Cypherpunk Technologies (CYPH)
Market Price (5/11/2026): $1.24 | Market Cap: $104.0 MilSector: Financials | Industry: Asset Management & Custody Banks
Cypherpunk Technologies (CYPH)
Market Price (5/11/2026): $1.24Market Cap: $104.0 MilSector: FinancialsIndustry: Asset Management & Custody Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -14% Megatrend and thematic driversMegatrends include Digital & Alternative Assets, Crypto & Blockchain, and Cybersecurity. Themes include Digital Asset Custody, Show more. | Weak multi-year price returns2Y Excs Rtn is -107%, 3Y Excs Rtn is -149% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -37 Mil Stock price has recently run up significantly6M Rtn6 month market price return is 160%, 12M Rtn12 month market price return is 255% High stock price volatilityVol 12M is 404% Key risksCYPH key risks include [1] severe financial instability characterized by persistent losses and negative cash flow, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -14% |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets, Crypto & Blockchain, and Cybersecurity. Themes include Digital Asset Custody, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -107%, 3Y Excs Rtn is -149% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -37 Mil |
| Stock price has recently run up significantly6M Rtn6 month market price return is 160%, 12M Rtn12 month market price return is 255% |
| High stock price volatilityVol 12M is 404% |
| Key risksCYPH key risks include [1] severe financial instability characterized by persistent losses and negative cash flow, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Cypherpunk Technologies (CYPH) stock has gained about 60% since 1/31/2026 because of the following key factors:
1. Stronger-than-expected full-year 2025 financial results. Cypherpunk Technologies reported a net income of $4.8 million for the year ended December 31, 2025, primarily driven by a $50.4 million unrealized gain on its Zcash treasury holdings. The company's earnings per share (EPS) of -$0.06 for Q4 2025 significantly surpassed analyst estimates of -$0.22 by 72.73% on March 16, 2026, leading to a 12.6% gain in the company's shares the following day.
2. Strategic investments and increased holdings in Zcash (ZEC). Cypherpunk reinforced its commitment to its privacy-focused digital asset strategy by making a $5 million strategic investment into the Zcash Open Development Lab (ZODL) on March 9, 2026. Additionally, on April 15, 2026, the company announced a new purchase of 9,163.32 ZEC for $2,150,000, which increased its total ZEC holdings to 303,906.40, representing approximately 1.82% of the Zcash network.
Show more
1. Stronger-than-expected full-year 2025 financial results. Cypherpunk Technologies reported a net income of $4.8 million for the year ended December 31, 2025, primarily driven by a $50.4 million unrealized gain on its Zcash treasury holdings. The company's earnings per share (EPS) of -$0.06 for Q4 2025 significantly surpassed analyst estimates of -$0.22 by 72.73% on March 16, 2026, leading to a 12.6% gain in the company's shares the following day.
2. Strategic investments and increased holdings in Zcash (ZEC). Cypherpunk reinforced its commitment to its privacy-focused digital asset strategy by making a $5 million strategic investment into the Zcash Open Development Lab (ZODL) on March 9, 2026. Additionally, on April 15, 2026, the company announced a new purchase of 9,163.32 ZEC for $2,150,000, which increased its total ZEC holdings to 303,906.40, representing approximately 1.82% of the Zcash network.
