Evernorth (XRPN)


Market Price (11/5/2026): $10.72 | Market Cap: $713.2 MilSector: Financials | Industry: Diversified Capital Markets

Evernorth (XRPN)


Market Price (11/5/2026): $10.72
Market Cap: $713.2 Mil
Sector: Financials
Industry: Diversified Capital Markets

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Weak multi-year price returns
2Y Excs Rtn is -27%, 3Y Excs Rtn is -78%

High stock price volatility
Vol 12M is 113%

Key risks
XRPN key risks include [1] the inability to complete an initial business combination, Show more.

0 Weak multi-year price returns
2Y Excs Rtn is -27%, 3Y Excs Rtn is -78%
1 High stock price volatility
Vol 12M is 113%
2 Key risks
XRPN key risks include [1] the inability to complete an initial business combination, Show more.

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 11/4/2026

Evernorth (XRPN) stock has remained largely at the same level since 7/31/2026 because of the following key factors:

1. Initial Post-SPAC Merger Volatility and Price Correction.

Evernorth Holdings Inc. began trading on Nasdaq under XRPN in fiscal Q4 2026, specifically on October 8, 2026, following its business combination with Armada Acquisition Corp. II. The stock experienced significant volatility upon its debut, initially trading around $25.01 on October 7 and $24.20 on October 8, but quickly corrected to a lower range, settling between approximately $10 and $16 by early November 2026. This pattern is characteristic of post-SPAC merger assets, where initial speculative interest often leads to a price surge followed by a rationalization of value.

2. Forward-Looking Strategy Without Immediate Tangible Financial Impact.

A core aspect of Evernorth's strategy, articulated on October 14, 2026, is the deployment of its approximately 473 million XRP treasury, valued at about $648 million, into institutional yield strategies beginning in fiscal Q4 2026 with partners including Ripple, Coinbase, Kraken, and BitGo. While these plans aim to generate earnings and grow XRP per share, they represent prospective initiatives. The absence of immediate, quantifiable financial results from these new and complex strategies meant the stock lacked near-term catalysts to drive sustained upward movement beyond its initial listing excitement, contributing to its stable-to-downward trend.

Show more
Updated on 11/4/2026

Evernorth (XRPN) stock has remained largely at the same level since 7/31/2026 because of the following key factors:

1. Initial Post-SPAC Merger Volatility and Price Correction.

Evernorth Holdings Inc. began trading on Nasdaq under XRPN in fiscal Q4 2026, specifically on October 8, 2026, following its business combination with Armada Acquisition Corp. II. The stock experienced significant volatility upon its debut, initially trading around $25.01 on October 7 and $24.20 on October 8, but quickly corrected to a lower range, settling between approximately $10 and $16 by early November 2026. This pattern is characteristic of post-SPAC merger assets, where initial speculative interest often leads to a price surge followed by a rationalization of value.

2. Forward-Looking Strategy Without Immediate Tangible Financial Impact.

A core aspect of Evernorth's strategy, articulated on October 14, 2026, is the deployment of its approximately 473 million XRP treasury, valued at about $648 million, into institutional yield strategies beginning in fiscal Q4 2026 with partners including Ripple, Coinbase, Kraken, and BitGo. While these plans aim to generate earnings and grow XRP per share, they represent prospective initiatives. The absence of immediate, quantifiable financial results from these new and complex strategies meant the stock lacked near-term catalysts to drive sustained upward movement beyond its initial listing excitement, contributing to its stable-to-downward trend.

3. Historical Net Loss and XRP Impairment Concerns.

Prior to its public listing, Evernorth reported a net loss of $188.1 million in the first half of fiscal 2026 (ending June 30, 2026), primarily due to a substantial $264.1 million impairment charge on its XRP holdings. This significant impairment, reflecting a decline in the underlying asset's value under its accounting treatment, likely raised investor caution. Although the company secured an $80 million committed equity facility on October 26, 2026, to support XRP treasury growth, the previous losses and the inherent volatility of its primary asset (XRP) limited sustained upward momentum post-debut.

