IONQ vs. CNQ.TO

Last updated Jun 13, 2026

IONQ (IonQ, Inc.) and CNQ.TO (Canadian Natural Resources Limited) are both stocks. IONQ operates in Computer Hardware (Technology), while CNQ.TO operates in Oil & Gas E&P (Energy). Over the past 5 years, IONQ returned 40.49%/yr vs 30.05%/yr for CNQ.TO. At a 0.14 correlation, their price movements are largely independent.

Performance

IONQ vs. CNQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IonQ, Inc. (IONQ) and Canadian Natural Resources Limited (CNQ.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IONQ is traded in USD, while CNQ.TO is traded in CAD. To make them comparable, the CNQ.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IONQ achieves a 28.93% return, which is significantly lower than CNQ.TO's 34.88% return.

IONQ

• 1D: -0.24%
• 1M: 0.66%
• YTD: 28.93%
• 6M: 14.90%
• 1Y: 52.88%
• 3Y*: 75.90%
• 5Y*: 40.49%
• 10Y*: —

CNQ.TO

• 1D: -0.37%
• 1M: -4.77%
• YTD: 34.88%
• 6M: 38.81%
• 1Y: 39.22%
• 3Y*: 25.15%
• 5Y*: 30.05%
• 10Y*: 22.38%

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

IONQ vs. CNQ.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IONQ IonQ, Inc.	28.93%	7.42%	237.13%	259.13%	-79.34%	50.11%
CNQ.TO Canadian Natural Resources Limited	34.88%	15.70%	-0.18%	30.08%	53.38%	91.35%

Correlation

The correlation between IONQ and CNQ.TO is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (All Time) Calculated using the full available price history since Jan 4, 2021	0.14

Fundamentals

Market Cap IONQ : $21.48B CNQ.TO : CA$132.89B
EPS IONQ : $0.86 CNQ.TO : CA$4.65
PE Ratio IONQ : 67.11 CNQ.TO : 13.64
PS Ratio IONQ : 99.37 CNQ.TO : 3.34
PB Ratio IONQ : 4.32 CNQ.TO : 2.98
Total Revenue (TTM) IONQ : $187.12M CNQ.TO : CA$39.61B
Gross Profit (TTM) IONQ : $71.25M CNQ.TO : CA$12.42B
EBITDA (TTM) IONQ : $405.86M CNQ.TO : CA$17.78B

Return for Risk

IONQ vs. CNQ.TO — Risk / Return Rank

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

IONQ

IONQ Risk / Return Rank: 61
IONQ Sharpe Ratio Rank: 61
IONQ Sortino Ratio Rank: 66
IONQ Omega Ratio Rank: 62
IONQ Calmar Ratio Rank: 59
IONQ Martin Ratio Rank: 57

CNQ.TO

CNQ.TO Risk / Return Rank: 83
CNQ.TO Sharpe Ratio Rank: 85
CNQ.TO Sortino Ratio Rank: 79
CNQ.TO Omega Ratio Rank: 79
CNQ.TO Calmar Ratio Rank: 85
CNQ.TO Martin Ratio Rank: 85

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.

IONQ vs. CNQ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IonQ, Inc. (IONQ) and Canadian Natural Resources Limited (CNQ.TO). 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.

	IONQ	CNQ.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.53	1.51	-0.98
Sortino ratio: Return per unit of downside risk	1.43	1.98	-0.55
Omega ratio: Gain probability vs. loss probability	1.16	1.26	-0.10
Calmar ratio: Return relative to maximum drawdown	0.73	3.09	-2.36
Martin ratio: Return relative to average drawdown	1.33	6.86	-5.52

IONQ vs. CNQ.TO - Sharpe Ratio Comparison

The current IONQ Sharpe Ratio is 0.53, which is lower than the CNQ.TO Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of IONQ and CNQ.TO, 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

IONQ vs. CNQ.TO - Drawdown Comparison

The maximum IONQ drawdown since its inception was -90.00%, which is greater than CNQ.TO's maximum drawdown of -76.64%. Use the drawdown chart below to compare losses from any high point for IONQ and CNQ.TO.

Drawdown Indicators

	IONQ	CNQ.TO	Difference
Max Drawdown Largest peak-to-trough decline	-90.00%	-76.64%	-13.36%
Max Drawdown (1Y) Largest decline over 1 year	-67.61%	-14.43%	-53.18%
Max Drawdown (3Y) Largest decline over 3 years	-67.61%	-36.25%	-31.36%
Max Drawdown (5Y) Largest decline over 5 years	-90.00%	-36.25%	-53.75%
Max Drawdown (10Y) Largest decline over 10 years	—	-76.64%	—
Current Drawdown Current decline from peak	-29.53%	-9.55%	-19.98%
Average Drawdown Average peak-to-trough decline	-50.88%	-21.20%	-29.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.20%	6.49%	+30.71%

Volatility

IONQ vs. CNQ.TO - Volatility Comparison

IonQ, Inc. (IONQ) has a higher volatility of 31.60% compared to Canadian Natural Resources Limited (CNQ.TO) at 8.84%. This indicates that IONQ's price experiences larger fluctuations and is considered to be riskier than CNQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IONQ	CNQ.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.60%	8.84%	+22.76%
Volatility (6M) Calculated over the trailing 6-month period	68.80%	24.25%	+44.55%
Volatility (1Y) Calculated over the trailing 1-year period	93.28%	29.57%	+63.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	100.48%	31.39%	+69.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.53%	38.81%	+58.72%

Dividends

IONQ vs. CNQ.TO - Dividend Comparison

IONQ has not paid dividends to shareholders, while CNQ.TO's dividend yield for the trailing twelve months is around 3.77%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNQ.TO Canadian Natural Resources Limited	2.84%	5.05%	6.00%	8.53%	12.23%	7.63%	11.35%	7.29%	8.31%	5.00%	4.49%	6.22%
IONQ IonQ, 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 IONQ and CNQ.TO in my portfolio?

IONQ and CNQ.TO have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.