ZENA vs. RCAT

Last updated Jun 4, 2026

ZENA (ZenaTech Inc) and RCAT (Red Cat Holdings, Inc.) are both stocks. Both are in the Technology sector — ZENA in Software - Infrastructure, RCAT in Software - Application. Over the past year, ZENA returned -50.00% vs 98.99% for RCAT. At a 0.44 correlation, their price movements are largely independent.

Performance

ZENA vs. RCAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ZenaTech Inc (ZENA) 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, ZENA achieves a -52.81% return, which is significantly lower than RCAT's 73.90% return.

ZENA

• 1D: 0.67%
• 1M: -36.82%
• YTD: -52.81%
• 6M: -54.24%
• 1Y: -50.00%
• 3Y*: —
• 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)

ZENA vs. RCAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ZENA ZenaTech Inc	-52.81%	-58.39%	-12.61%
RCAT Red Cat Holdings, Inc.	73.90%	-38.29%	337.07%

Correlation

The correlation between ZENA and RCAT is 0.56, 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	0.56
Correlation (All Time) Calculated using the full available price history since Oct 2, 2024	0.44

The correlation between ZENA and RCAT shifts across timeframes, from 0.44 (all time) to 0.56 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap ZENA : $72.51M RCAT : $1.67B
EPS ZENA : -$1.16 RCAT : -$0.78
PS Ratio ZENA : 4.56 RCAT : 28.66
PB Ratio ZENA : 4.48 RCAT : 6.98
Total Revenue (TTM) ZENA : $12.83M RCAT : $52.98M
Gross Profit (TTM) ZENA : $10.78M RCAT : $2.86M
EBITDA (TTM) ZENA : -$30.02M RCAT : -$79.24M

Return for Risk

ZENA vs. RCAT — Risk / Return Rank

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

ZENA

ZENA Risk / Return Rank: 23
ZENA Sharpe Ratio Rank: 22
ZENA Sortino Ratio Rank: 26
ZENA Omega Ratio Rank: 27
ZENA Calmar Ratio Rank: 19
ZENA Martin Ratio Rank: 19

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.

ZENA vs. RCAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ZenaTech Inc (ZENA) 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.

	ZENA	RCAT	Difference
Sharpe ratio Return per unit of total volatility	-0.46	0.83	-1.29
Sortino ratio Return per unit of downside risk	-0.19	1.92	-2.11
Omega ratio Gain probability vs. loss probability	0.98	1.22	-0.24
Calmar ratio Return relative to maximum drawdown	-0.62	1.66	-2.27
Martin ratio Return relative to average drawdown	-1.07	3.34	-4.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZENA vs. RCAT - Sharpe Ratio Comparison

The current ZENA Sharpe Ratio is -0.46, which is lower than the RCAT Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of ZENA 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

	ZENA	RCAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.46	0.83	-1.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.37	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.26	-0.06	-0.21

Drawdowns

ZENA vs. RCAT - Drawdown Comparison

The maximum ZENA drawdown since its inception was -87.96%, smaller than the maximum RCAT drawdown of -99.76%. Use the drawdown chart below to compare losses from any high point for ZENA and RCAT.

Drawdown Indicators

	ZENA	RCAT	Difference
Max Drawdown Largest peak-to-trough decline	-87.96%	-99.76%	+11.80%
Max Drawdown (1Y) Largest decline over 1 year	-81.46%	-60.08%	-21.38%
Max Drawdown (3Y) Largest decline over 3 years	—	-67.16%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-92.25%	—
Current Drawdown Current decline from peak	-85.34%	-91.73%	+6.39%
Average Drawdown Average peak-to-trough decline	-63.00%	-95.53%	+32.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.98%	29.75%	+17.23%

Volatility

ZENA vs. RCAT - Volatility Comparison

ZenaTech Inc (ZENA) has a higher volatility of 42.38% compared to Red Cat Holdings, Inc. (RCAT) at 38.59%. This indicates that ZENA's price experiences larger fluctuations and is considered to be riskier than RCAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZENA	RCAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	42.38%	38.59%	+3.79%
Volatility (6M) Calculated over the trailing 6-month period	76.75%	83.20%	-6.45%
Volatility (1Y) Calculated over the trailing 1-year period	108.64%	120.70%	-12.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	249.18%	114.95%	+134.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	249.18%	239.60%	+9.58%

Dividends

ZENA vs. RCAT - Dividend Comparison

Neither ZENA nor RCAT has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both ZENA and RCAT in my portfolio?

ZENA and RCAT have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ZENA or RCAT?

ZENA has higher volatility (42.38%) compared to RCAT (38.59%). In terms of maximum drawdown, ZENA dropped -87.96% vs RCAT's -99.76%.

Which has better risk-adjusted returns?

RCAT currently has the higher Sharpe Ratio (0.83 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.