4. Absence of Strong Analyst Price Targets Post-Listing.

Despite speculative price mentions prior to its Nasdaq debut, Evernorth Holdings Inc. did not have official analyst price targets from major research firms like Zacks Investment Research or Stockopedia as of early November 2026. This lack of clear, consensus-driven analyst buy ratings or aggressive price targets after its public offering likely contributed to the stock consolidating in its post-debut range rather than initiating a new upward trend, as investors sought more concrete valuation signals.

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Stock Movement Drivers

Fundamental Drivers

The 1.3% change in XRPN stock from 7/31/2026 to 11/4/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.
(LTM values as of)731202611042026Change
Stock Price ($)10.4510.591.3%
Change Contribution By: 
Total Revenues ($ Mil)��0.0%
Net Income Margin (%)��0.0%
P/E Multiple��0.0%
Shares Outstanding (Mil)32320.0%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/4/2026
ReturnCorrelation
XRPN1.3% 
Market (SPY)2.6%1.9%
Sector (XLF)4.0%-18.5%

Fundamental Drivers

The 2.4% change in XRPN stock from 4/30/2026 to 11/4/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.
(LTM values as of)430202611042026Change
Stock Price ($)10.3410.592.4%
Change Contribution By: 
Total Revenues ($ Mil)��0.0%
Net Income Margin (%)��0.0%
P/E Multiple��0.0%
Shares Outstanding (Mil)32320.0%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/4/2026
ReturnCorrelation
XRPN2.4% 
Market (SPY)7.0%1.3%
Sector (XLF)14.0%-13.8%

Fundamental Drivers

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Market Drivers

10/31/2025 to 11/4/2026
ReturnCorrelation
XRPN  
Market (SPY)13.4%0.8%
Sector (XLF)14.4%-9.2%

Fundamental Drivers

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Market Drivers

10/31/2023 to 11/4/2026
ReturnCorrelation
XRPN  
Market (SPY)89.7%0.8%
Sector (XLF)91.0%-9.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
XRPN Return-----0%3%3%
Peers Return39%4%-8%-25%4%41%47%
S&P 500 Return27%-19%24%23%16%11%102%

Monthly Win Rates [3]
XRPN Win Rate----50%73% 
Peers Win Rate53%52%42%45%57%56% 
S&P 500 Win Rate75%42%67%75%67%36% 

Max Drawdowns [4]
XRPN Max Drawdown------73% 
Peers Max Drawdown-15%-20%-22%-36%-41%-31% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: UNH, CVS, ELV, CNC, HUM.
[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 11/4/2026 (YTD)

How Low Can It Go

XRPN has limited trading history. Below is the Financials sector ETF (XLF) in its place.

EventXLFS&P 500
2025 US Tariff Shock
  % Loss-15.5%-18.8%
  % Gain to Breakeven18.4%23.1%
  Time to Breakeven80 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-10.7%-9.5%
  % Gain to Breakeven12.0%10.5%
  Time to Breakeven26 days24 days
2023 SVB Regional Banking Crisis
  % Loss-16.1%-6.7%
  % Gain to Breakeven19.1%7.1%
  Time to Breakeven270 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-22.3%-24.5%
  % Gain to Breakeven28.6%32.4%
  Time to Breakeven467 days427 days
2020 COVID-19 Crash
  % Loss-42.8%-33.7%
  % Gain to Breakeven74.8%50.9%
  Time to Breakeven289 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-19.7%-19.2%
  % Gain to Breakeven24.5%23.8%
  Time to Breakeven123 days105 days

Compare to UNH, CVS, ELV, CNC, HUM

In The Past

State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% 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.

XRPN has limited trading history. Below is the Financials sector ETF (XLF) in its place.

