TNYA vs. APLD

Last updated Aug 1, 2026

TNYA (Tenaya Therapeutics, Inc.) and APLD (Applied Digital Corporation) are both stocks. TNYA operates in Biotechnology (Healthcare), while APLD operates in Information Technology Services (Technology). Over the past 5 years, TNYA returned -45.47%/yr vs 84.53%/yr for APLD. Their 0.20 correlation means their historical movements had little consistent relationship.

Performance

TNYA vs. APLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tenaya Therapeutics, Inc. (TNYA) and Applied Digital Corporation (APLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TNYA achieves a 4.05% return, which is significantly lower than APLD's 11.70% return.

TNYA

• 1D: -1.29%
• 1M: -5.92%
• 6M: -4.44%
• YTD: 4.05%
• 1Y: 10.39%
• 3Y*: -45.80%
• 5Y*: -45.47%
• 10Y*: —
• ALL TIME*: -48.00%

APLD

• 1D: -2.07%
• 1M: -17.15%
• 6M: -19.16%
• YTD: 11.70%
• 1Y: 118.77%
• 3Y*: 43.55%
• 5Y*: 84.53%
• 10Y*: 111.35%
• ALL TIME*: 26.17%

*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)
APLD Applied Digital Corporation	$653.03M	$590.08M	$826.73M
TNYA Tenaya Therapeutics, Inc.	$1.19M	$2.08M	$2.83M

TNYA vs. APLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TNYA Tenaya Therapeutics, Inc.	4.05%	-50.24%	-55.86%	61.19%	-89.39%	-2.82%
APLD Applied Digital Corporation	11.70%	220.94%	13.35%	266.30%	-56.09%	232.54%

Correlation

The correlation between TNYA and APLD is 0.22, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.22
Correlation (3Y) Balances recent behavior with more history.	0.24
Correlation (5Y) Shows whether the relationship held over a longer period.	0.20
Correlation (All Time) Calculated using the full available price history since Jul 30, 2021	0.20

Fundamentals

Market Cap TNYA : $160.64M APLD : $7.83B
EPS TNYA : -$0.47 APLD : -$0.91
PS Ratio TNYA : 584.78 APLD : 12.10
PB Ratio TNYA : 1.51 APLD : 4.57
Total Revenue (TTM) TNYA : $225.00K APLD : $611.31M
Gross Profit (TTM) TNYA : $0.00 APLD : $214.45M
EBITDA (TTM) TNYA : -$78.62M APLD : -$158.14M

Return for Risk

TNYA vs. APLD — Risk / Return Rank

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

TNYA

TNYA Risk / Return Rank: 52
TNYA Sharpe Ratio Rank: 48
TNYA Sortino Ratio Rank: 58
TNYA Omega Ratio Rank: 56
TNYA Calmar Ratio Rank: 48
TNYA Martin Ratio Rank: 47

APLD

APLD Risk / Return Rank: 78
APLD Sharpe Ratio Rank: 76
APLD Sortino Ratio Rank: 80
APLD Omega Ratio Rank: 75
APLD Calmar Ratio Rank: 79
APLD Martin Ratio Rank: 78

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.

TNYA vs. APLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tenaya Therapeutics, Inc. (TNYA) and Applied Digital Corporation (APLD). 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.

	TNYA	APLD	Difference
Sharpe ratio: Return per unit of total volatility	0.09	1.03	-0.95
Sortino ratio: Return per unit of downside risk	0.98	2.02	-1.04
Omega ratio: Gain probability vs. loss probability	1.12	1.23	-0.11
Calmar ratio: Return relative to maximum drawdown	0.13	2.05	-1.92
Martin ratio: Return relative to average drawdown	0.18	4.56	-4.38

TNYA vs. APLD - Sharpe Ratio Comparison

The current TNYA Sharpe Ratio is 0.09, which is lower than the APLD Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of TNYA and APLD, 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

TNYA vs. APLD - Drawdown Comparison

The maximum TNYA drawdown since its inception was -98.69%, roughly equal to the maximum APLD drawdown of -99.73%. Use the drawdown chart below to compare losses from any high point for TNYA and APLD.

Drawdown Indicators

	TNYA	APLD	Difference
Max Drawdown Largest peak-to-trough decline	-98.69%	-99.73%	+1.04%
Max Drawdown (1Y) Largest decline over 1 year	-73.81%	-53.23%	-20.58%
Max Drawdown (3Y) Largest decline over 3 years	-94.30%	-71.95%	-22.35%
Max Drawdown (5Y) Largest decline over 5 years	-98.69%	-82.61%	-16.08%
Max Drawdown (10Y) Largest decline over 10 years	—	-89.80%	—
Current Drawdown Current decline from peak	-97.50%	-44.83%	-52.67%
Average Drawdown Average peak-to-trough decline	-82.55%	-74.51%	-8.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	52.56%	23.87%	+28.69%

Volatility

TNYA vs. APLD - Volatility Comparison

The current volatility for Tenaya Therapeutics, Inc. (TNYA) is 17.00%, while Applied Digital Corporation (APLD) has a volatility of 32.97%. This indicates that TNYA experiences smaller price fluctuations and is considered to be less risky than APLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TNYA	APLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.00%	32.97%	-15.97%
Volatility (6M) Calculated over the trailing 6-month period	67.10%	76.00%	-8.90%
Volatility (1Y) Calculated over the trailing 1-year period	107.03%	109.72%	-2.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	107.78%	164.94%	-57.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	108.16%	301.14%	-192.98%

Dividends

TNYA vs. APLD - Dividend Comparison

Neither TNYA nor APLD has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both TNYA and APLD in my portfolio?

TNYA and APLD have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TNYA or APLD?

APLD has higher volatility (32.97%) compared to TNYA (17.00%). In terms of maximum drawdown, TNYA dropped -98.69% vs APLD's -99.73%.

Which has better risk-adjusted returns?

APLD currently has the higher Sharpe Ratio (1.03 vs 0.09), 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.