HOVR vs. IONQ

Last updated Aug 1, 2026

HOVR (New Horizon Aircraft Ltd) and IONQ (IonQ, Inc.) are both stocks. HOVR operates in Aerospace & Defense (Industrials), while IONQ operates in Computer Hardware (Technology). Over the past year, HOVR returned 21.99% vs -4.41% for IONQ. Their 0.29 correlation means their historical movements had little consistent relationship.

Performance

HOVR vs. IONQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in New Horizon Aircraft Ltd (HOVR) and IonQ, Inc. (IONQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HOVR achieves a 17.01% return, which is significantly higher than IONQ's -18.79% return.

HOVR

• 1D: -1.15%
• 1M: -11.34%
• 6M: -7.53%
• YTD: 17.01%
• 1Y: 21.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -26.83%

IONQ

• 1D: 1.87%
• 1M: -25.81%
• 6M: -8.85%
• YTD: -18.79%
• 1Y: -4.41%
• 3Y*: 22.42%
• 5Y*: 29.72%
• 10Y*: —
• ALL TIME*: 23.75%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HOVR New Horizon Aircraft Ltd	$2.48M	$2.30M	$5.51M
IONQ IonQ, Inc.	$680.39M	$717.71M	$1.44B

HOVR vs. IONQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HOVR New Horizon Aircraft Ltd	17.01%	30.09%	-70.26%
IONQ IonQ, Inc.	-18.79%	7.42%	266.40%

Correlation

The correlation between HOVR and IONQ is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.51
Correlation (All Time) Calculated using the full available price history since Jan 16, 2024	0.29

Over the past year, HOVR and IONQ have become more correlated (0.51) than their long-term average of 0.29, meaning their price movements have been converging.

Fundamentals

Market Cap HOVR : $77.79M IONQ : $13.60B
EPS HOVR : -$0.79 IONQ : $0.80
PB Ratio HOVR : 1.14 IONQ : 2.72
Total Revenue (TTM) HOVR : $0.00 IONQ : $187.12M
Gross Profit (TTM) HOVR : $0.00 IONQ : $71.25M
EBITDA (TTM) HOVR : -$23.47M IONQ : $405.86M

Return for Risk

HOVR vs. IONQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HOVR

HOVR Risk / Return Rank: 53
HOVR Sharpe Ratio Rank: 49
HOVR Sortino Ratio Rank: 62
HOVR Omega Ratio Rank: 58
HOVR Calmar Ratio Rank: 50
HOVR Martin Ratio Rank: 48

IONQ

IONQ Risk / Return Rank: 43
IONQ Sharpe Ratio Rank: 41
IONQ Sortino Ratio Rank: 48
IONQ Omega Ratio Rank: 46
IONQ Calmar Ratio Rank: 40
IONQ Martin Ratio Rank: 40

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HOVR vs. IONQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for New Horizon Aircraft Ltd (HOVR) and IonQ, Inc. (IONQ). 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.

	HOVR	IONQ	Difference
Sharpe ratio: Return per unit of total volatility	0.12	-0.09	+0.21
Sortino ratio: Return per unit of downside risk	1.11	0.58	+0.53
Omega ratio: Gain probability vs. loss probability	1.13	1.06	+0.06
Calmar ratio: Return relative to maximum drawdown	0.20	-0.13	+0.33
Martin ratio: Return relative to average drawdown	0.31	-0.21	+0.52

HOVR vs. IONQ - Sharpe Ratio Comparison

The current HOVR Sharpe Ratio is 0.12, which is higher than the IONQ Sharpe Ratio of -0.09. The chart below compares the historical Sharpe Ratios of HOVR and IONQ, 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

HOVR vs. IONQ - Drawdown Comparison

The maximum HOVR drawdown since its inception was -93.16%, roughly equal to the maximum IONQ drawdown of -90.00%. Use the drawdown chart below to compare losses from any high point for HOVR and IONQ.

Drawdown Indicators

	HOVR	IONQ	Difference
Max Drawdown Largest peak-to-trough decline	-93.16%	-90.00%	-3.16%
Max Drawdown (1Y) Largest decline over 1 year	-69.31%	-67.61%	-1.70%
Max Drawdown (3Y) Largest decline over 3 years	—	-67.61%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-90.00%	—
Current Drawdown Current decline from peak	-56.01%	-55.61%	-0.40%
Average Drawdown Average peak-to-trough decline	-62.90%	-50.76%	-12.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.99%	40.77%	+4.22%

Volatility

HOVR vs. IONQ - Volatility Comparison

New Horizon Aircraft Ltd (HOVR) has a higher volatility of 31.60% compared to IonQ, Inc. (IONQ) at 23.28%. This indicates that HOVR's price experiences larger fluctuations and is considered to be riskier than IONQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HOVR	IONQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.60%	23.28%	+8.32%
Volatility (6M) Calculated over the trailing 6-month period	77.59%	69.41%	+8.18%
Volatility (1Y) Calculated over the trailing 1-year period	118.08%	94.92%	+23.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	154.49%	101.41%	+53.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	154.49%	97.23%	+57.26%

Dividends

HOVR vs. IONQ - Dividend Comparison

Neither HOVR nor IONQ has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both HOVR and IONQ in my portfolio?

HOVR and IONQ have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HOVR or IONQ?

HOVR has higher volatility (31.60%) compared to IONQ (23.28%). In terms of maximum drawdown, HOVR dropped -93.16% vs IONQ's -90.00%.

Which has better risk-adjusted returns?

HOVR currently has the higher Sharpe Ratio (0.12 vs -0.09), 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.