VWAV vs. STLD

Last updated Aug 1, 2026

VWAV (VisionWave Holdings, Inc.) and STLD (Steel Dynamics, Inc.) are both stocks. VWAV operates in Aerospace & Defense (Industrials), while STLD operates in Steel (Basic Materials). Over the past year, VWAV returned -78.06% vs 107.78% for STLD. Their 0.04 correlation means their historical movements had little consistent relationship.

Performance

VWAV vs. STLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VisionWave Holdings, Inc. (VWAV) and Steel Dynamics, Inc. (STLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VWAV achieves a -81.43% return, which is significantly lower than STLD's 49.08% return.

VWAV

• 1D: -11.34%
• 1M: -58.45%
• 6M: -82.34%
• YTD: -81.43%
• 1Y: -78.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -32.95%

STLD

• 1D: -0.49%
• 1M: 14.01%
• 6M: 40.67%
• YTD: 49.08%
• 1Y: 107.78%
• 3Y*: 34.78%
• 5Y*: 33.27%
• 10Y*: 27.79%
• ALL TIME*: 16.40%

*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)
STLD Steel Dynamics, Inc.	$317.28M	$281.08M	$296.06M
VWAV VisionWave Holdings, Inc.	$1.73M	$1.86M	$3.48M

VWAV vs. STLD - Yearly Performance Comparison

	2026 (YTD)	2025
VWAV VisionWave Holdings, Inc.	-81.43%	254.79%
STLD Steel Dynamics, Inc.	49.08%	28.03%

Correlation

The correlation between VWAV and STLD is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.06
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.04

Fundamentals

Market Cap VWAV : $28.37M STLD : $36.01B
EPS VWAV : -$1.66 STLD : $11.03
PB Ratio VWAV : 0.20 STLD : 3.85
Total Revenue (TTM) VWAV : $0.00 STLD : $20.54B
Gross Profit (TTM) VWAV : $0.00 STLD : $3.00B
EBITDA (TTM) VWAV : -$11.51M STLD : $2.97B

Return for Risk

VWAV vs. STLD — Risk / Return Rank

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

VWAV

VWAV Risk / Return Rank: 10
VWAV Sharpe Ratio Rank: 14
VWAV Sortino Ratio Rank: 11
VWAV Omega Ratio Rank: 15
VWAV Calmar Ratio Rank: 8
VWAV Martin Ratio Rank: 2

STLD

STLD Risk / Return Rank: 95
STLD Sharpe Ratio Rank: 97
STLD Sortino Ratio Rank: 95
STLD Omega Ratio Rank: 93
STLD Calmar Ratio Rank: 94
STLD Martin Ratio Rank: 94

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.

VWAV vs. STLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VisionWave Holdings, Inc. (VWAV) and Steel Dynamics, Inc. (STLD). 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.

	VWAV	STLD	Difference
Sharpe ratio: Return per unit of total volatility	-0.67	2.85	-3.51
Sortino ratio: Return per unit of downside risk	-1.09	3.40	-4.49
Omega ratio: Gain probability vs. loss probability	0.89	1.42	-0.53
Calmar ratio: Return relative to maximum drawdown	-0.90	4.56	-5.46
Martin ratio: Return relative to average drawdown	-1.79	13.00	-14.79

VWAV vs. STLD - Sharpe Ratio Comparison

The current VWAV Sharpe Ratio is -0.67, which is lower than the STLD Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of VWAV and STLD, 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

VWAV vs. STLD - Drawdown Comparison

The maximum VWAV drawdown since its inception was -87.87%, roughly equal to the maximum STLD drawdown of -87.05%. Use the drawdown chart below to compare losses from any high point for VWAV and STLD.

Drawdown Indicators

	VWAV	STLD	Difference
Max Drawdown Largest peak-to-trough decline	-87.87%	-87.05%	-0.82%
Max Drawdown (1Y) Largest decline over 1 year	-87.87%	-21.88%	-65.99%
Max Drawdown (3Y) Largest decline over 3 years	—	-28.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.20%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-68.46%	—
Current Drawdown Current decline from peak	-87.87%	-10.94%	-76.93%
Average Drawdown Average peak-to-trough decline	-37.94%	-33.18%	-4.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.07%	7.70%	+36.37%

Volatility

VWAV vs. STLD - Volatility Comparison

VisionWave Holdings, Inc. (VWAV) has a higher volatility of 29.93% compared to Steel Dynamics, Inc. (STLD) at 8.59%. This indicates that VWAV's price experiences larger fluctuations and is considered to be riskier than STLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWAV	STLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.93%	8.59%	+21.34%
Volatility (6M) Calculated over the trailing 6-month period	84.03%	27.04%	+56.99%
Volatility (1Y) Calculated over the trailing 1-year period	118.13%	35.08%	+83.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	380.74%	38.08%	+342.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	380.74%	39.40%	+341.34%

Dividends

VWAV vs. STLD - Dividend Comparison

VWAV has not paid dividends to shareholders, while STLD's dividend yield for the trailing twelve months is around 0.82%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
STLD Steel Dynamics, Inc.	0.82%	1.18%	1.61%	1.44%	1.39%	1.68%	2.71%	2.82%	2.50%	1.44%	1.57%	3.08%
VWAV VisionWave Holdings, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both VWAV and STLD in my portfolio?

VWAV and STLD have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VWAV or STLD?

VWAV has higher volatility (29.93%) compared to STLD (8.59%). In terms of maximum drawdown, VWAV dropped -87.87% vs STLD's -87.05%.

Which has better risk-adjusted returns?

STLD currently has the higher Sharpe Ratio (2.85 vs -0.67), 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.