THCH vs. AFRM
THCH (TH International Limited) and AFRM (Affirm Holdings, Inc.) are both stocks. THCH operates in Restaurants (Consumer Cyclical), while AFRM operates in Information Technology Services (Technology). Over the past 3 years, THCH returned -51.30%/yr vs 70.98%/yr for AFRM. At a 0.09 correlation, their price movements are largely independent.
Performance
THCH vs. AFRM - Performance Comparison
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Returns By Period
In the year-to-date period, THCH achieves a -28.11% return, which is significantly lower than AFRM's 10.08% return.
THCH
- 1D
- -0.56%
- 1M
- 3.47%
- 6M
- -24.79%
- YTD
- -28.11%
- 1Y
- -40.73%
- 3Y*
- -51.30%
- 5Y*
- —
- 10Y*
- —
AFRM
- 1D
- -1.79%
- 1M
- 23.82%
- 6M
- 7.25%
- YTD
- 10.08%
- 1Y
- 26.59%
- 3Y*
- 70.98%
- 5Y*
- 7.62%
- 10Y*
- —
THCH vs. AFRM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
THCH TH International Limited | -28.11% | -29.86% | -59.43% | -37.05% | -52.64% |
AFRM Affirm Holdings, Inc. | 10.08% | 22.22% | 23.93% | 408.17% | -53.19% |
Correlation
The correlation between THCH and AFRM is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2022 | 0.09 |
Fundamentals
THCH:
$57.35M
AFRM:
$27.44B
THCH:
-CN¥14.84
AFRM:
$1.10
THCH:
0.31
AFRM:
8.92
THCH:
CN¥1.27B
AFRM:
$3.20B
THCH:
CN¥137.75M
AFRM:
$2.00B
THCH:
-CN¥191.18M
AFRM:
$908.84M
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Return for Risk
THCH vs. AFRM — Risk / Return Rank
THCH
AFRM
THCH vs. AFRM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TH International Limited (THCH) and Affirm Holdings, Inc. (AFRM). 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.
| THCH | AFRM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.67 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.12 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 0.50 | -1.30 |
| Martin ratioReturn relative to average drawdown | -1.57 | 0.98 | -2.55 |
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Drawdowns
THCH vs. AFRM - Drawdown Comparison
The maximum THCH drawdown since its inception was -96.02%, roughly equal to the maximum AFRM drawdown of -94.71%. Use the drawdown chart below to compare losses from any high point for THCH and AFRM.
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Drawdown Indicators
| THCH | AFRM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.02% | -94.71% | -1.31% |
Max Drawdown (1Y)Largest decline over 1 year | -51.01% | -53.86% | +2.85% |
Max Drawdown (3Y)Largest decline over 3 years | -90.65% | -55.85% | -34.80% |
Max Drawdown (5Y)Largest decline over 5 years | — | -94.71% | — |
Current DrawdownCurrent decline from peak | -95.09% | -51.38% | -43.71% |
Average DrawdownAverage peak-to-trough decline | -79.46% | -68.43% | -11.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.20% | 27.32% | -0.12% |
Volatility
THCH vs. AFRM - Volatility Comparison
TH International Limited (THCH) has a higher volatility of 32.78% compared to Affirm Holdings, Inc. (AFRM) at 16.42%. This indicates that THCH's price experiences larger fluctuations and is considered to be riskier than AFRM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| THCH | AFRM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 32.78% | 16.42% | +16.36% |
Volatility (6M)Calculated over the trailing 6-month period | 58.84% | 43.42% | +15.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.59% | 61.78% | +6.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 78.69% | 96.29% | -17.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 78.69% | 95.05% | -16.36% |
Dividends
THCH vs. AFRM - Dividend Comparison
Neither THCH nor AFRM has paid dividends to shareholders.
Financials
THCH vs. AFRM - Financials Comparison
This section allows you to compare key financial metrics between TH International Limited and Affirm Holdings, 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
THCH vs. AFRM - Profitability Comparison
THCH - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, TH International Limited reported a gross profit of 5.62M and revenue of 255.19M. Therefore, the gross margin over that period was 2.2%.
AFRM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Affirm Holdings, Inc. reported a gross profit of 0.00 and revenue of 268.03M. Therefore, the gross margin over that period was 0.0%.
THCH - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, TH International Limited reported an operating income of -65.89M and revenue of 255.19M, resulting in an operating margin of -25.8%.
AFRM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Affirm Holdings, Inc. reported an operating income of 88.43M and revenue of 268.03M, resulting in an operating margin of 33.0%.
THCH - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, TH International Limited reported a net income of -109.23M and revenue of 255.19M, resulting in a net margin of -42.8%.
AFRM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Affirm Holdings, Inc. reported a net income of 102.90M and revenue of 268.03M, resulting in a net margin of 38.4%.
Frequently Asked Questions
THCH and AFRM have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
THCH has higher volatility (32.78%) compared to AFRM (16.42%). In terms of maximum drawdown, THCH dropped -96.02% vs AFRM's -94.71%.
AFRM currently has the higher Sharpe Ratio (0.43 vs -0.60), 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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