QTWO vs. AVDX

Last updated Jun 9, 2026

QTWO (Q2 Holdings, Inc.) and AVDX (AvidXchange Holdings, Inc.) are both stocks. Both are in the Technology sector — QTWO in Software - Application, AVDX in Software - Infrastructure. At a 0.50 correlation, their price movements are largely independent.

Performance

QTWO vs. AVDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Q2 Holdings, Inc. (QTWO) and AvidXchange Holdings, Inc. (AVDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QTWO

• 1D: -1.95%
• 1M: -10.59%
• YTD: -37.89%
• 6M: -39.02%
• 1Y: -50.89%
• 3Y*: 17.10%
• 5Y*: -13.94%
• 10Y*: 5.15%

AVDX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QTWO vs. AVDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QTWO Q2 Holdings, Inc.	-37.89%	-28.31%	131.86%	61.56%	-66.18%	2.98%
AVDX AvidXchange Holdings, Inc.	0.00%	-3.29%	-16.55%	24.65%	-34.00%	-39.62%

Correlation

The correlation between QTWO and AVDX is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (All Time) Calculated using the full available price history since Oct 14, 2021	0.50

Over the past year, the correlation between QTWO and AVDX has dropped to 0.20 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.

Fundamentals

Market Cap QTWO : $3.03B AVDX : $2.07B
EPS QTWO : $1.07 AVDX : -$0.04
PS Ratio QTWO : 3.76 AVDX : 4.63
PB Ratio QTWO : 4.96 AVDX : 3.01
Total Revenue (TTM) QTWO : $821.58M AVDX : $446.72M
Gross Profit (TTM) QTWO : $456.61M AVDX : $323.96M
EBITDA (TTM) QTWO : $105.55M AVDX : $36.84M

Return for Risk

QTWO vs. AVDX — Risk / Return Rank

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

QTWO

QTWO Risk / Return Rank: 4
QTWO Sharpe Ratio Rank: 3
QTWO Sortino Ratio Rank: 3
QTWO Omega Ratio Rank: 4
QTWO Calmar Ratio Rank: 3
QTWO Martin Ratio Rank: 6

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.

QTWO vs. AVDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Q2 Holdings, Inc. (QTWO) and AvidXchange Holdings, Inc. (AVDX). 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.

	QTWO	AVDX	Difference
Sharpe ratio: Return per unit of total volatility	-1.16	—	—
Sortino ratio: Return per unit of downside risk	-1.88	—	—
Omega ratio: Gain probability vs. loss probability	0.78	—	—
Calmar ratio: Return relative to maximum drawdown	-0.96	—	—
Martin ratio: Return relative to average drawdown	-1.51	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	QTWO	AVDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.16	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.28	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.12	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	—	—

Drawdowns

Drawdown Indicators

	QTWO	AVDX	Difference
Max Drawdown Largest peak-to-trough decline	-85.77%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-53.08%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-59.68%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-80.69%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-85.77%	—	—
Current Drawdown Current decline from peak	-69.45%	—	—
Average Drawdown Average peak-to-trough decline	-30.20%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	33.84%	—	—

Volatility

Volatility by Period

	QTWO	AVDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.44%	—	—
Volatility (6M) Calculated over the trailing 6-month period	32.97%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	44.22%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.12%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.29%	—	—

Dividends

QTWO vs. AVDX - Dividend Comparison

Neither QTWO nor AVDX has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

QTWO vs. AVDX - Profitability Comparison

The chart below illustrates the profitability comparison between Q2 Holdings, Inc. and AvidXchange Holdings, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

QTWO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Q2 Holdings, Inc. reported a gross profit of 127.91M and revenue of 216.51M. Therefore, the gross margin over that period was 59.1%.

AVDX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, AvidXchange Holdings, Inc. reported a gross profit of 79.62M and revenue of 110.57M. Therefore, the gross margin over that period was 72.0%.

QTWO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Q2 Holdings, Inc. reported an operating income of 27.69M and revenue of 216.51M, resulting in an operating margin of 12.8%.

AVDX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, AvidXchange Holdings, Inc. reported an operating income of -12.41M and revenue of 110.57M, resulting in an operating margin of -11.2%.

QTWO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Q2 Holdings, Inc. reported a net income of 26.64M and revenue of 216.51M, resulting in a net margin of 12.3%.

AVDX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, AvidXchange Holdings, Inc. reported a net income of -9.46M and revenue of 110.57M, resulting in a net margin of -8.6%.

Frequently Asked Questions

Can I hold both QTWO and AVDX in my portfolio?

QTWO and AVDX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.