WAVES-USD vs. IONQ
WAVES-USD (Waves) is a cryptocurrency, while IONQ (IonQ, Inc.) is a stock. Over the past 5 years, WAVES-USD returned -57.40%/yr vs 31.29%/yr for IONQ. Their 0.18 correlation means their historical movements had little consistent relationship.
Performance
WAVES-USD vs. IONQ - Performance Comparison
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Returns By Period
In the year-to-date period, WAVES-USD achieves a -67.13% return, which is significantly lower than IONQ's -13.42% return.
WAVES-USD
- 1D
- 4.75%
- 1M
- -16.66%
- 6M
- -61.07%
- YTD
- -67.13%
- 1Y
- -78.23%
- 3Y*
- -50.68%
- 5Y*
- -57.40%
- 10Y*
- —
- ALL TIME*
- -29.06%
IONQ
- 1D
- 6.61%
- 1M
- -20.91%
- 6M
- 0.75%
- YTD
- -13.42%
- 1Y
- 1.92%
- 3Y*
- 30.73%
- 5Y*
- 31.29%
- 10Y*
- —
- ALL TIME*
- 25.14%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
IONQ IonQ, Inc. | $713.90M | $720.75M | $1.43B |
WAVES-USD Waves | $766.10K | $954.24K | $2.88M |
WAVES-USD vs. IONQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
WAVES-USD Waves | -67.13% | -54.78% | -43.34% | 104.25% | -90.98% | 163.24% |
IONQ IonQ, Inc. | -13.42% | 7.42% | 237.13% | 259.13% | -79.34% | 50.11% |
Correlation
The correlation between WAVES-USD and IONQ is 0.17, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.17 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2021 | 0.18 |
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Return for Risk
WAVES-USD vs. IONQ — Risk / Return Rank
WAVES-USD
IONQ
WAVES-USD vs. IONQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Waves (WAVES-USD) and IonQ, Inc. (IONQ). 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.
| WAVES-USD | IONQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.04 | ||
| Sortino ratioReturn per unit of downside risk | -2.98 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.08 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 0.03 | -0.94 |
| Martin ratioReturn relative to average drawdown | -1.29 | 0.05 | -1.34 |
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Drawdowns
WAVES-USD vs. IONQ - Drawdown Comparison
The maximum WAVES-USD drawdown since its inception was -99.60%, which is greater than IONQ's maximum drawdown of -90.00%. Use the drawdown chart below to compare losses from any high point for WAVES-USD and IONQ.
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Drawdown Indicators
| WAVES-USD | IONQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.60% | -90.00% | -9.60% |
Max Drawdown (1Y)Largest decline over 1 year | -85.01% | -67.61% | -17.40% |
Max Drawdown (3Y)Largest decline over 3 years | -95.29% | -67.61% | -27.68% |
Max Drawdown (5Y)Largest decline over 5 years | -99.60% | -90.00% | -9.60% |
Current DrawdownCurrent decline from peak | -99.58% | -52.67% | -46.91% |
Average DrawdownAverage peak-to-trough decline | -81.98% | -50.76% | -31.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.12% | 40.90% | +8.22% |
Volatility
WAVES-USD vs. IONQ - Volatility Comparison
The current volatility for Waves (WAVES-USD) is 12.99%, while IonQ, Inc. (IONQ) has a volatility of 24.39%. This indicates that WAVES-USD experiences smaller price fluctuations and is considered to be less risky than IONQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WAVES-USD | IONQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.99% | 24.39% | -11.40% |
Volatility (6M)Calculated over the trailing 6-month period | 47.53% | 69.27% | -21.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.12% | 95.22% | -32.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 91.78% | 101.49% | -9.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 99.67% | 97.23% | +2.44% |
Frequently Asked Questions
WAVES-USD and IONQ have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IONQ has higher volatility (24.39%) compared to WAVES-USD (12.99%). In terms of maximum drawdown, WAVES-USD dropped -99.60% vs IONQ's -90.00%.
IONQ currently has the higher Sharpe Ratio (0.02 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.
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