Show more
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The 59.6% change in CYPH stock from 1/31/2026 to 5/10/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312026 | 5102026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.75 | 1.19 | 59.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 41 | 84 | -50.6% |
| Cumulative Contribution | 0.0% |
Market Drivers
1/31/2026 to 5/10/2026| Return | Correlation | |
|---|---|---|
| CYPH | 59.6% | |
| Market (SPY) | 3.6% | 55.5% |
| Sector (XLF) | -3.6% | 35.6% |
Fundamental Drivers
The 166.1% change in CYPH stock from 10/31/2025 to 5/10/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312025 | 5102026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.45 | 1.19 | 166.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 41 | 84 | -50.6% |
| Cumulative Contribution | 0.0% |
Market Drivers
10/31/2025 to 5/10/2026| Return | Correlation | |
|---|---|---|
| CYPH | 166.1% | |
| Market (SPY) | 5.5% | 9.2% |
| Sector (XLF) | -1.3% | 12.8% |
Fundamental Drivers
The 184.6% change in CYPH stock from 4/30/2025 to 5/10/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302025 | 5102026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.42 | 1.19 | 184.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 41 | 84 | -50.8% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2025 to 5/10/2026| Return | Correlation | |
|---|---|---|
| CYPH | 184.6% | |
| Market (SPY) | 30.4% | 9.9% |
| Sector (XLF) | 6.7% | 9.6% |
Fundamental Drivers
The -69.6% change in CYPH stock from 4/30/2023 to 5/10/2026 was primarily driven by a -86.5% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 4302023 | 5102026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.91 | 1.19 | -69.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 11 | 84 | -86.5% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2023 to 5/10/2026| Return | Correlation | |
|---|---|---|
| CYPH | -69.6% | |
| Market (SPY) | 78.7% | 9.8% |
| Sector (XLF) | 62.1% | 9.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CYPH Return | 44% | -86% | -8% | -31% | -60% | -9% | -95% |
| Peers Return | -17% | -61% | 39% | 51% | -38% | 30% | -46% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 7% | 95% |
Monthly Win Rates [3] | |||||||
| CYPH Win Rate | 42% | 25% | 50% | 33% | 33% | 60% | |
| Peers Win Rate | 43% | 28% | 40% | 42% | 40% | 52% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| CYPH Max Drawdown | -40% | -87% | -71% | -59% | -92% | -56% | |
| Peers Max Drawdown | -32% | -69% | -43% | -46% | -53% | -20% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: DTIL, XFOR, ALLO, XNCR, MSTR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/8/2026 (YTD)
How Low Can It Go
| Event | CYPH | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -45.8% | -18.8% |
| % Gain to Breakeven | 84.5% | 23.1% |
| Time to Breakeven | 180 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -52.7% | -9.5% |
| % Gain to Breakeven | 111.5% | 10.5% |
| Time to Breakeven | 51 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -51.8% | -6.7% |
| % Gain to Breakeven | 107.3% | 7.1% |
| Time to Breakeven | 51 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -59.7% | -33.7% |
| % Gain to Breakeven | 147.9% | 50.9% |
| Time to Breakeven | 329 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -25.6% | -3.7% |
| % Gain to Breakeven | 34.4% | 3.9% |
| Time to Breakeven | 272 days | 6 days |
In The Past
Cypherpunk Technologies's stock fell -45.8% during the 2025 US Tariff Shock. Such a loss loss requires a 84.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | CYPH | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -45.8% | -18.8% |
| % Gain to Breakeven | 84.5% | 23.1% |
| Time to Breakeven | 180 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -52.7% | -9.5% |
| % Gain to Breakeven | 111.5% | 10.5% |
| Time to Breakeven | 51 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -51.8% | -6.7% |
| % Gain to Breakeven | 107.3% | 7.1% |
| Time to Breakeven | 51 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -59.7% | -33.7% |
| % Gain to Breakeven | 147.9% | 50.9% |
| Time to Breakeven | 329 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -25.6% | -3.7% |
| % Gain to Breakeven | 34.4% | 3.9% |
| Time to Breakeven | 272 days | 6 days |
In The Past
Cypherpunk Technologies's stock fell -45.8% during the 2025 US Tariff Shock. Such a loss loss requires a 84.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Cypherpunk Technologies (CYPH)
Leap Therapeutics, Inc., a biopharmaceutical company, acquires and develops therapies for the treatment of cancer. Its lead clinical stage programs include DKN-01, a monoclonal antibody that inhibits Dickkopf-related protein 1, which is in multiple ongoing clinical trials for treating esophagogastric, hepatobiliary, gynecologic, and prostate cancers. Leap Therapeutics, Inc. has an option and license agreement with BeiGene, Ltd. to develop and commercialize DKN-01 in Asia (excluding Japan), Australia, and New Zealand. The company was formerly known as HealthCare Pharmaceuticals, Inc. and changed its name to Leap Therapeutics, Inc. in November 2015. Leap Therapeutics, Inc. was incorporated in 2011 and is based in Cambridge, Massachusetts.
