TERN vs. AXTI

Last updated Apr 1, 2026

Compare and contrast key facts about Terns Pharmaceuticals, Inc. (TERN) and AXT, Inc. (AXTI).

Performance

TERN vs. AXTI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Terns Pharmaceuticals, Inc. (TERN) and AXT, Inc. (AXTI). The values are adjusted to include any dividend payments, if applicable.

TERN vs. AXTI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TERN Terns Pharmaceuticals, Inc.	30.50%	629.24%	-14.64%	-36.25%	43.99%	-61.56%
AXTI AXT, Inc.	248.50%	653.46%	-9.58%	-45.21%	-50.28%	-21.55%

Fundamentals

EPS TERN : -$1.03 AXTI : -$0.48
Total Revenue (TTM) TERN : $0.00 AXTI : $88.33M
Gross Profit (TTM) TERN : -$108.00K AXTI : $11.24M
EBITDA (TTM) TERN : -$101.49M AXTI : -$14.38M

Returns By Period

In the year-to-date period, TERN achieves a 30.50% return, which is significantly lower than AXTI's 248.50% return.

TERN

• 1D: -0.30%
• 1M: 25.17%
• YTD: 30.50%
• 6M: 602.00%
• 1Y: 1,810.14%
• 3Y*: 64.52%
• 5Y*: 20.66%
• 10Y*: —

AXTI

• 1D: 8.06%
• 1M: 50.34%
• YTD: 248.50%
• 6M: 1,169.04%
• 1Y: 3,941.13%
• 3Y*: 142.82%
• 5Y*: 35.86%
• 10Y*: 36.43%

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

Return for Risk

TERN vs. AXTI — Risk / Return Rank

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

TERN

TERN Risk / Return Rank: 100
TERN Sharpe Ratio Rank: 100
TERN Sortino Ratio Rank: 100
TERN Omega Ratio Rank: 99
TERN Calmar Ratio Rank: 100
TERN Martin Ratio Rank: 100

AXTI

AXTI Risk / Return Rank: 100
AXTI Sharpe Ratio Rank: 100
AXTI Sortino Ratio Rank: 99
AXTI Omega Ratio Rank: 99
AXTI Calmar Ratio Rank: 100
AXTI Martin Ratio Rank: 100

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.

TERN vs. AXTI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Terns Pharmaceuticals, Inc. (TERN) and AXT, Inc. (AXTI). 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.

	TERN	AXTI	Difference
Sharpe ratio Return per unit of total volatility	17.29	32.68	-15.39
Sortino ratio Return per unit of downside risk	8.80	6.95	+1.85
Omega ratio Gain probability vs. loss probability	2.08	1.86	+0.22
Calmar ratio Return relative to maximum drawdown	61.87	102.50	-40.63
Martin ratio Return relative to average drawdown	153.05	305.89	-152.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TERN vs. AXTI - Sharpe Ratio Comparison

The current TERN Sharpe Ratio is 17.29, which is lower than the AXTI Sharpe Ratio of 32.68. The chart below compares the historical Sharpe Ratios of TERN and AXTI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TERN	AXTI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	17.29	32.68	-15.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.40	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.46	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.08	+0.16

Correlation

The correlation between TERN and AXTI is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

TERN vs. AXTI - Dividend Comparison

Neither TERN nor AXTI has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

TERN vs. AXTI - Drawdown Comparison

The maximum TERN drawdown since its inception was -94.50%, roughly equal to the maximum AXTI drawdown of -98.57%. Use the drawdown chart below to compare losses from any high point for TERN and AXTI.

Drawdown Indicators

	TERN	AXTI	Difference
Max Drawdown Largest peak-to-trough decline	-94.50%	-98.57%	+4.07%
Max Drawdown (1Y) Largest decline over 1 year	-27.56%	-36.59%	+9.03%
Max Drawdown (5Y) Largest decline over 5 years	-93.18%	-90.65%	-2.53%
Max Drawdown (10Y) Largest decline over 10 years	—	-92.45%	—
Current Drawdown Current decline from peak	-0.85%	-16.74%	+15.89%
Average Drawdown Average peak-to-trough decline	-67.45%	-82.78%	+15.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.14%	12.26%	-1.12%

Volatility

TERN vs. AXTI - Volatility Comparison

The current volatility for Terns Pharmaceuticals, Inc. (TERN) is 11.57%, while AXT, Inc. (AXTI) has a volatility of 49.61%. This indicates that TERN experiences smaller price fluctuations and is considered to be less risky than AXTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TERN	AXTI	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.57%	49.61%	-38.04%
Volatility (6M) Calculated over the trailing 6-month period	75.90%	100.03%	-24.13%
Volatility (1Y) Calculated over the trailing 1-year period	106.22%	122.61%	-16.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.73%	91.12%	+4.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.22%	79.43%	+17.79%

Financials