WKHS vs. PLUG

Last updated Jun 4, 2026

WKHS (Workhorse Group Inc.) and PLUG (Plug Power Inc.) are both stocks. WKHS operates in Auto Manufacturers (Consumer Cyclical), while PLUG operates in Electrical Equipment & Parts (Industrials). Over the past 10 years, WKHS returned -57.93%/yr vs 6.81%/yr for PLUG. At a 0.31 correlation, their price movements are largely independent.

Performance

WKHS vs. PLUG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Workhorse Group Inc. (WKHS) and Plug Power Inc. (PLUG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WKHS achieves a -29.47% return, which is significantly lower than PLUG's 87.31% return. Over the past 10 years, WKHS has underperformed PLUG with an annualized return of -57.93%, while PLUG has yielded a comparatively higher 6.81% annualized return.

WKHS

• 1D: -3.49%
• 1M: 11.49%
• YTD: -29.47%
• 6M: -66.72%
• 1Y: -67.45%
• 3Y*: -88.91%
• 5Y*: -84.42%
• 10Y*: -57.93%

PLUG

• 1D: -9.78%
• 1M: 17.89%
• YTD: 87.31%
• 6M: 65.47%
• 1Y: 305.14%
• 3Y*: -25.07%
• 5Y*: -34.49%
• 10Y*: 6.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

WKHS vs. PLUG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WKHS Workhorse Group Inc.	-29.47%	-95.14%	-90.31%	-76.32%	-65.14%	-77.96%	550.66%	475.76%	-79.38%	-63.74%
PLUG Plug Power Inc.	87.31%	-7.51%	-52.67%	-63.62%	-56.18%	-16.75%	973.10%	154.84%	-47.46%	96.67%

Correlation

The correlation between WKHS and PLUG is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since Aug 8, 2014	0.31

The correlation between WKHS and PLUG shifts across timeframes, from 0.31 (all time) to 0.50 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap WKHS : $34.59M PLUG : $5.13B
EPS WKHS : -$5.65 PLUG : -$1.39
PS Ratio WKHS : 2.21 PLUG : 6.03
PB Ratio WKHS : 0.80 PLUG : 6.84
Total Revenue (TTM) WKHS : $18.44M PLUG : $739.76M
Gross Profit (TTM) WKHS : -$19.61M PLUG : -$189.79M
EBITDA (TTM) WKHS : -$49.47M PLUG : -$745.89M

Return for Risk

WKHS vs. PLUG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WKHS

WKHS Risk / Return Rank: 20
WKHS Sharpe Ratio Rank: 19
WKHS Sortino Ratio Rank: 22
WKHS Omega Ratio Rank: 22
WKHS Calmar Ratio Rank: 14
WKHS Martin Ratio Rank: 24

PLUG

PLUG Risk / Return Rank: 90
PLUG Sharpe Ratio Rank: 93
PLUG Sortino Ratio Rank: 92
PLUG Omega Ratio Rank: 87
PLUG Calmar Ratio Rank: 92
PLUG Martin Ratio Rank: 86

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WKHS vs. PLUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Workhorse Group Inc. (WKHS) and Plug Power Inc. (PLUG). 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.

	WKHS	PLUG	Difference
Sharpe ratio Return per unit of total volatility	-0.50	2.77	-3.27
Sortino ratio Return per unit of downside risk	-0.37	3.55	-3.92
Omega ratio Gain probability vs. loss probability	0.96	1.39	-0.43
Calmar ratio Return relative to maximum drawdown	-0.71	5.43	-6.13
Martin ratio Return relative to average drawdown	-0.85	9.25	-10.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WKHS vs. PLUG - Sharpe Ratio Comparison

The current WKHS Sharpe Ratio is -0.50, which is lower than the PLUG Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of WKHS and PLUG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	WKHS	PLUG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.50	2.77	-3.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.79	-0.37	-0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.46	0.08	-0.54
Sharpe Ratio (All Time) Calculated using the full available price history	-0.34	-0.14	-0.21

Drawdowns

WKHS vs. PLUG - Drawdown Comparison

The maximum WKHS drawdown since its inception was -100.00%, roughly equal to the maximum PLUG drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for WKHS and PLUG.

Drawdown Indicators

	WKHS	PLUG	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-99.99%	-0.01%
Max Drawdown (1Y) Largest decline over 1 year	-95.59%	-56.66%	-38.93%
Max Drawdown (3Y) Largest decline over 3 years	-99.94%	-94.69%	-5.25%
Max Drawdown (5Y) Largest decline over 5 years	-100.00%	-98.43%	-1.57%
Max Drawdown (10Y) Largest decline over 10 years	-100.00%	-99.04%	-0.96%
Current Drawdown Current decline from peak	-100.00%	-99.75%	-0.25%
Average Drawdown Average peak-to-trough decline	-71.95%	-96.23%	+24.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	79.10%	33.16%	+45.94%

Volatility

WKHS vs. PLUG - Volatility Comparison

Workhorse Group Inc. (WKHS) has a higher volatility of 47.33% compared to Plug Power Inc. (PLUG) at 29.10%. This indicates that WKHS's price experiences larger fluctuations and is considered to be riskier than PLUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WKHS	PLUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	47.33%	29.10%	+18.23%
Volatility (6M) Calculated over the trailing 6-month period	70.89%	63.11%	+7.78%
Volatility (1Y) Calculated over the trailing 1-year period	135.74%	111.33%	+24.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	106.76%	94.44%	+12.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	125.19%	89.39%	+35.80%

Dividends

WKHS vs. PLUG - Dividend Comparison

Neither WKHS nor PLUG has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both WKHS and PLUG in my portfolio?

WKHS and PLUG have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WKHS or PLUG?

WKHS has higher volatility (47.33%) compared to PLUG (29.10%). In terms of maximum drawdown, WKHS dropped -100.00% vs PLUG's -99.99%.

Which has better risk-adjusted returns?

PLUG currently has the higher Sharpe Ratio (2.77 vs -0.50), 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.