AI Analysis | Feedback
nullAI Analysis | Feedback
nullAI Analysis | Feedback
nullAI Analysis | Feedback
nullAI Analysis | Feedback
nullAI Analysis | Feedback
Cypherpunk Technologies Inc. (CYPH) faces several key risks due to its unique dual business model, which includes a digital asset treasury strategy focused on Zcash (ZEC) and the development of cancer therapies through its subsidiary, Leap Therapeutics, Inc.. The primary risks include:1. Cryptocurrency Price Volatility and Market Conditions
Cypherpunk Technologies has a significant portion of its assets tied to Zcash (ZEC) as part of its digital asset treasury strategy. The price of cryptocurrencies, including ZEC, is highly volatile, which directly impacts the value of Cypherpunk's holdings and can lead to substantial unrealized losses. This volatility can also cause the company's common stock price to be highly correlated to the price of ZEC.2. Regulatory and Legal Uncertainty in the Digital Asset Space
The digital asset industry, particularly for privacy-focused cryptocurrencies like Zcash, is subject to significant legal, commercial, regulatory, and technical uncertainties. Regulatory scrutiny on privacy coins could restrict mainstream institutional adoption, directly impacting Cypherpunk's business model and the value of its digital assets. Changes in these conditions could adversely affect the company's operations and financial performance.3. Risks Associated with Biopharmaceutical Development
Through its subsidiary Leap Therapeutics, Inc., Cypherpunk Technologies continues to develop novel therapies for cancer, including clinical-stage programs like DKN-01. Biopharmaceutical development inherently involves substantial risks, such as the failure of clinical trials, delays in regulatory approvals, and the high capital expenditure required for research and development. The dual pressure of funding biotech R&D and managing a volatile crypto treasury creates complex cash flow dynamics and financial challenges, including a history of net losses and negative operating cash flow.AI Analysis | Feedback
Emergence of Highly Effective Next-Generation Precision Oncology Therapies: The rapid development and clinical success of novel and highly personalized cancer treatments, such as advanced cell therapies (e.g., universal CAR-T cells optimized for solid tumors), gene editing therapies, or highly potent multi-specific antibodies/ADCs, pose an emerging threat. Should these next-generation therapies demonstrate significantly superior efficacy, safety, or broader applicability in the esophagogastric, hepatobiliary, gynecologic, and prostate cancers targeted by DKN-01, they could diminish the market opportunity and clinical relevance of DKN-01, analogous to how more advanced technologies disrupt existing ones.AI Analysis | Feedback
Addressable Markets for Cypherpunk Technologies (CYPH)
Cypherpunk Technologies (CYPH) operates in two main areas: a digital asset treasury strategy focused on Zcash and the development of novel cancer therapies through its subsidiary, Leap Therapeutics, Inc..
Privacy-Enhancing Technologies (PET) Market
- The global privacy-enhancing technologies market was estimated at USD 3,120.9 million in 2024 and is projected to reach USD 12,094.4 million by 2030, demonstrating a compound annual growth rate (CAGR) of 25.3% from 2025 to 2030.
- North America accounted for a substantial 39.8% share of the global privacy-enhancing technologies market in 2023.
- The U.S. privacy-enhancing technology market was valued at approximately USD 0.8 billion in 2024 and is anticipated to grow to USD 5.4 billion by 2032, with a CAGR of about 26.9%.
