IONQ vs. RCAT

Last updated Jun 13, 2026

IONQ (IonQ, Inc.) and RCAT (Red Cat Holdings, Inc.) are both stocks. Both are in the Technology sector — IONQ in Computer Hardware, RCAT in Software - Application. Over the past 5 years, IONQ returned 40.49%/yr vs 26.88%/yr for RCAT. At a 0.30 correlation, their price movements are largely independent.

Performance

IONQ vs. RCAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IonQ, Inc. (IONQ) and Red Cat Holdings, Inc. (RCAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IONQ achieves a 28.93% return, which is significantly lower than RCAT's 40.98% return.

IONQ

• 1D: -0.24%
• 1M: 4.69%
• YTD: 28.93%
• 6M: 14.90%
• 1Y: 49.44%
• 3Y*: 75.90%
• 5Y*: 40.49%
• 10Y*: —

RCAT

• 1D: -6.91%
• 1M: 18.94%
• YTD: 40.98%
• 6M: 39.05%
• 1Y: 27.77%
• 3Y*: 131.59%
• 5Y*: 26.88%
• 10Y*: —

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

IONQ vs. RCAT - 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%
RCAT Red Cat Holdings, Inc.	40.98%	-38.29%	1,360.23%	-6.38%	-54.81%	-30.67%

Correlation

The correlation between IONQ and RCAT is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jan 4, 2021	0.30

Over the past year, IONQ and RCAT have become more correlated (0.56) than their long-term average of 0.30, meaning their price movements have been converging.

Fundamentals

Market Cap IONQ : $21.48B RCAT : $1.35B
EPS IONQ : $0.86 RCAT : -$0.78
PS Ratio IONQ : 99.37 RCAT : 23.24
PB Ratio IONQ : 4.32 RCAT : 5.66
Total Revenue (TTM) IONQ : $187.12M RCAT : $52.98M
Gross Profit (TTM) IONQ : $71.25M RCAT : $2.86M
EBITDA (TTM) IONQ : $405.86M RCAT : -$79.24M

Return for Risk

IONQ vs. RCAT — 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

RCAT

RCAT Risk / Return Rank: 56
RCAT Sharpe Ratio Rank: 51
RCAT Sortino Ratio Rank: 63
RCAT Omega Ratio Rank: 58
RCAT Calmar Ratio Rank: 54
RCAT Martin Ratio Rank: 53

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. RCAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IonQ, Inc. (IONQ) and Red Cat Holdings, Inc. (RCAT). 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	RCAT	Difference
Sharpe ratio: Return per unit of total volatility	0.53	0.23	+0.30
Sortino ratio: Return per unit of downside risk	1.43	1.28	+0.16
Omega ratio: Gain probability vs. loss probability	1.16	1.14	+0.02
Calmar ratio: Return relative to maximum drawdown	0.73	0.46	+0.27
Martin ratio: Return relative to average drawdown	1.33	0.92	+0.41

IONQ vs. RCAT - Sharpe Ratio Comparison

The current IONQ Sharpe Ratio is 0.53, which is higher than the RCAT Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of IONQ and RCAT, 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. RCAT - Drawdown Comparison

The maximum IONQ drawdown since its inception was -90.00%, smaller than the maximum RCAT drawdown of -99.21%. Use the drawdown chart below to compare losses from any high point for IONQ and RCAT.

Drawdown Indicators

	IONQ	RCAT	Difference
Max Drawdown Largest peak-to-trough decline	-90.00%	-99.21%	+9.21%
Max Drawdown (1Y) Largest decline over 1 year	-67.61%	-60.08%	-7.53%
Max Drawdown (3Y) Largest decline over 3 years	-67.61%	-67.16%	-0.45%
Max Drawdown (5Y) Largest decline over 5 years	-90.00%	-92.25%	+2.25%
Current Drawdown Current decline from peak	-29.53%	-35.60%	+6.07%
Average Drawdown Average peak-to-trough decline	-50.88%	-65.98%	+15.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.20%	30.17%	+7.03%

Volatility

IONQ vs. RCAT - Volatility Comparison

The current volatility for IonQ, Inc. (IONQ) is 31.60%, while Red Cat Holdings, Inc. (RCAT) has a volatility of 40.71%. This indicates that IONQ experiences smaller price fluctuations and is considered to be less risky than RCAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IONQ	RCAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.60%	40.71%	-9.11%
Volatility (6M) Calculated over the trailing 6-month period	68.80%	85.22%	-16.42%
Volatility (1Y) Calculated over the trailing 1-year period	93.28%	120.36%	-27.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	100.48%	115.04%	-14.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.53%	29,209.75%	-29,112.22%

Dividends

IONQ vs. RCAT - Dividend Comparison

Neither IONQ nor RCAT has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both IONQ and RCAT in my portfolio?

IONQ and RCAT have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IONQ or RCAT?

RCAT has higher volatility (40.71%) compared to IONQ (31.60%). In terms of maximum drawdown, IONQ dropped -90.00% vs RCAT's -99.21%.

Which has better risk-adjusted returns?

IONQ currently has the higher Sharpe Ratio (0.53 vs 0.23), 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.