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 -54.80%/yr vs 30.86%/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 -62.60% return, which is significantly lower than IONQ's -13.35% return.
WAVES-USD
- 1D
- -1.29%
- 1M
- -7.91%
- 6M
- -63.08%
- YTD
- -62.60%
- 1Y
- -76.55%
- 3Y*
- -49.36%
- 5Y*
- -54.80%
- 10Y*
- —
IONQ
- 1D
- -9.29%
- 1M
- -32.79%
- 6M
- -23.69%
- YTD
- -13.35%
- 1Y
- -7.01%
- 3Y*
- 42.10%
- 5Y*
- 30.86%
- 10Y*
- —
WAVES-USD vs. IONQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
WAVES-USD Waves | -62.60% | -54.78% | -43.34% | 104.25% | -90.98% | 163.24% |
IONQ IonQ, Inc. | -13.35% | 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 price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year 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 | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -2.71 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 1.06 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | -0.10 | -0.82 |
| Martin ratioReturn relative to average drawdown | -1.35 | -0.18 | -1.17 |
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Drawdowns
WAVES-USD vs. IONQ - Drawdown Comparison
The maximum WAVES-USD drawdown since its inception was -99.54%, 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 | -99.54% | -90.00% | -9.54% |
Max Drawdown (1Y)Largest decline over 1 year | -82.74% | -67.61% | -15.13% |
Max Drawdown (3Y)Largest decline over 3 years | -94.58% | -67.61% | -26.97% |
Max Drawdown (5Y)Largest decline over 5 years | -99.54% | -90.00% | -9.54% |
Current DrawdownCurrent decline from peak | -99.53% | -52.64% | -46.89% |
Average DrawdownAverage peak-to-trough decline | -81.87% | -50.70% | -31.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.87% | 38.64% | +6.23% |
Volatility
WAVES-USD vs. IONQ - Volatility Comparison
The current volatility for Waves (WAVES-USD) is 18.50%, while IonQ, Inc. (IONQ) has a volatility of 21.88%. 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 | 18.50% | 21.88% | -3.38% |
Volatility (6M)Calculated over the trailing 6-month period | 47.42% | 68.85% | -21.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.37% | 93.77% | -30.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 91.93% | 101.06% | -9.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 99.93% | 97.34% | +2.59% |
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 (21.88%) compared to WAVES-USD (18.50%). In terms of maximum drawdown, WAVES-USD dropped -99.54% vs IONQ's -90.00%.
IONQ currently has the higher Sharpe Ratio (-0.08 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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