IMPP vs. RCAT

Last updated Jun 4, 2026

IMPP (Imperial Petroleum Inc.) and RCAT (Red Cat Holdings, Inc.) are both stocks. IMPP operates in Oil & Gas E&P (Energy), while RCAT operates in Software - Application (Technology). Over the past 3 years, IMPP returned 17.44%/yr vs 142.10%/yr for RCAT. At a 0.12 correlation, their price movements are largely independent.

Performance

IMPP vs. RCAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Imperial Petroleum Inc. (IMPP) 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, IMPP achieves a 42.82% return, which is significantly lower than RCAT's 73.90% return.

IMPP

• 1D: -1.34%
• 1M: 2.58%
• YTD: 42.82%
• 6M: 19.40%
• 1Y: 70.63%
• 3Y*: 17.44%
• 5Y*: —
• 10Y*: —

RCAT

• 1D: -7.76%
• 1M: 25.36%
• YTD: 73.90%
• 6M: 82.65%
• 1Y: 98.99%
• 3Y*: 142.10%
• 5Y*: 42.10%
• 10Y*: —

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

IMPP vs. RCAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IMPP Imperial Petroleum Inc.	42.82%	20.27%	14.02%	-15.38%	-88.73%	-54.85%
RCAT Red Cat Holdings, Inc.	73.90%	-38.29%	1,360.23%	-6.38%	-54.81%	2.97%

Correlation

The correlation between IMPP and RCAT is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (All Time) Calculated using the full available price history since Dec 8, 2021	0.12

Fundamentals

Market Cap IMPP : $246.16M RCAT : $1.67B
EPS IMPP : $1.66 RCAT : -$0.78
PS Ratio IMPP : 1.09 RCAT : 28.66
PB Ratio IMPP : 0.44 RCAT : 6.98
Total Revenue (TTM) IMPP : $190.63M RCAT : $52.98M
Gross Profit (TTM) IMPP : $65.04M RCAT : $2.86M
EBITDA (TTM) IMPP : $91.98M RCAT : -$79.24M

Return for Risk

IMPP vs. RCAT — Risk / Return Rank

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

IMPP

IMPP Risk / Return Rank: 70
IMPP Sharpe Ratio Rank: 75
IMPP Sortino Ratio Rank: 72
IMPP Omega Ratio Rank: 71
IMPP Calmar Ratio Rank: 68
IMPP Martin Ratio Rank: 65

RCAT

RCAT Risk / Return Rank: 69
RCAT Sharpe Ratio Rank: 66
RCAT Sortino Ratio Rank: 73
RCAT Omega Ratio Rank: 68
RCAT Calmar Ratio Rank: 70
RCAT Martin Ratio Rank: 67

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.

IMPP vs. RCAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Imperial Petroleum Inc. (IMPP) 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.

	IMPP	RCAT	Difference
Sharpe ratio Return per unit of total volatility	1.16	0.83	+0.33
Sortino ratio Return per unit of downside risk	1.83	1.92	-0.09
Omega ratio Gain probability vs. loss probability	1.24	1.22	+0.02
Calmar ratio Return relative to maximum drawdown	1.44	1.66	-0.22
Martin ratio Return relative to average drawdown	2.87	3.34	-0.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMPP vs. RCAT - Sharpe Ratio Comparison

The current IMPP Sharpe Ratio is 1.16, which is higher than the RCAT Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of IMPP 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.

Sharpe Ratios by Period

	IMPP	RCAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	0.83	+0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.37	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.32	-0.06	-0.26

Drawdowns

IMPP vs. RCAT - Drawdown Comparison

The maximum IMPP drawdown since its inception was -98.75%, roughly equal to the maximum RCAT drawdown of -99.76%. Use the drawdown chart below to compare losses from any high point for IMPP and RCAT.

Drawdown Indicators

	IMPP	RCAT	Difference
Max Drawdown Largest peak-to-trough decline	-98.75%	-99.76%	+1.01%
Max Drawdown (1Y) Largest decline over 1 year	-49.29%	-60.08%	+10.79%
Max Drawdown (3Y) Largest decline over 3 years	-68.57%	-67.16%	-1.41%
Max Drawdown (5Y) Largest decline over 5 years	—	-92.25%	—
Current Drawdown Current decline from peak	-94.67%	-91.73%	-2.94%
Average Drawdown Average peak-to-trough decline	-93.70%	-95.53%	+1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.66%	29.75%	-5.09%

Volatility

IMPP vs. RCAT - Volatility Comparison

The current volatility for Imperial Petroleum Inc. (IMPP) is 16.90%, while Red Cat Holdings, Inc. (RCAT) has a volatility of 38.59%. This indicates that IMPP 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

	IMPP	RCAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.90%	38.59%	-21.69%
Volatility (6M) Calculated over the trailing 6-month period	38.15%	83.20%	-45.05%
Volatility (1Y) Calculated over the trailing 1-year period	61.73%	120.70%	-58.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	132.47%	114.95%	+17.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	132.47%	239.60%	-107.13%

Dividends

IMPP vs. RCAT - Dividend Comparison

Neither IMPP nor RCAT has paid dividends to shareholders.

Position	TTM	2025	2024	2023
IMPP Imperial Petroleum Inc.	0.00%	0.00%	0.00%	22.63%
RCAT Red Cat Holdings, Inc.	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both IMPP and RCAT in my portfolio?

IMPP and RCAT have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IMPP or RCAT?

RCAT has higher volatility (38.59%) compared to IMPP (16.90%). In terms of maximum drawdown, IMPP dropped -98.75% vs RCAT's -99.76%.

Which has better risk-adjusted returns?

IMPP currently has the higher Sharpe Ratio (1.16 vs 0.83), 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.