Blockchain Technology Market
- The global blockchain technology market size was estimated at USD 31.28 billion in 2024 and is projected to reach USD 1,431.54 billion by 2030, with a remarkable CAGR of 90.1% from 2025 to 2030.
- North America held a dominant share of 37.41% in the global blockchain technology market in 2024.
Oncology/Cancer Therapeutics Market
- The global oncology market was estimated at USD 320.3 billion in 2024 and is expected to grow to USD 866.1 billion by 2034, at a CAGR of 10.8% during the forecast period from 2025 to 2034.
- Another estimate indicates the global oncology market size was calculated at US$279.98 billion in 2026 and is projected to reach around US$748.17 billion by 2035, expanding at a CAGR of 11.54% between 2026 and 2035.
- The North American oncology market held approximately a 43% share in the global oncology market in 2024.
- The U.S. oncology market was valued at US$81.34 billion in 2025 and is projected to reach US$211.78 billion by 2034, growing at a CAGR of 11.75%.
- The global oncology drugs market size was valued at USD 135,494.17 million in 2020 and is projected to reach USD 274,400.63 million by 2030, with a CAGR of 7.5% from 2021 to 2030.
AI Analysis | Feedback
Expected Revenue Growth Drivers for Cypherpunk Technologies (CYPH)
Cypherpunk Technologies Inc. (CYPH) operates with a dual business model, focusing on a digital asset treasury strategy anchored by Zcash (ZEC) and the continued development of oncology product candidates through its subsidiary, Leap Therapeutics, Inc. Over the next 2-3 years, the company's revenue growth is expected to be driven by the following factors:
- Appreciation and Strategic Management of its Zcash (ZEC) Digital Asset Treasury: Cypherpunk Technologies is actively acquiring and holding Zcash (ZEC) as a core component of its digital asset treasury strategy, believing in the long-term value of privacy technology. Revenue growth can be realized through the appreciation of its ZEC holdings and strategic management or disposition of these assets.
- Growth in Adoption and Utility of the Zcash Protocol: The company actively participates in the development and governance of privacy-centric blockchain networks, particularly Zcash. Investments, such as the $5 million into Zcash Open Development Lab (ZODL), aim to enhance Zcash's usability and drive its adoption. Increased adoption and utility of the Zcash protocol are expected to generate demand for ZEC, thereby benefiting Cypherpunk's treasury holdings and potentially leading to revenue from related services or validator operations.
- Commercialization of Oncology Product Candidates through Leap Therapeutics: Although the company has strategically shifted its primary focus towards digital assets, its wholly-owned subsidiary, Leap Therapeutics, Inc., continues to develop novel therapies for cancer. The successful progression of drug candidates like DKN-01 (currently in multiple clinical trials) and FL-501 through clinical development, regulatory approval, and eventual market launch could generate significant revenue from product sales.
- Strategic Collaborations and Expansion into New Digital Asset or Privacy Technology Ventures: Cypherpunk Technologies is engaging in strategic collaborations within the blockchain and digital asset space, aimed at expanding its digital asset portfolio and enhancing market competitiveness. This could lead to new revenue streams from partnerships, the launch of innovative cybersecurity products, or the development of new services related to privacy technology, leveraging the company's mission to advance technologies guaranteeing privacy.
AI Analysis | Feedback
Share Issuance
- In September 2021, the company completed a public offering of common stock and pre-funded warrants, generating approximately $104 million in gross proceeds and $96.8 million in net proceeds.
- In October 2025, as part of a private placement, Leap Therapeutics issued 15,212,311 shares of common stock, pre-funded warrants for up to 80,768,504 shares, and warrants for an additional 71,985,605 shares, resulting in aggregate gross proceeds of $58.88 million.