EventXLFS&P 500
2022 Inflation Shock & Fed Tightening
  % Loss-22.3%-24.5%
  % Gain to Breakeven28.6%32.4%
  Time to Breakeven467 days427 days
2020 COVID-19 Crash
  % Loss-42.8%-33.7%
  % Gain to Breakeven74.8%50.9%
  Time to Breakeven289 days140 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-21.4%-12.2%
  % Gain to Breakeven27.3%13.9%
  Time to Breakeven272 days62 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-26.1%-17.9%
  % Gain to Breakeven35.3%21.8%
  Time to Breakeven162 days123 days
2008-2009 Global Financial Crisis
  % Loss-78.3%-53.4%
  % Gain to Breakeven359.8%114.4%
  Time to Breakeven2329 days1085 days

Compare to UNH, CVS, ELV, CNC, HUM

In The Past

State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% 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 Evernorth (XRPN)

Evernorth (XRPN) is a newly organized blank check company, also known as a Special Purpose Acquisition Company (SPAC), formed with the sole purpose of acquiring and merging with one or more existing businesses. As a SPAC, Evernorth does not currently operate any businesses or offer any products or services. Its primary activity is to identify, evaluate, and complete an initial business combination with a private company, thereby bringing that company to the public market.

The company intends to focus its acquisition efforts on target businesses within the FinTech, SaaS (Software as a Service), and AI (Artificial Intelligence) industries. Evernorth specifically seeks private companies that could benefit from becoming publicly listed and that may be struggling to access public capital through traditional means in the current market environment. The management team brings significant experience, having successfully completed a prior SPAC merger with Rezolve AI Limited (NASDAQ: RZLV) in August 2024, demonstrating their capability to identify and execute on such opportunities.

For investors, Evernorth represents an alternative investment opportunity in late-stage private companies within its target sectors. Its 'service' is to leverage the management team's expertise and industry contacts to identify a suitable acquisition target and facilitate its public listing, providing a new avenue for growth and public capital for those selected businesses.

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  • Public Listing Facilitation: Evernorth is a special purpose acquisition company (SPAC) formed to facilitate the public listing of a private operating company through a merger or similar business combination.
  • Investment Opportunity: It serves as an investment vehicle offering public investors an alternative opportunity to invest in growing private companies, with a focus on FinTech, SaaS, and AI industries.

AI Analysis | Feedback

Evernorth (XRPN) is a newly organized Special Purpose Acquisition Company (SPAC) that was incorporated on October 3, 2024. As a SPAC, its primary purpose is to effect a business combination (such as a merger or acquisition) with one or more existing private operating businesses. The company has not yet identified or selected any specific business combination target and has not commenced operations. Therefore, Evernorth does not currently have any major customers, as it does not sell products or services to companies or individuals.

AI Analysis | Feedback

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Here is the management team for Evernorth (symbol: XRPN):

Asheesh Birla, Founder and Chief Executive Officer

Asheesh Birla is the founder and Chief Executive Officer of Evernorth. He previously served as a senior executive at Ripple, where he played a key role in building institutional access to the XRP economy. Evernorth was founded and is led by Mr. Birla.

Matt Harris, Chief Financial Officer

Matt Harris oversees Evernorth's financial strategy and operations.

Hugo Jeandesboz, Chief Investment Officer

Hugo Jeandesboz joined Evernorth as Chief Investment Officer from Coinbase Asset Management, where he held the position of Co-Chief Investment Officer and led the firm's Solutions investment strategies. He possesses over a decade of experience in institutional trading and portfolio management within both digital assets and traditional markets.

Sagar Shah, Chief Business Officer

Sagar Shah is responsible for Evernorth's partnerships, product commercialization, and ecosystem strategy.

Meg Nakamura, Chief Operating Officer

Meg Nakamura drives Evernorth's operational execution, go-to-market strategy, and organizational growth.

