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UPST vs. PGY
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility
Financials

UPST vs. PGY

Last updated May 4, 2025

Compare and contrast key facts about Upstart Holdings, Inc. (UPST) and Pagaya Technologies Ltd. (PGY).

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: UPST or PGY.

Correlation

The correlation between UPST and PGY is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

-0.50.00.51.0
Correlation: 0.4

Performance

UPST vs. PGY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Upstart Holdings, Inc. (UPST) and Pagaya Technologies Ltd. (PGY). The values are adjusted to include any dividend payments, if applicable.
-100.00%-50.00%0.00%50.00%100.00%December2025FebruaryMarchAprilMay
29.27%
-83.77%
UPST
PGY

Key characteristics

Sharpe Ratio

UPST:

1.20

PGY:

0.23

Sortino Ratio

UPST:

2.37

PGY:

1.00

Omega Ratio

UPST:

1.28

PGY:

1.13

Calmar Ratio

UPST:

1.34

PGY:

0.22

Martin Ratio

UPST:

5.22

PGY:

0.74

Ulcer Index

UPST:

24.21%

PGY:

29.33%

Daily Std Dev

UPST:

105.41%

PGY:

96.41%

Max Drawdown

UPST:

-96.90%

PGY:

-98.09%

Current Drawdown

UPST:

-87.16%

PGY:

-96.71%

Fundamentals

Market Cap

UPST:

$4.53B

PGY:

$891.53M

EPS

UPST:

-$1.44

PGY:

-$5.66

PS Ratio

UPST:

6.70

PGY:

0.86

PB Ratio

UPST:

7.16

PGY:

2.73

Total Revenue (TTM)

UPST:

$501.04M

PGY:

$767.55M

Gross Profit (TTM)

UPST:

$501.04M

PGY:

$314.78M

EBITDA (TTM)

UPST:

-$60.75M

PGY:

$62.16M

Returns By Period

In the year-to-date period, UPST achieves a -18.66% return, which is significantly lower than PGY's 27.45% return.

UPST

YTD

-18.66%

1M

29.44%

6M

3.30%

1Y

107.37%

5Y*

N/A

10Y*

N/A

PGY

YTD

27.45%

1M

22.76%

6M

1.37%

1Y

13.74%

5Y*

N/A

10Y*

N/A

*Annualized

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Risk-Adjusted Performance

UPST vs. PGY — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UPST
The Risk-Adjusted Performance Rank of UPST is 8787
Overall Rank
The Sharpe Ratio Rank of UPST is 8787
Sharpe Ratio Rank
The Sortino Ratio Rank of UPST is 8989
Sortino Ratio Rank
The Omega Ratio Rank of UPST is 8585
Omega Ratio Rank
The Calmar Ratio Rank of UPST is 8888
Calmar Ratio Rank
The Martin Ratio Rank of UPST is 8686
Martin Ratio Rank
PGY
The Risk-Adjusted Performance Rank of PGY is 6262
Overall Rank
The Sharpe Ratio Rank of PGY is 5959
Sharpe Ratio Rank
The Sortino Ratio Rank of PGY is 6464
Sortino Ratio Rank
The Omega Ratio Rank of PGY is 6363
Omega Ratio Rank
The Calmar Ratio Rank of PGY is 6161
Calmar Ratio Rank
The Martin Ratio Rank of PGY is 6060
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

UPST vs. PGY - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Upstart Holdings, Inc. (UPST) and Pagaya Technologies Ltd. (PGY). 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.

The chart of Sharpe ratio for UPST, currently valued at 1.20, compared to the broader market-2.00-1.000.001.002.003.00
UPST: 1.20
PGY: 0.23
The chart of Sortino ratio for UPST, currently valued at 2.37, compared to the broader market-6.00-4.00-2.000.002.004.00
UPST: 2.37
PGY: 1.00
The chart of Omega ratio for UPST, currently valued at 1.28, compared to the broader market0.501.001.502.00
UPST: 1.28
PGY: 1.13
The chart of Calmar ratio for UPST, currently valued at 1.80, compared to the broader market0.001.002.003.004.005.00
UPST: 1.80
PGY: 0.22
The chart of Martin ratio for UPST, currently valued at 5.22, compared to the broader market-40.00-30.00-20.00-10.000.0010.0020.00
UPST: 5.22
PGY: 0.74

The current UPST Sharpe Ratio is 1.20, which is higher than the PGY Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of UPST and PGY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Rolling 12-month Sharpe Ratio-1.000.001.002.003.00December2025FebruaryMarchAprilMay
1.20
0.23
UPST
PGY

Dividends

UPST vs. PGY - Dividend Comparison

Neither UPST nor PGY has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

UPST vs. PGY - Drawdown Comparison

The maximum UPST drawdown since its inception was -96.90%, roughly equal to the maximum PGY drawdown of -98.09%. Use the drawdown chart below to compare losses from any high point for UPST and PGY. For additional features, visit the drawdowns tool.

-100.00%-80.00%-60.00%-40.00%-20.00%0.00%December2025FebruaryMarchAprilMay
-43.58%
-96.71%
UPST
PGY

Volatility

UPST vs. PGY - Volatility Comparison

Upstart Holdings, Inc. (UPST) has a higher volatility of 36.71% compared to Pagaya Technologies Ltd. (PGY) at 28.61%. This indicates that UPST's price experiences larger fluctuations and is considered to be riskier than PGY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

20.00%30.00%40.00%50.00%60.00%December2025FebruaryMarchAprilMay
36.71%
28.61%
UPST
PGY

Financials

UPST vs. PGY - Financials Comparison

This section allows you to compare key financial metrics between Upstart Holdings, Inc. and Pagaya Technologies Ltd.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.

Quarterly
Annual

Total Revenue: Total amount of money received from sales and other business activities

0.0050.00M100.00M150.00M200.00M250.00M300.00M350.00MAprilJulyOctober2021AprilJulyOctober2022AprilJulyOctober2023AprilJulyOctober2024AprilJulyOctober
211.27M
275.67M
(UPST) Total Revenue
(PGY) Total Revenue
Values in USD except per share items

UPST vs. PGY - Profitability Comparison

The chart below illustrates the profitability comparison between Upstart Holdings, Inc. and Pagaya Technologies Ltd. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.
Gross Margin
Operating Margin
Net Margin
Quarterly
Annual
20.0%40.0%60.0%80.0%100.0%AprilJulyOctober2021AprilJulyOctober2022AprilJulyOctober2023AprilJulyOctober2024AprilJulyOctober
100.0%
42.6%
(UPST) Gross Margin
(PGY) Gross Margin
UPST - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on May 2025, Upstart Holdings, Inc. reported a gross profit of 211.27M and revenue of 211.27M. Therefore, the gross margin over that period was 100.0%.
PGY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on May 2025, Pagaya Technologies Ltd. reported a gross profit of 117.47M and revenue of 275.67M. Therefore, the gross margin over that period was 42.6%.
UPST - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on May 2025, Upstart Holdings, Inc. reported an operating income of -4.75M and revenue of 211.27M, resulting in an operating margin of -2.3%.
PGY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on May 2025, Pagaya Technologies Ltd. reported an operating income of 31.74M and revenue of 275.67M, resulting in an operating margin of 11.5%.
UPST - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on May 2025, Upstart Holdings, Inc. reported a net income of -2.76M and revenue of 211.27M, resulting in a net margin of -1.3%.
PGY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on May 2025, Pagaya Technologies Ltd. reported a net income of -237.92M and revenue of 275.67M, resulting in a net margin of -86.3%.