Inbound Investments
- In October 2025, Leap Therapeutics secured a $58.88 million private investment in public equity (PIPE) led by Winklevoss Capital to initiate a digital asset treasury strategy, while also supporting its ongoing therapeutic programs.
Outbound Investments
- In January 2023, Leap Therapeutics acquired Flame Biosciences in an all-stock deal, gaining Flame's clinical-stage anti-Claudin18.2 monoclonal antibody FL-301 and approximately $50 million in net cash.
- In November 2025, following its rebranding to Cypherpunk Technologies, the company deployed approximately $50 million from the Winklevoss Capital investment to acquire 203,775.27 ZEC (Zcash) as part of its new digital asset treasury strategy.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Cypherpunk Technologies Earnings Notes | 12/16/2025 |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to CYPH.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04302026 | EEFT | Euronet Worldwide | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04242026 | HOMB | Home BancShares | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 1.5% | 1.5% | 0.0% |
| 03312026 | HBAN | Huntington Bancshares | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 7.1% | 7.1% | 0.0% |
| 03312026 | NP | Neptune Insurance | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 3.9% | 3.9% | 0.0% |
| 03272026 | JKHY | Jack Henry & Associates | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.3% | 0.3% | -4.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 6.06 |
| Mkt Cap | 0.5 |
| Rev LTM | 27 |
| Op Inc LTM | -69 |
| FCF LTM | -121 |
| FCF 3Y Avg | -132 |
| CFO LTM | -76 |
| CFO 3Y Avg | -82 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -23.5% |
| Rev Chg 3Y Avg | 4.0% |
| Rev Chg Q | -37.1% |
| QoQ Delta Rev Chg LTM | -9.8% |
| Op Inc Chg LTM | 16.8% |
| Op Inc Chg 3Y Avg | 0.6% |
| Op Mgn LTM | -152.4% |
| Op Mgn 3Y Avg | -77.7% |
| QoQ Delta Op Mgn LTM | -38.1% |
| CFO/Rev LTM | -160.9% |
| CFO/Rev 3Y Avg | -123.1% |
| FCF/Rev LTM | -612.0% |
| FCF/Rev 3Y Avg | -132.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.5 |
| P/S | 36.0 |
| P/Op Inc | -4.7 |
| P/EBIT | -3.6 |
| P/E | -4.7 |
| P/CFO | -4.3 |
| Total Yield | -18.6% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -45.4% |
| D/E | 0.1 |
| Net D/E | -0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 10.2% |
| 3M Rtn | 37.0% |
| 6M Rtn | 22.3% |
| 12M Rtn | 52.1% |
| 3Y Rtn | -64.5% |
| 1M Excs Rtn | 4.2% |
| 3M Excs Rtn | 30.2% |
| 6M Excs Rtn | 11.6% |
| 12M Excs Rtn | 23.4% |
| 3Y Excs Rtn | -144.9% |
Price Behavior
Price Behavior
| Market Price | $1.19 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 01/25/2017 | |
| Distance from 52W High | -59.9% | |
| 50 Days | 200 Days | |
| DMA Price | $0.80 | $0.78 |
| DMA Trend | up | up |
| Distance from DMA | 48.4% | 51.8% |
| 3M | 1YR | |
| Volatility | 140.2% | 405.8% |
| Downside Capture | 1.51 | 1.69 |
| Upside Capture | 493.49 | 388.05 |
| Correlation (SPY) | 51.6% | 9.8% |
CYPH Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 5.71 | 5.21 | 5.21 | 3.87 | 3.21 | 1.63 |
| Up Beta | 7.38 | 6.15 | 5.80 | -6.69 | -2.93 | 0.57 |
