Objective: There are many similarities between the photoplethysmography(PPG) pulse wave and the radial pulse when a body is in a stationary state, but the difference between them under conditions of movement is not yet clear. Finding these differences may help further understanding of the cardiovascular system. Methods: PPG and radial pulse wave were recorded simultaneously while subjects were conducting a bicycle exercise test that included the resting and exercise state, while the K and K' parameters were being acquired from the PPG and radial pulse, respectively. Furthermore, the pulse objective pattern is observed via the time domain waveform and XY graph. Results: When the body's state of movement changes dramatically, there is a time difference between the pulse parameter K and the pulse amplitude, and the difference of the pulse pattern is enhanced during the exercising phase. Conclusion: Radial pulse waves are not the same as PPG during exercise in either the pulse parameter or the pulse pattern. This information can be used to further evaluate the state of arterial circulation and microcirculation.