WDH vs. DOCS
WDH (Waterdrop Inc.) and DOCS (Doximity, Inc.) are both stocks. WDH operates in Insurance - Diversified (Financial Services), while DOCS operates in Health Information Services (Healthcare). Over the past 5 years, WDH returned -21.77%/yr vs -19.51%/yr for DOCS. Their 0.10 correlation means their historical movements had little consistent relationship.
Performance
WDH vs. DOCS - Performance Comparison
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Returns By Period
In the year-to-date period, WDH achieves a -39.99% return, which is significantly higher than DOCS's -52.78% return.
WDH
- 1D
- -1.75%
- 1M
- -6.67%
- 6M
- -30.89%
- YTD
- -39.99%
- 1Y
- -30.20%
- 3Y*
- -12.25%
- 5Y*
- -21.77%
- 10Y*
- —
- ALL TIME*
- -33.25%
DOCS
- 1D
- -1.55%
- 1M
- -4.35%
- 6M
- -44.20%
- YTD
- -52.78%
- 1Y
- -63.53%
- 3Y*
- -15.61%
- 5Y*
- -19.51%
- 10Y*
- —
- ALL TIME*
- -12.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
DOCS Doximity, Inc. | $69.10M | $63.08M | $85.82M |
| $149.01K | $155.59K | $241.67K |
WDH vs. DOCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
WDH Waterdrop Inc. | -39.99% | 66.25% | 19.17% | -68.77% | 141.30% | -78.77% |
DOCS Doximity, Inc. | -52.78% | -17.06% | 90.41% | -16.45% | -33.05% | 21.76% |
Correlation
The correlation between WDH and DOCS is 0.02, 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. | 0.02 |
Correlation (3Y) Balances recent behavior with more history. | 0.04 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2021 | 0.10 |
Fundamentals
WDH:
$405.13M
DOCS:
$3.91B
WDH:
CN¥3.74
DOCS:
$0.99
WDH:
2.02
DOCS:
21.15
WDH:
0.00
DOCS:
1.80
WDH:
0.25
DOCS:
6.43
WDH:
0.05
DOCS:
4.29
WDH:
CN¥4.44B
DOCS:
$644.86M
WDH:
CN¥2.40B
DOCS:
$574.54M
WDH:
CN¥373.28M
DOCS:
$245.76M
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Return for Risk
WDH vs. DOCS — Risk / Return Rank
WDH
DOCS
WDH vs. DOCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Waterdrop Inc. (WDH) and Doximity, Inc. (DOCS). 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.
| WDH | DOCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.73 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.66 | -0.85 | +0.19 |
| Martin ratioReturn relative to average drawdown | -1.56 | -1.23 | -0.32 |
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Drawdowns
WDH vs. DOCS - Drawdown Comparison
The maximum WDH drawdown since its inception was -91.12%, which is greater than DOCS's maximum drawdown of -82.35%. Use the drawdown chart below to compare losses from any high point for WDH and DOCS.
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Drawdown Indicators
| WDH | DOCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.12% | -82.35% | -8.77% |
Max Drawdown (1Y)Largest decline over 1 year | -42.81% | -76.03% | +33.22% |
Max Drawdown (3Y)Largest decline over 3 years | -46.42% | -78.34% | +31.92% |
Max Drawdown (5Y)Largest decline over 5 years | -77.02% | -82.35% | +5.33% |
Current DrawdownCurrent decline from peak | -87.94% | -79.50% | -8.44% |
Average DrawdownAverage peak-to-trough decline | -81.30% | -57.75% | -23.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.05% | 52.35% | -34.30% |
Volatility
WDH vs. DOCS - Volatility Comparison
Waterdrop Inc. (WDH) and Doximity, Inc. (DOCS) have volatilities of 10.63% and 10.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WDH | DOCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.63% | 10.69% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 26.48% | 45.39% | -18.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.89% | 54.64% | -15.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.53% | 67.87% | -7.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.35% | 69.45% | -7.10% |
Dividends
WDH vs. DOCS - Dividend Comparison
WDH's dividend yield for the trailing twelve months is around 5.36%, while DOCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
DOCS Doximity, Inc. | 0.00% | 0.00% | 0.00% |
WDH Waterdrop Inc. | 5.36% | 2.63% | 5.08% |
Financials
WDH vs. DOCS - Financials Comparison
This section allows you to compare key financial metrics between Waterdrop Inc. and Doximity, 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
WDH vs. DOCS - Profitability Comparison
WDH - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Waterdrop Inc. reported a gross profit of 750.87M and revenue of 1.23B. Therefore, the gross margin over that period was 60.8%.
DOCS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Doximity, Inc. reported a gross profit of 125.97M and revenue of 145.37M. Therefore, the gross margin over that period was 86.7%.
WDH - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Waterdrop Inc. reported an operating income of 79.47M and revenue of 1.23B, resulting in an operating margin of 6.4%.
DOCS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Doximity, Inc. reported an operating income of 24.83M and revenue of 145.37M, resulting in an operating margin of 17.1%.
WDH - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Waterdrop Inc. reported a net income of 97.78M and revenue of 1.23B, resulting in a net margin of 7.9%.
DOCS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Doximity, Inc. reported a net income of 19.11M and revenue of 145.37M, resulting in a net margin of 13.2%.
Frequently Asked Questions
WDH and DOCS have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DOCS has higher volatility (10.69%) compared to WDH (10.63%). In terms of maximum drawdown, WDH dropped -91.12% vs DOCS's -82.35%.
WDH currently has the higher Sharpe Ratio (-0.73 vs -1.18), 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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