GS vs. QBTS

Last updated Jun 13, 2026

GS (The Goldman Sachs Group, Inc.) and QBTS (D-Wave Quantum Inc) are both stocks. GS operates in Capital Markets (Financial Services), while QBTS operates in Computer Hardware (Technology). Over the past 3 years, GS returned 49.31%/yr vs 123.62%/yr for QBTS. At a 0.25 correlation, their price movements are largely independent.

Performance

GS vs. QBTS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Goldman Sachs Group, Inc. (GS) and D-Wave Quantum Inc (QBTS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GS achieves a 22.08% return, which is significantly higher than QBTS's -10.63% return.

GS

• 1D: 2.62%
• 1M: 12.54%
• YTD: 22.08%
• 6M: 20.84%
• 1Y: 76.70%
• 3Y*: 49.31%
• 5Y*: 25.98%
• 10Y*: 24.48%

QBTS

• 1D: -1.89%
• 1M: 14.84%
• YTD: -10.63%
• 6M: -10.46%
• 1Y: 54.05%
• 3Y*: 123.62%
• 5Y*: —
• 10Y*: —

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

GS vs. QBTS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GS The Goldman Sachs Group, Inc.	22.08%	56.64%	52.03%	15.91%	4.06%
QBTS D-Wave Quantum Inc	-10.63%	211.31%	854.44%	-38.88%	-83.96%

Correlation

The correlation between GS and QBTS 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	0.29
Correlation (All Time) Calculated using the full available price history since Aug 8, 2022	0.25

The correlation between GS and QBTS shifts across timeframes, from 0.25 (all time) to 0.42 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap GS : $327.33B QBTS : $8.59B
EPS GS : $57.41 QBTS : -$1.08
PS Ratio GS : 3.02 QBTS : 637.12
PB Ratio GS : 2.66 QBTS : 7.64
Total Revenue (TTM) GS : $110.77B QBTS : $12.44M
Gross Profit (TTM) GS : $61.53B QBTS : $8.25M
EBITDA (TTM) GS : $24.94B QBTS : -$399.03M

Return for Risk

GS vs. QBTS — Risk / Return Rank

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

GS

GS Risk / Return Rank: 91
GS Sharpe Ratio Rank: 94
GS Sortino Ratio Rank: 91
GS Omega Ratio Rank: 91
GS Calmar Ratio Rank: 88
GS Martin Ratio Rank: 92

QBTS

QBTS Risk / Return Rank: 60
QBTS Sharpe Ratio Rank: 58
QBTS Sortino Ratio Rank: 67
QBTS Omega Ratio Rank: 62
QBTS Calmar Ratio Rank: 58
QBTS Martin Ratio Rank: 55

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.

GS vs. QBTS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Goldman Sachs Group, Inc. (GS) and D-Wave Quantum Inc (QBTS). 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.

	GS	QBTS	Difference
Sharpe ratio: Return per unit of total volatility	2.59	0.44	+2.15
Sortino ratio: Return per unit of downside risk	3.19	1.48	+1.71
Omega ratio: Gain probability vs. loss probability	1.41	1.16	+0.25
Calmar ratio: Return relative to maximum drawdown	3.80	0.67	+3.13
Martin ratio: Return relative to average drawdown	12.61	1.16	+11.45

GS vs. QBTS - Sharpe Ratio Comparison

The current GS Sharpe Ratio is 2.59, which is higher than the QBTS Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of GS and QBTS, 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

GS vs. QBTS - Drawdown Comparison

The maximum GS drawdown since its inception was -78.84%, smaller than the maximum QBTS drawdown of -96.67%. Use the drawdown chart below to compare losses from any high point for GS and QBTS.

Drawdown Indicators

	GS	QBTS	Difference
Max Drawdown Largest peak-to-trough decline	-78.84%	-96.67%	+17.83%
Max Drawdown (1Y) Largest decline over 1 year	-19.42%	-71.01%	+51.59%
Max Drawdown (3Y) Largest decline over 3 years	-30.90%	-79.17%	+48.27%
Max Drawdown (5Y) Largest decline over 5 years	-32.84%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-48.75%	—	—
Current Drawdown Current decline from peak	-2.73%	-47.81%	+45.08%
Average Drawdown Average peak-to-trough decline	-22.65%	-65.66%	+43.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.84%	40.64%	-34.80%

Volatility

GS vs. QBTS - Volatility Comparison

The current volatility for The Goldman Sachs Group, Inc. (GS) is 11.84%, while D-Wave Quantum Inc (QBTS) has a volatility of 42.66%. This indicates that GS experiences smaller price fluctuations and is considered to be less risky than QBTS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GS	QBTS	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.84%	42.66%	-30.82%
Volatility (6M) Calculated over the trailing 6-month period	23.47%	76.89%	-53.42%
Volatility (1Y) Calculated over the trailing 1-year period	28.55%	108.46%	-79.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.10%	150.99%	-122.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.87%	150.99%	-121.12%

Dividends

GS vs. QBTS - Dividend Comparison

GS's dividend yield for the trailing twelve months is around 1.60%, while QBTS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GS The Goldman Sachs Group, Inc.	1.60%	1.59%	2.01%	2.72%	2.62%	1.70%	1.90%	1.80%	1.89%	1.14%	1.09%	1.41%
QBTS D-Wave Quantum 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%

Financials

Frequently Asked Questions

Can I hold both GS and QBTS in my portfolio?

GS and QBTS 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, GS or QBTS?

QBTS has higher volatility (42.66%) compared to GS (11.84%). In terms of maximum drawdown, GS dropped -78.84% vs QBTS's -96.67%.

Which has better risk-adjusted returns?

GS currently has the higher Sharpe Ratio (2.59 vs 0.44), 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.