CIFR vs. QQQ

Last updated Jun 9, 2026

CIFR (Cipher Mining Inc.) is a stock, while QQQ (Invesco QQQ ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 3 years, CIFR returned 119.40%/yr vs 27.15%/yr for QQQ. At a 0.42 correlation, their price movements are largely independent.

Performance

CIFR vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cipher Mining Inc. (CIFR) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CIFR achieves a 64.57% return, which is significantly higher than QQQ's 16.71% return.

CIFR

• 1D: 8.20%
• 1M: 18.20%
• YTD: 64.57%
• 6M: 24.69%
• 1Y: 522.82%
• 3Y*: 119.40%
• 5Y*: —
• 10Y*: —

QQQ

• 1D: 1.56%
• 1M: 0.68%
• YTD: 16.71%
• 6M: 15.00%
• 1Y: 35.78%
• 3Y*: 27.15%
• 5Y*: 16.98%
• 10Y*: 21.59%

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

CIFR vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CIFR Cipher Mining Inc.	64.57%	218.10%	12.35%	637.50%	-87.90%	-54.92%
QQQ Invesco QQQ ETF	16.71%	20.77%	25.58%	54.86%	-32.58%	4.88%

Correlation

The correlation between CIFR and QQQ is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (All Time) Calculated using the full available price history since Aug 31, 2021	0.42

Return for Risk

CIFR vs. QQQ — Risk / Return Rank

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

CIFR

CIFR Risk / Return Rank: 96
CIFR Sharpe Ratio Rank: 99
CIFR Sortino Ratio Rank: 95
CIFR Omega Ratio Rank: 92
CIFR Calmar Ratio Rank: 98
CIFR Martin Ratio Rank: 96

QQQ

QQQ Risk / Return Rank: 69
QQQ Sharpe Ratio Rank: 74
QQQ Sortino Ratio Rank: 67
QQQ Omega Ratio Rank: 70
QQQ Calmar Ratio Rank: 66
QQQ Martin Ratio Rank: 68

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.

CIFR vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cipher Mining Inc. (CIFR) and Invesco QQQ ETF (QQQ). 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.

	CIFR	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	4.86	2.15	+2.71
Sortino ratio: Return per unit of downside risk	3.84	2.77	+1.06
Omega ratio: Gain probability vs. loss probability	1.45	1.38	+0.07
Calmar ratio: Return relative to maximum drawdown	10.27	3.00	+7.26
Martin ratio: Return relative to average drawdown	20.60	11.43	+9.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CIFR vs. QQQ - Sharpe Ratio Comparison

The current CIFR Sharpe Ratio is 4.86, which is higher than the QQQ Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of CIFR and QQQ, 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

	CIFR	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.86	2.15	+2.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.76	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.40	-0.24

Drawdowns

CIFR vs. QQQ - Drawdown Comparison

The maximum CIFR drawdown since its inception was -97.16%, which is greater than QQQ's maximum drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for CIFR and QQQ.

Drawdown Indicators

	CIFR	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-97.16%	-82.97%	-14.19%
Max Drawdown (1Y) Largest decline over 1 year	-51.38%	-11.96%	-39.42%
Max Drawdown (3Y) Largest decline over 3 years	-71.74%	-22.77%	-48.97%
Max Drawdown (5Y) Largest decline over 5 years	—	-35.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-7.61%	-4.03%	-3.58%
Average Drawdown Average peak-to-trough decline	-66.47%	-32.77%	-33.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.55%	3.14%	+22.41%

Volatility

CIFR vs. QQQ - Volatility Comparison

Cipher Mining Inc. (CIFR) has a higher volatility of 27.70% compared to Invesco QQQ ETF (QQQ) at 6.84%. This indicates that CIFR's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CIFR	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.70%	6.84%	+20.86%
Volatility (6M) Calculated over the trailing 6-month period	70.95%	13.20%	+57.75%
Volatility (1Y) Calculated over the trailing 1-year period	108.62%	16.74%	+91.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	122.03%	22.49%	+99.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	122.03%	22.36%	+99.67%

Dividends

CIFR vs. QQQ - Dividend Comparison

CIFR has not paid dividends to shareholders, while QQQ's dividend yield for the trailing twelve months is around 0.39%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIFR Cipher Mining Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQ Invesco QQQ ETF	0.39%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both CIFR and QQQ in my portfolio?

CIFR and QQQ have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CIFR or QQQ?

CIFR has higher volatility (27.70%) compared to QQQ (6.84%). In terms of maximum drawdown, CIFR dropped -97.16% vs QQQ's -82.97%.

Which has better risk-adjusted returns?

CIFR currently has the higher Sharpe Ratio (4.86 vs 2.15), 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.