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 -54.23%/yr vs 45.41%/yr for IONQ. At a 0.18 correlation, their price movements are largely independent.
Performance
WAVES-USD vs. IONQ - Performance Comparison
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Returns By Period
In the year-to-date period, WAVES-USD achieves a -58.59% return, which is significantly lower than IONQ's 46.33% return.
WAVES-USD
- 1D
- -6.43%
- 1M
- -32.11%
- YTD
- -58.59%
- 6M
- -61.17%
- 1Y
- -74.00%
- 3Y*
- -43.49%
- 5Y*
- -54.23%
- 10Y*
- —
IONQ
- 1D
- -3.77%
- 1M
- 36.79%
- YTD
- 46.33%
- 6M
- 19.91%
- 1Y
- 65.64%
- 3Y*
- 88.26%
- 5Y*
- 45.41%
- 10Y*
- —
WAVES-USD vs. IONQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
WAVES-USD Waves | -58.59% | -54.78% | -43.34% | 104.25% | -90.98% | 170.00% |
IONQ IonQ, Inc. | 46.33% | 7.42% | 237.13% | 259.13% | -79.34% | 54.63% |
Correlation
The correlation between WAVES-USD and IONQ is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 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.
| WAVES-USD | IONQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.72 | ||
| Sortino ratioReturn per unit of downside risk | -3.64 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 1.18 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 0.98 | -1.90 |
| Martin ratioReturn relative to average drawdown | -1.47 | 1.78 | -3.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WAVES-USD | IONQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.00 | 0.72 | -1.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.49 | 0.46 | -0.94 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.23 | 0.41 | -0.64 |
Drawdowns
WAVES-USD vs. IONQ - Drawdown Comparison
The maximum WAVES-USD drawdown since its inception was -99.48%, 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 | -99.48% | -90.00% | -9.48% |
Max Drawdown (1Y)Largest decline over 1 year | -80.22% | -67.61% | -12.61% |
Max Drawdown (3Y)Largest decline over 3 years | -93.78% | -67.61% | -26.17% |
Max Drawdown (5Y)Largest decline over 5 years | -99.48% | -90.00% | -9.48% |
Current DrawdownCurrent decline from peak | -99.48% | -20.01% | -79.47% |
Average DrawdownAverage peak-to-trough decline | -81.68% | -51.01% | -30.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.87% | 36.93% | +7.94% |
Volatility
WAVES-USD vs. IONQ - Volatility Comparison
The current volatility for Waves (WAVES-USD) is 17.79%, while IonQ, Inc. (IONQ) has a volatility of 30.46%. 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 | 17.79% | 30.46% | -12.67% |
Volatility (6M)Calculated over the trailing 6-month period | 43.00% | 67.13% | -24.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 61.70% | 91.67% | -29.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 92.72% | 100.12% | -7.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 100.24% | 97.38% | +2.86% |
Frequently Asked Questions
WAVES-USD and IONQ have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IONQ has higher volatility (30.46%) compared to WAVES-USD (17.79%). In terms of maximum drawdown, WAVES-USD dropped -99.48% vs IONQ's -90.00%.
IONQ currently has the higher Sharpe Ratio (0.72 vs -1.00), 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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