdown (1Y) Largest decline over 1 year	-36.53%	-42.31%	+5.78%
Max Drawdown (3Y) Largest decline over 3 years	-72.35%	-87.37%	+15.02%
Max Drawdown (5Y) Largest decline over 5 years	-96.31%	-87.37%	-8.94%
Max Drawdown (10Y) Largest decline over 10 years	—	-87.37%	—
Current Drawdown Current decline from peak	-98.17%	0.00%	-98.17%
Average Drawdown Average peak-to-trough decline	-93.72%	-79.66%	-14.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.12%	18.65%	-0.53%

Volatility

SLS vs. AEHR - Volatility Comparison

SELLAS Life Sciences Group, Inc. (SLS) and Aehr Test Systems (AEHR) have volatilities of 38.88% and 38.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLS	AEHR	Difference
Volatility (1M) Calculated over the trailing 1-month period	38.88%	38.83%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	77.72%	86.27%	-8.55%
Volatility (1Y) Calculated over the trailing 1-year period	94.68%	118.12%	-23.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.18%	109.54%	-14.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	133.54%	94.96%	+38.58%

Dividends

SLS vs. AEHR - Dividend Comparison

Neither SLS nor AEHR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both SLS and AEHR in my portfolio?

SLS and AEHR have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SLS or AEHR?

SLS has higher volatility (38.88%) compared to AEHR (38.83%). In terms of maximum drawdown, SLS dropped -99.89% vs AEHR's -97.98%.

Which has better risk-adjusted returns?

AEHR currently has the higher Sharpe Ratio (8.73 vs 4.25), 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.