DPRO vs. RCAT

Last updated Jun 23, 2026

DPRO (Draganfly Inc) and RCAT (Red Cat Holdings, Inc.) are both stocks. Both operate in the Aerospace & Defense industry within the Industrials sector. Over the past 5 years, DPRO returned -50.95%/yr vs 33.36%/yr for RCAT. At a 0.22 correlation, their price movements are largely independent.

Performance

DPRO vs. RCAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Draganfly Inc (DPRO) and Red Cat Holdings, Inc. (RCAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DPRO achieves a -20.12% return, which is significantly lower than RCAT's 34.05% return.

DPRO

• 1D: -4.66%
• 1M: -14.02%
• YTD: -20.12%
• 6M: -31.09%
• 1Y: 85.86%
• 3Y*: -44.33%
• 5Y*: -50.95%
• 10Y*: —

RCAT

• 1D: -7.08%
• 1M: 12.96%
• YTD: 34.05%
• 6M: 15.29%
• 1Y: 54.73%
• 3Y*: 108.07%
• 5Y*: 33.36%
• 10Y*: —

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

DPRO vs. RCAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DPRO Draganfly Inc	-20.12%	72.32%	-66.55%	-36.07%	-53.99%	-48.90%	32.97%	-0.99%
RCAT Red Cat Holdings, Inc.	34.05%	-38.29%	1,360.23%	-6.38%	-54.81%	-30.67%	172.73%	4.76%

Correlation

The correlation between DPRO and RCAT is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (All Time) Calculated using the full available price history since Dec 4, 2019	0.22

Over the past year, DPRO and RCAT have become more correlated (0.53) than their long-term average of 0.22, meaning their price movements have been converging.

Fundamentals

Market Cap DPRO : $178.69M RCAT : $1.28B
EPS DPRO : -CA$1.12 RCAT : -$0.78
PS Ratio DPRO : 20.70 RCAT : 22.09
PB Ratio DPRO : 1.62 RCAT : 5.38
Total Revenue (TTM) DPRO : CA$8.50M RCAT : $52.98M
Gross Profit (TTM) DPRO : CA$1.13M RCAT : $2.86M
EBITDA (TTM) DPRO : -CA$24.66M RCAT : -$79.24M

Return for Risk

DPRO vs. RCAT — Risk / Return Rank

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

DPRO

DPRO Risk / Return Rank: 67
DPRO Sharpe Ratio Rank: 64
DPRO Sortino Ratio Rank: 74
DPRO Omega Ratio Rank: 69
DPRO Calmar Ratio Rank: 67
DPRO Martin Ratio Rank: 62

RCAT

RCAT Risk / Return Rank: 62
RCAT Sharpe Ratio Rank: 59
RCAT Sortino Ratio Rank: 68
RCAT Omega Ratio Rank: 63
RCAT Calmar Ratio Rank: 62
RCAT Martin Ratio Rank: 61

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.

DPRO vs. RCAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Draganfly Inc (DPRO) and Red Cat Holdings, Inc. (RCAT). 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.

	DPRO	RCAT	Difference
Sharpe ratio: Return per unit of total volatility	0.68	0.46	+0.22
Sortino ratio: Return per unit of downside risk	1.84	1.56	+0.28
Omega ratio: Gain probability vs. loss probability	1.21	1.17	+0.04
Calmar ratio: Return relative to maximum drawdown	1.27	0.92	+0.36
Martin ratio: Return relative to average drawdown	1.99	1.83	+0.16

DPRO vs. RCAT - Sharpe Ratio Comparison

The current DPRO Sharpe Ratio is 0.68, which is higher than the RCAT Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of DPRO and RCAT, 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

DPRO vs. RCAT - Drawdown Comparison

The maximum DPRO drawdown since its inception was -99.56%, which is greater than RCAT's maximum drawdown of -92.25%. Use the drawdown chart below to compare losses from any high point for DPRO and RCAT.

Drawdown Indicators

	DPRO	RCAT	Difference
Max Drawdown Largest peak-to-trough decline	-99.56%	-92.25%	-7.31%
Max Drawdown (1Y) Largest decline over 1 year	-67.90%	-60.08%	-7.82%
Max Drawdown (3Y) Largest decline over 3 years	-94.96%	-67.16%	-27.80%
Max Drawdown (5Y) Largest decline over 5 years	-99.13%	-92.25%	-6.88%
Current Drawdown Current decline from peak	-98.58%	-38.77%	-59.81%
Average Drawdown Average peak-to-trough decline	-83.77%	-62.26%	-21.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.29%	30.05%	+13.24%

Volatility

DPRO vs. RCAT - Volatility Comparison

The current volatility for Draganfly Inc (DPRO) is 32.52%, while Red Cat Holdings, Inc. (RCAT) has a volatility of 42.04%. This indicates that DPRO experiences smaller price fluctuations and is considered to be less risky than RCAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DPRO	RCAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.52%	42.04%	-9.52%
Volatility (6M) Calculated over the trailing 6-month period	75.31%	85.16%	-9.85%
Volatility (1Y) Calculated over the trailing 1-year period	127.34%	118.89%	+8.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	116.55%	114.60%	+1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	138.78%	165.21%	-26.43%

Dividends

DPRO vs. RCAT - Dividend Comparison

Neither DPRO nor RCAT has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both DPRO and RCAT in my portfolio?

DPRO and RCAT have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DPRO or RCAT?

RCAT has higher volatility (42.04%) compared to DPRO (32.52%). In terms of maximum drawdown, DPRO dropped -99.56% vs RCAT's -92.25%.

Which has better risk-adjusted returns?

DPRO currently has the higher Sharpe Ratio (0.68 vs 0.46), 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.