QTWO vs. LLY

Last updated Jun 3, 2026

QTWO (Q2 Holdings, Inc.) and LLY (Eli Lilly and Company) are both stocks. QTWO operates in Software - Application (Technology), while LLY operates in Drug Manufacturers - General (Healthcare). Over the past 10 years, QTWO returned 5.85%/yr vs 32.48%/yr for LLY. At a 0.17 correlation, their price movements are largely independent.

Performance

QTWO vs. LLY - Performance Comparison

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

Returns By Period

In the year-to-date period, QTWO achieves a -32.26% return, which is significantly lower than LLY's -0.64% return. Over the past 10 years, QTWO has underperformed LLY with an annualized return of 5.85%, while LLY has yielded a comparatively higher 32.48% annualized return.

QTWO

• 1D: -7.02%
• 1M: -4.59%
• YTD: -32.26%
• 6M: -31.16%
• 1Y: -44.23%
• 3Y*: 19.90%
• 5Y*: -12.46%
• 10Y*: 5.85%

LLY

• 1D: -1.67%
• 1M: 10.66%
• YTD: -0.64%
• 6M: 2.07%
• 1Y: 43.44%
• 3Y*: 34.95%
• 5Y*: 40.65%
• 10Y*: 32.48%

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

QTWO vs. LLY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QTWO Q2 Holdings, Inc.	-32.26%	-28.31%	131.86%	61.56%	-66.18%	-37.22%	56.06%	63.63%	34.46%	27.73%
LLY Eli Lilly and Company	-0.64%	40.25%	33.30%	60.91%	34.26%	66.08%	31.04%	16.14%	40.45%	17.83%

Correlation

The correlation between QTWO and LLY is 0.03, 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	0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (10Y) Calculated over the trailing 10-year period	0.17
Correlation (All Time) Calculated using the full available price history since Mar 21, 2014	0.17

The correlation between QTWO and LLY shifts across timeframes, from 0.03 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap QTWO : $3.31B LLY : $953.37B
EPS QTWO : $1.07 LLY : $28.14
PE Ratio QTWO : 45.57 LLY : 37.81
PS Ratio QTWO : 4.10 LLY : 13.23
PB Ratio QTWO : 5.41 LLY : 30.56
Total Revenue (TTM) QTWO : $821.58M LLY : $72.25B
Gross Profit (TTM) QTWO : $456.61M LLY : $59.75B
EBITDA (TTM) QTWO : $105.55M LLY : $32.97B

Return for Risk

QTWO vs. LLY — Risk / Return Rank

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

QTWO

QTWO Risk / Return Rank: 7
QTWO Sharpe Ratio Rank: 4
QTWO Sortino Ratio Rank: 5
QTWO Omega Ratio Rank: 6
QTWO Calmar Ratio Rank: 9
QTWO Martin Ratio Rank: 9

LLY

LLY Risk / Return Rank: 72
LLY Sharpe Ratio Rank: 75
LLY Sortino Ratio Rank: 69
LLY Omega Ratio Rank: 70
LLY Calmar Ratio Rank: 73
LLY Martin Ratio Rank: 74

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. LLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Q2 Holdings, Inc. (QTWO) and Eli Lilly and Company (LLY). 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	LLY	Difference
Sharpe ratio Return per unit of total volatility	-1.02	1.15	-2.17
Sortino ratio Return per unit of downside risk	-1.54	1.71	-3.25
Omega ratio Gain probability vs. loss probability	0.82	1.23	-0.41
Calmar ratio Return relative to maximum drawdown	-0.83	1.92	-2.75
Martin ratio Return relative to average drawdown	-1.33	4.78	-6.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QTWO vs. LLY - Sharpe Ratio Comparison

The current QTWO Sharpe Ratio is -1.02, which is lower than the LLY Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of QTWO and LLY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QTWO	LLY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.02	1.15	-2.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.25	1.25	-1.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.13	1.08	-0.95
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.57	-0.35

Drawdowns

QTWO vs. LLY - Drawdown Comparison

The maximum QTWO drawdown since its inception was -85.77%, which is greater than LLY's maximum drawdown of -68.24%. Use the drawdown chart below to compare losses from any high point for QTWO and LLY.

Drawdown Indicators

	QTWO	LLY	Difference
Max Drawdown Largest peak-to-trough decline	-85.77%	-68.24%	-17.53%
Max Drawdown (1Y) Largest decline over 1 year	-53.08%	-23.64%	-29.44%
Max Drawdown (3Y) Largest decline over 3 years	-59.68%	-34.48%	-25.20%
Max Drawdown (5Y) Largest decline over 5 years	-80.69%	-34.48%	-46.21%
Max Drawdown (10Y) Largest decline over 10 years	-85.77%	-34.48%	-51.29%
Current Drawdown Current decline from peak	-66.68%	-5.56%	-61.12%
Average Drawdown Average peak-to-trough decline	-30.14%	-19.22%	-10.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.18%	9.48%	+23.70%

Volatility

QTWO vs. LLY - Volatility Comparison

Q2 Holdings, Inc. (QTWO) has a higher volatility of 18.71% compared to Eli Lilly and Company (LLY) at 9.11%. This indicates that QTWO's price experiences larger fluctuations and is considered to be riskier than LLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QTWO	LLY	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.71%	9.11%	+9.60%
Volatility (6M) Calculated over the trailing 6-month period	32.30%	26.83%	+5.47%
Volatility (1Y) Calculated over the trailing 1-year period	43.59%	37.88%	+5.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.00%	32.79%	+17.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.23%	30.15%	+14.08%

Dividends

QTWO vs. LLY - Dividend Comparison

QTWO has not paid dividends to shareholders, while LLY's dividend yield for the trailing twelve months is around 0.61%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LLY Eli Lilly and Company	0.61%	0.56%	0.67%	0.78%	1.07%	1.23%	1.75%	1.96%	1.94%	2.46%	2.77%	2.37%
QTWO Q2 Holdings, 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

QTWO vs. LLY - Profitability Comparison

The chart below illustrates the profitability comparison between Q2 Holdings, Inc. and Eli Lilly and Company 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%.

LLY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Eli Lilly and Company reported a gross profit of 15.64B and revenue of 19.80B. Therefore, the gross margin over that period was 79.0%.

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%.

LLY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Eli Lilly and Company reported an operating income of 9.19B and revenue of 19.80B, resulting in an operating margin of 46.4%.

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%.

LLY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Eli Lilly and Company reported a net income of 7.40B and revenue of 19.80B, resulting in a net margin of 37.4%.

Frequently Asked Questions

Can I hold both QTWO and LLY in my portfolio?

QTWO and LLY have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QTWO or LLY?

QTWO has higher volatility (18.71%) compared to LLY (9.11%). In terms of maximum drawdown, QTWO dropped -85.77% vs LLY's -68.24%.

Which has better risk-adjusted returns?

LLY currently has the higher Sharpe Ratio (1.15 vs -1.02), 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.