BON vs QBTS: Correlation
Measured on weekly returns over the past three years, Bon Natural Life Limited - Class A (BON) and D-Wave Quantum Inc. (QBTS) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BON and QBTS?
Over the past 3 years, BON and QBTS moved with a correlation of 0.36, which is moderate. The link has loosened recently: the 1-year correlation (0.14) runs below the 3-year figure (0.36). Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 4895.5 %².
In BON's tracked universe of 12 assets, QBTS sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months QBTS outperformed by 35.5 percentage points (-18.0% for BON against +17.5% for QBTS). One caveat on sizing: QBTS is 1.5 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.
BON vs QBTS: side by side
| BON (Bon Natural Life Limited - Class A) | QBTS (D-Wave Quantum Inc.) | |
|---|---|---|
| 1-year return | -18.0% | +17.5% |
| 5-year return | -100.0% | +84.0% |
| Volatility (ann.) | 94.3% | 143.4% |
| Beta vs S&P 500 | 1.69 | 2.86 |
| Max drawdown (3Y) | -99.4% | -71.0% |
| Market cap | – | $6.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BON | QBTS |
|---|---|---|
| 2022 | -76.2% | -85.3% |
| 2023 | -48.9% | -38.9% |
| 2024 | -67.2% | +854.5% |
| 2025 | -96.4% | +211.3% |
| 2026 | -28.3% | -31.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BON and QBTS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BON and QBTS?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.14 over the last year and 0.20 over 5 years.
Is QBTS a good diversifier for BON?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bon-vs-qbts.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bon-vs-qbts/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BON correlations · QBTS correlations
