SPCE vs. RKLB

Last updated Jun 23, 2026

SPCE (Virgin Galactic Holdings, Inc.) and RKLB (Rocket Lab USA, Inc.) are both stocks. Both operate in the Aerospace & Defense industry within the Industrials sector. Over the past 3 years, SPCE returned -66.75%/yr vs 162.57%/yr for RKLB. A 0.52 correlation means they provide meaningful diversification when combined.

Performance

SPCE vs. RKLB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virgin Galactic Holdings, Inc. (SPCE) and Rocket Lab USA, Inc. (RKLB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPCE achieves a -0.62% return, which is significantly lower than RKLB's 43.76% return.

SPCE

• 1D: -10.39%
• 1M: -1.54%
• YTD: -0.62%
• 6M: -13.78%
• 1Y: 6.69%
• 3Y*: -66.75%
• 5Y*: -67.01%
• 10Y*: —

RKLB

• 1D: -6.48%
• 1M: -26.13%
• YTD: 43.76%
• 6M: 29.32%
• 1Y: 233.85%
• 3Y*: 162.57%
• 5Y*: —
• 10Y*: —

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

SPCE vs. RKLB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SPCE Virgin Galactic Holdings, Inc.	-0.62%	-45.41%	-88.00%	-29.60%	-73.99%	-47.41%
RKLB Rocket Lab USA, Inc.	43.76%	173.89%	360.58%	46.68%	-69.30%	8.67%

Correlation

The correlation between SPCE and RKLB is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (All Time) Calculated using the full available price history since Aug 24, 2021	0.52

The correlation between SPCE and RKLB has been stable across timeframes, ranging from 0.47 to 0.52 - a consistent structural relationship.

Fundamentals

Market Cap SPCE : $253.55M RKLB : $60.72B
EPS SPCE : -$4.17 RKLB : -$0.33
PS Ratio SPCE : 151.35 RKLB : 81.97
PB Ratio SPCE : 1.13 RKLB : 26.82
Total Revenue (TTM) SPCE : $1.31M RKLB : $679.58M
Gross Profit (TTM) SPCE : -$50.86M RKLB : $248.43M
EBITDA (TTM) SPCE : -$235.21M RKLB : -$177.36M

Return for Risk

SPCE vs. RKLB — Risk / Return Rank

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

SPCE

SPCE Risk / Return Rank: 49
SPCE Sharpe Ratio Rank: 44
SPCE Sortino Ratio Rank: 54
SPCE Omega Ratio Rank: 55
SPCE Calmar Ratio Rank: 45
SPCE Martin Ratio Rank: 44

RKLB

RKLB Risk / Return Rank: 90
RKLB Sharpe Ratio Rank: 93
RKLB Sortino Ratio Rank: 88
RKLB Omega Ratio Rank: 85
RKLB Calmar Ratio Rank: 93
RKLB Martin Ratio Rank: 91

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.

SPCE vs. RKLB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virgin Galactic Holdings, Inc. (SPCE) and Rocket Lab USA, Inc. (RKLB). 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.

	SPCE	RKLB	Difference
Sharpe ratio: Return per unit of total volatility	0.06	2.53	-2.47
Sortino ratio: Return per unit of downside risk	0.95	2.85	-1.90
Omega ratio: Gain probability vs. loss probability	1.13	1.34	-0.21
Calmar ratio: Return relative to maximum drawdown	0.12	5.48	-5.36
Martin ratio: Return relative to average drawdown	0.21	12.24	-12.03

SPCE vs. RKLB - Sharpe Ratio Comparison

The current SPCE Sharpe Ratio is 0.06, which is lower than the RKLB Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of SPCE and RKLB, 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

SPCE vs. RKLB - Drawdown Comparison

The maximum SPCE drawdown since its inception was -99.82%, which is greater than RKLB's maximum drawdown of -82.96%. Use the drawdown chart below to compare losses from any high point for SPCE and RKLB.

Drawdown Indicators

	SPCE	RKLB	Difference
Max Drawdown Largest peak-to-trough decline	-99.82%	-82.96%	-16.86%
Max Drawdown (1Y) Largest decline over 1 year	-57.58%	-43.01%	-14.57%
Max Drawdown (3Y) Largest decline over 3 years	-97.71%	-55.49%	-42.22%
Max Drawdown (5Y) Largest decline over 5 years	-99.81%	—	—
Current Drawdown Current decline from peak	-99.73%	-33.24%	-66.49%
Average Drawdown Average peak-to-trough decline	-78.58%	-51.20%	-27.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.11%	19.21%	+12.90%

Volatility

SPCE vs. RKLB - Volatility Comparison

Virgin Galactic Holdings, Inc. (SPCE) has a higher volatility of 86.01% compared to Rocket Lab USA, Inc. (RKLB) at 30.72%. This indicates that SPCE's price experiences larger fluctuations and is considered to be riskier than RKLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPCE	RKLB	Difference
Volatility (1M) Calculated over the trailing 1-month period	86.01%	30.72%	+55.29%
Volatility (6M) Calculated over the trailing 6-month period	97.80%	72.68%	+25.12%
Volatility (1Y) Calculated over the trailing 1-year period	109.27%	93.17%	+16.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.59%	81.60%	+15.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	100.31%	81.60%	+18.71%

Dividends

SPCE vs. RKLB - Dividend Comparison

Neither SPCE nor RKLB has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both SPCE and RKLB in my portfolio?

SPCE and RKLB have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPCE or RKLB?

SPCE has higher volatility (86.01%) compared to RKLB (30.72%). In terms of maximum drawdown, SPCE dropped -99.82% vs RKLB's -82.96%.

Which has better risk-adjusted returns?

RKLB currently has the higher Sharpe Ratio (2.53 vs 0.06), 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.