AXON vs IONQ: Correlation
Axon Enterprise (AXON) and IonQ, Inc. (IONQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXON and IONQ?
Across a 3-year window, the weekly returns of AXON and IONQ correlate at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 2862.5 %².
By 3-year correlation, IONQ places #12 of the 35 assets tracked against AXON. The last year tells two different stories: IONQ led by 23.1 percentage points, -20.6% for AXON against +2.5% for IONQ. One caveat on sizing: IONQ is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AXON vs IONQ: side by side
| AXON (Axon Enterprise) | IONQ (IonQ, Inc.) | |
|---|---|---|
| 1-year return | -20.6% | +2.5% |
| 5-year return | +216.9% | +325.5% |
| Volatility (ann.) | 57.4% | 100.0% |
| Beta vs S&P 500 | 1.51 | 3.23 |
| Max drawdown (3Y) | -60.3% | -67.6% |
| Market cap | $49.7B | $17.2B |
| P/E (trailing) | 250.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | AXON | IONQ |
|---|---|---|
| 2022 | +5.7% | -79.3% |
| 2023 | +55.7% | +259.1% |
| 2024 | +130.1% | +237.1% |
| 2025 | -4.4% | +7.4% |
| 2026 | +7.6% | -5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXON and IONQ good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AXON and IONQ?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.47 over the last year and 0.45 over 5 years.
Is IONQ a good diversifier for AXON?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/axon-vs-ionq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/axon-vs-ionq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AXON correlations · IONQ correlations