AI Analysis | Feedback

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The primary risks for Evernorth (XRPN), a newly organized blank check company, stem from its nature as a Special Purpose Acquisition Company (SPAC) that has yet to identify a target business:

  1. Inability to complete an initial business combination: Evernorth is formed for the purpose of effecting a business combination, and its operations are limited until such a combination occurs. The most significant risk is that the company may not be able to identify or successfully complete a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination within the timeframe typically required for SPACs. If it fails to do so, it would likely be forced to liquidate, returning funds to public shareholders and potentially resulting in the loss of any invested capital.
  2. Failure to identify a suitable target business or complete a value-enhancing acquisition: Even if Evernorth identifies a potential target, there is a risk that it may not be able to successfully negotiate or complete a business combination on favorable terms. Furthermore, there is a risk that the chosen target business, despite efforts to focus on FinTech, SaaS, and AI industries, may not perform as expected post-combination, failing to generate anticipated shareholder value or achieve its business objectives.
  3. Reliance on the management team and their ability to execute: The success of Evernorth is highly dependent on the "significant experience and contacts of our management team to complete our initial business combination." While the management team has a track record with Armada Acquisition Corp. I, which successfully merged with Rezolve AI Limited, there is no guarantee that they will be able to replicate this success with Evernorth. The loss of key personnel or the inability of the management team to effectively identify, vet, and execute a suitable business combination could significantly impair the company's prospects.
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AI Analysis | Feedback

Re-emergence of a robust and attractive traditional initial public offering (IPO) market for the small and middle-cap FinTech, SaaS, and AI companies that Evernorth targets.

AI Analysis | Feedback

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AI Analysis | Feedback

Evernorth (XRPN) is positioned as a digital asset treasury company focused on the XRP economy, having recently completed its merger with Armada Acquisition Corp. II and beginning trading on Nasdaq. The company's primary objective is to manage its significant XRP holdings and grow its XRP per share over time. Here are 3-5 expected drivers of Evernorth's future revenue growth over the next 2-3 years:
  1. Yield Generation from Active Management of XRP Holdings: Evernorth plans to actively deploy its substantial XRP holdings through decentralized finance (DeFi) strategies, including lending and liquidity provision on the XRP Ledger. These activities are designed to generate yield and increase the quantity of XRP tokens backing each share over time, directly contributing to the company's asset growth.
  2. Participation and Investment in the XRP Ledger Ecosystem: The company intends to participate in the broader XRP Ledger ecosystem and engage in validator operations. Such involvement can generate fees, rewards, or strategic returns through investments in projects and infrastructure built within the XRP economy, thereby enhancing its digital asset portfolio.
  3. Appreciation in the Value of XRP: As a digital asset treasury firm with approximately 473 million XRP, Evernorth's overall asset value and perceived financial growth are inherently tied to the market performance of XRP. An increase in the market price of XRP would directly contribute to the growth in the dollar value of its treasury.
  4. Strategic Deployment of Capital across the XRP Economy: Evernorth aims to strategically deploy its capital to build institutional access to the XRP economy. This involves putting its capital to work through potential funding or acquisitions of projects, technologies, or services that align with its goal of increasing XRP per share and generating returns within the evolving XRP ecosystem.

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Peer Outperformance in Diversified Capital Markets

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Share of Diversified Capital Markets constituents that XRPN has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
88%
of 34 industry peers · 3.3% return
3Y
—
insufficient peer history
5Y
—
insufficient peer history
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Median price return by industry across the Financials sector, ranked by 5Y. Diversified Capital Markets is XRPN's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Reinsurance 6 35.5%75.2%130.3% SPNT 170% · RNR 149% · RGA 146%
Investment Banking & Brokerage 13 1.8%95.7%99.6% IBKR 329% · SNEX 173% · GS 157%
Diversified Banks 12 34.2%147.9%96.6% CM 152% · JPM 137% · RY 136%
Multi-Sector Holdings 4 10.9%62.5%86.0% BRK-B 101% · VOYA 71% · JEF 44%
Life & Health Insurance 20 12.7%56.2%79.1% JXN 536% · UNM 233% · MFC 202%
Property & Casualty Insurance 42 23.5%76.1%70.7% TRV 188% · PGR 177% · ACGL 176%
Multi-line Insurance 9 9.6%68.6%58.3% GNW 115% · AIZ 104% · L 100%
Regional Banks 264 34.6%91.5%51.6% CBC 273% · FCNCA 183% · NIC 143%
Financial Exchanges & Data 15 20.6%40.7%36.8% CBOE 178% · VIRT 125% · CME 72%
Insurance Brokers 15 5.9%14.3%32.4% LIFE 337% · ARX 89% · AJG 89%
Asset Management & Custody Banks 85 -4.4%22.2%12.7% VCTR 270% · WT 220% · AAMI 208%
Consumer Finance 30 8.6%85.4%9.8% ENVA 391% · FCFS 139% · AXP 105%
Commercial & Residential Mortgage Finance 14 -47.8%26.0%4.2% FNMA 349% · FMCC 316% · ACT 157%
Diversified Financial Services 4 2.0%22.6%3.3% FRHC 166% · EQH 80%
Specialized Finance 3 16.0%34.5%-18.0% HASI -18% · CACC -28%
Transaction & Payment Processing Services 17 21.7%25.4%-23.2% V 117% · MA 107% · CPAY 73%
Mortgage REITs 35 -17.6%-5.3%-32.0% RITM 38% · DX 20% · AGNC 12%
Diversified Capital Markets ← 20 -39.8%6.3%-65.5% LPLA 87% · TW 39% · RIOT -53%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

