I would like to compare the performance of US 76mm HVAP vs the german 75mm APCR to analyze different philosophies of their design.
Spoiler
See new graph.
The relative weakness of the german 75mm APCR is not due to bad design of the shell, as germans technically could’ve used a heavier tungsten core to increase it’s armor penetration, but is a deliberate choice as it was merely meant to offer a fighting chance against armored targets, that are armoured enough to make the full caliber shells from this gun ineffective against them (which is about 110mm/30°). Against even more heavily armored targets, other, heavier guns, like the Nashorn’s 88mm were supposed to take care of them.
While the US subcaliber shell was designed to, quite simply, achieve the higher possible armor penetration performance from this gun.
@Ghostmaxi Subtract 180m distance for the 5cm shell o account for lower m.v. It’s still slightly superior to the 45mm one.
Edit: My bad, the german 75mm APCR when fired from the L/48 gun had m.v. = 990m/s, not 930m/s.
See updated graph: