SOUN vs. QBTS

Last updated Aug 1, 2026

SOUN (SoundHound AI, Inc.) and QBTS (D-Wave Quantum Inc) are both stocks. Both are in the Technology sector — SOUN in Software - Application, QBTS in Computer Hardware. Over the past 3 years, SOUN returned 36.88%/yr vs 88.49%/yr for QBTS. Their 0.39 correlation means their historical movements had little consistent relationship.

Performance

SOUN vs. QBTS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SoundHound AI, Inc. (SOUN) and D-Wave Quantum Inc (QBTS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOUN achieves a -38.52% return, which is significantly lower than QBTS's -30.86% return.

SOUN

• 1D: -0.16%
• 1M: -6.41%
• 6M: -27.54%
• YTD: -38.52%
• 1Y: -39.37%
• 3Y*: 36.88%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -7.94%

QBTS

• 1D: 0.56%
• 1M: -19.75%
• 6M: -14.80%
• YTD: -30.86%
• 1Y: 10.38%
• 3Y*: 88.49%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.23%

*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)
QBTS D-Wave Quantum Inc	$359.00M	$350.88M	$734.73M
SOUN SoundHound AI, Inc.	$243.59M	$220.65M	$222.18M

SOUN vs. QBTS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SOUN SoundHound AI, Inc.	-38.52%	-49.75%	835.85%	19.77%	-53.05%
QBTS D-Wave Quantum Inc	-30.86%	211.31%	854.44%	-38.88%	-83.96%

Correlation

The correlation between SOUN and QBTS is 0.59, 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.	0.59
Correlation (3Y) Balances recent behavior with more history.	0.49
Correlation (All Time) Calculated using the full available price history since Aug 8, 2022	0.39

The correlation between SOUN and QBTS shifts across timeframes, from 0.39 (all time) to 0.59 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap SOUN : $2.67B QBTS : $6.64B
EPS SOUN : -$0.43 QBTS : -$1.04
PS Ratio SOUN : 12.97 QBTS : 514.63
PB Ratio SOUN : 4.50 QBTS : 5.91
Total Revenue (TTM) SOUN : $183.99M QBTS : $12.44M
Gross Profit (TTM) SOUN : $69.84M QBTS : $8.25M
EBITDA (TTM) SOUN : -$124.47M QBTS : -$399.03M

Return for Risk

SOUN vs. QBTS — Risk / Return Rank

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

SOUN

SOUN Risk / Return Rank: 24
SOUN Sharpe Ratio Rank: 21
SOUN Sortino Ratio Rank: 23
SOUN Omega Ratio Rank: 25
SOUN Calmar Ratio Rank: 24
SOUN Martin Ratio Rank: 28

QBTS

QBTS Risk / Return Rank: 50
QBTS Sharpe Ratio Rank: 46
QBTS Sortino Ratio Rank: 58
QBTS Omega Ratio Rank: 53
QBTS Calmar Ratio Rank: 47
QBTS Martin Ratio Rank: 46

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.

SOUN vs. QBTS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SoundHound AI, Inc. (SOUN) and D-Wave Quantum Inc (QBTS). 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.

	SOUN	QBTS	Difference
Sharpe ratio: Return per unit of total volatility	-0.52	0.05	-0.56
Sortino ratio: Return per unit of downside risk	-0.45	0.96	-1.41
Omega ratio: Gain probability vs. loss probability	0.95	1.10	-0.15
Calmar ratio: Return relative to maximum drawdown	-0.56	0.07	-0.63
Martin ratio: Return relative to average drawdown	-0.79	0.12	-0.90

SOUN vs. QBTS - Sharpe Ratio Comparison

The current SOUN Sharpe Ratio is -0.52, which is lower than the QBTS Sharpe Ratio of 0.05. The chart below compares the historical Sharpe Ratios of SOUN and QBTS, 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

SOUN vs. QBTS - Drawdown Comparison

The maximum SOUN drawdown since its inception was -93.55%, roughly equal to the maximum QBTS drawdown of -96.67%. Use the drawdown chart below to compare losses from any high point for SOUN and QBTS.

Drawdown Indicators

	SOUN	QBTS	Difference
Max Drawdown Largest peak-to-trough decline	-93.55%	-96.67%	+3.12%
Max Drawdown (1Y) Largest decline over 1 year	-73.36%	-71.01%	-2.35%
Max Drawdown (3Y) Largest decline over 3 years	-76.48%	-71.01%	-5.47%
Current Drawdown Current decline from peak	-74.70%	-59.62%	-15.08%
Average Drawdown Average peak-to-trough decline	-67.12%	-65.27%	-1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	51.67%	44.79%	+6.88%

Volatility

SOUN vs. QBTS - Volatility Comparison

The current volatility for SoundHound AI, Inc. (SOUN) is 17.54%, while D-Wave Quantum Inc (QBTS) has a volatility of 30.87%. This indicates that SOUN experiences smaller price fluctuations and is considered to be less risky than QBTS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOUN	QBTS	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.54%	30.87%	-13.33%
Volatility (6M) Calculated over the trailing 6-month period	52.63%	77.01%	-24.38%
Volatility (1Y) Calculated over the trailing 1-year period	78.77%	110.95%	-32.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	134.53%	149.71%	-15.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	134.53%	149.71%	-15.18%

Dividends

SOUN vs. QBTS - Dividend Comparison

Neither SOUN nor QBTS has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both SOUN and QBTS in my portfolio?

SOUN and QBTS have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOUN or QBTS?

QBTS has higher volatility (30.87%) compared to SOUN (17.54%). In terms of maximum drawdown, SOUN dropped -93.55% vs QBTS's -96.67%.

Which has better risk-adjusted returns?

QBTS currently has the higher Sharpe Ratio (0.05 vs -0.52), 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.