XRPNUNHCVSELVCNCHUMMedian
NameEvernorthUnitedHe.CVS Heal.Elevance.Centene Humana  
Mkt Price10.79413.0880.92434.1877.00424.75247.00
Mkt Cap0.3370.5103.794.038.051.072.5
Rev LTM-449,662420,614201,831203,895145,679203,895
Op Inc LTM-23,92415,061-1,520-15,061
FCF LTM-22,82615,5676,5143,9431,9496,514
FCF 3Y Avg-17,7657,8493,7172,515-2223,717
CFO LTM-26,19518,7087,5964,7242,5397,596
CFO 3Y Avg-21,26510,8094,8803,2494084,880

Growth & Margins

XRPNUNHCVSELVCNCHUMMedian
NameEvernorthUnitedHe.CVS Heal.Elevance.Centene Humana  
Rev Chg LTM-3.3%6.7%3.6%9.7%18.3%6.7%
Rev Chg 3Y Avg-7.7%6.5%6.3%10.8%13.9%7.7%
Rev Chg Q--0.4%5.4%1.4%1.9%26.2%1.9%
QoQ Delta Rev Chg LTM--0.1%1.3%0.4%0.5%6.2%0.5%
Op Inc Chg LTM--9.2%41.4%-38.8%-38.8%
Op Inc Chg 3Y Avg--8.4%4.1%--16.5%--8.4%
Op Mgn LTM-5.3%3.6%-0.7%-3.6%
Op Mgn 3Y Avg-6.5%3.1%-1.0%-3.1%
QoQ Delta Op Mgn LTM-0.5%0.2%--0.1%-0.2%
CFO/Rev LTM-5.8%4.4%3.8%2.3%1.7%3.8%
CFO/Rev 3Y Avg-5.0%2.7%2.5%1.7%0.1%2.5%
FCF/Rev LTM-5.1%3.7%3.2%1.9%1.3%3.2%
FCF/Rev 3Y Avg-4.1%1.9%1.9%1.3%-0.4%1.9%

Valuation

XRPNUNHCVSELVCNCHUMMedian
NameEvernorthUnitedHe.CVS Heal.Elevance.Centene Humana  
Mkt Cap0.3370.5103.794.038.051.072.5
P/S-0.80.20.50.20.40.4
P/Op Inc-15.56.9-25.0-15.5
P/EBIT-15.76.812.214.921.514.9
P/E-23.39.418.326.139.923.3
P/CFO-14.15.512.48.120.112.4
Total Yield-6.6%14.1%7.1%3.9%3.4%6.6%
Dividend Yield0.0%2.2%3.3%1.6%0.0%0.9%1.2%
FCF Yield 3Y Avg-5.0%7.6%4.6%10.9%0.4%5.0%
D/E0.00.20.70.30.40.30.3
Net D/E-0.00.10.6-0.1-0.2-0.2-0.0