| Down Beta | 17.14 | 4.83 | 4.38 | 7.92 | 5.33 | 1.75 |
| Up Capture | 309% | 800% | 864% | 1216% | 2020% | 235% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 9 | 20 | 30 | 51 | 117 | 332 |
| Down Capture | -137% | 334% | 345% | 236% | 203% | 113% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 13 | 23 | 34 | 73 | 134 | 410 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CYPH | |
|---|---|---|---|---|
| CYPH | 250.1% | 403.6% | 1.14 | - |
| Sector ETF (XLF) | 5.2% | 14.6% | 0.13 | 9.5% |
| Equity (SPY) | 29.0% | 12.5% | 1.83 | 9.6% |
| Gold (GLD) | 39.8% | 27.0% | 1.22 | 6.2% |
| Commodities (DBC) | 50.6% | 18.0% | 2.21 | -8.4% |
| Real Estate (VNQ) | 13.0% | 13.5% | 0.66 | -0.7% |
| Bitcoin (BTCUSD) | -17.4% | 42.1% | -0.34 | 10.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CYPH | |
|---|---|---|---|---|
| CYPH | -41.2% | 203.9% | 0.30 | - |
| Sector ETF (XLF) | 8.9% | 18.6% | 0.36 | 10.2% |
| Equity (SPY) | 12.8% | 17.1% | 0.59 | 12.7% |
| Gold (GLD) | 20.9% | 17.9% | 0.95 | 5.2% |
| Commodities (DBC) | 13.8% | 19.1% | 0.59 | -1.4% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.08 | 8.5% |
| Bitcoin (BTCUSD) | 7.0% | 56.0% | 0.34 | 7.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CYPH | |
|---|---|---|---|---|
| CYPH | -34.2% | 161.3% | 0.21 | - |
| Sector ETF (XLF) | 12.6% | 22.2% | 0.52 | 10.5% |
| Equity (SPY) | 15.1% | 17.9% | 0.72 | 13.7% |
| Gold (GLD) | 13.4% | 15.9% | 0.69 | 6.7% |
| Commodities (DBC) | 9.3% | 17.8% | 0.44 | 3.0% |
| Real Estate (VNQ) | 5.8% | 20.7% | 0.24 | 9.2% |
| Bitcoin (BTCUSD) | 67.8% | 66.9% | 1.07 | 6.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/16/2026 | 12.6% | 1.2% | 27.7% |
| 11/12/2025 | 368.6% | 578.9% | 229.1% |
| 8/14/2025 | -28.1% | -20.8% | -11.9% |
| 3/26/2025 | 16.9% | -24.9% | 1.3% |
| 11/13/2024 | -7.7% | -16.9% | -3.7% |
| 8/12/2024 | -3.4% | 1.0% | 14.5% |
| 3/18/2024 | -3.2% | 14.0% | 34.8% |
| 11/13/2023 | 3.6% | 32.6% | 114.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 9 | 12 |
| # Negative | 9 | 9 | 6 |
| Median Positive | 4.8% | 4.0% | 10.8% |
| Median Negative | -3.2% | -5.7% | -16.8% |
| Max Positive | 368.6% | 578.9% | 229.1% |
| Max Negative | -28.1% | -24.9% | -26.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/16/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/13/2025 | 10-Q |
| 12/31/2024 | 03/26/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/12/2024 | 10-Q |
| 03/31/2024 | 05/13/2024 | 10-Q |
| 12/31/2023 | 03/18/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/24/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/12/2022 | 10-Q |
| 03/31/2022 | 05/13/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Mirabelli, Christopher | Direct | Sell | 3302026 | 0.71 | 60,000 | 42,630 | 92,632 | Form | |
| 2 | Mirabelli, Christopher | See footnotes | Sell | 11192025 | 3.14 | 676,319 | 2,123,642 | 6,707 | Form | |
| 3 | Cavanaugh, James H | See footnotes | Sell | 11192025 | 3.14 | 261,840 | Form | |||
| 4 | Onsi, Douglas E | CEO,CFO,Pres.,GC,Treas.&Sec. | See footnotes | Sell | 11192025 | 3.14 | 676,319 | 2,123,642 | 6,707 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.