Returns

XRPNUNHCVSELVCNCHUMMedian
NameEvernorthUnitedHe.CVS Heal.Elevance.Centene Humana  
1M Rtn-72.1%9.1%-6.3%10.1%19.8%5.3%7.2%
3M Rtn3.1%0.7%-17.8%11.5%14.9%17.0%7.3%
6M Rtn3.8%13.8%-5.6%16.8%39.2%73.2%15.3%
12M Rtn5.3%28.2%6.8%39.9%113.2%52.7%34.0%
3Y Rtn5.3%-17.1%29.0%1.5%11.1%-7.6%3.4%
1M Excs Rtn-40.5%13.0%-2.5%11.7%22.4%8.5%10.1%
3M Excs Rtn5.1%4.7%-13.4%13.2%21.8%17.8%9.2%
6M Excs Rtn1.0%11.0%-8.4%14.1%36.4%70.4%12.5%
12M Excs Rtn-5.3%16.5%-4.3%30.9%112.6%43.1%23.7%
3Y Excs Rtn-77.9%-99.4%-49.4%-79.8%-69.4%-98.0%-78.8%

Comparison Analyses

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Financials

Segment Financials

Assets by Segment
$ Mil2025
Single segment235
Total235


Price Behavior

Price Behavior
Market Price$10.59 
Market Cap ($ Bil)0.3 
First Trading Date06/24/2025 
Distance from 52W High-73.1% 
   50 Days200 Days
DMA Price$14.48$11.40
DMA Trendupup
Distance from DMA-26.9%-7.1%
 3M1YR
Volatility226.5%113.0%
Downside Capture-120.62 
Upside Capture-44.84-7.82
Correlation (S&P 500)6.5% 
XRPN Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta3.181.350.790.30-0.360.02
Up Beta-9.59-4.49-1.81-0.690.810.50
Down Beta6.017.976.152.240.46-1.15
Up Capture-165%-78%-45%-16%-7%-1%
Bmk +ve Days12182862130427
Stock +ve Days61526489292
Down Capture56%-405%-319%-164%-100%-59%
Bmk -ve Days10253664121325
Stock -ve Days162024479090

[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 XRPN
XRPN3.3%113.0%0.53-
Sector ETF (XLF)15.0%15.0%0.71-9.2%
Equity (SPY)13.2%12.9%0.680.8%
Gold (GLD)1.0%28.8%0.03-5.0%
Commodities (DBC)35.9%21.2%1.340.9%
Real Estate (VNQ)14.3%14.1%0.70-14.2%
Bitcoin (BTCUSD)-28.2%43.4%-0.650.6%

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 XRPN
XRPN0.7%113.0%0.53-
Sector ETF (XLF)10.0%18.3%0.40-9.2%
Equity (SPY)12.5%17.2%0.550.8%
Gold (GLD)17.3%19.1%0.73-5.0%
Commodities (DBC)8.0%19.6%0.290.9%
Real Estate (VNQ)1.8%18.9%-0.01-14.2%
Bitcoin (BTCUSD)5.5%51.5%0.290.6%

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 XRPN
XRPN0.3%113.0%0.53-
Sector ETF (XLF)13.7%22.1%0.56-9.2%
Equity (SPY)15.4%18.0%0.730.8%
Gold (GLD)11.9%16.5%0.59-5.0%
Commodities (DBC)7.4%18.1%0.330.9%
Real Estate (VNQ)5.7%20.7%0.23-14.2%
Bitcoin (BTCUSD)61.0%66.2%1.010.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity1.9 Mil
Short Interest: % Change Since 9302026462.2%
Average Daily Volume2.8 Mil
Days-to-Cover Short Interest1
Basic Shares Quantity31.6 Mil
Short % of Basic Shares6.1%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/13/202610-Q
12/31/202502/13/202610-Q
09/30/202512/04/202510-K
06/30/202508/11/202510-Q
03/31/202505/21/2025424B4
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/13/202610-Q
12/31/202502/13/202610-Q
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