CRGO vs IONQ: Correlation
Measured on weekly returns over the past three years, Freightos Limited (CRGO) and IonQ, Inc. (IONQ) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRGO and IONQ?
Across a 3-year window, the weekly returns of CRGO and IONQ correlate at 0.44, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.29 versus 0.44 over 3 years. Stretching to 5 years gives 0.32, with an annualized covariance of 3599.3 %².
Few assets follow CRGO as closely as IONQ, which ranks #2 of 12 tracked partners. Correlation aside, the last 12 months split them widely, with IONQ ahead by 64.2 points (-61.7% versus +2.5%).
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.
CRGO vs IONQ: side by side
| CRGO (Freightos Limited) | IONQ (IonQ, Inc.) | |
|---|---|---|
| 1-year return | -61.7% | +2.5% |
| 5-year return | -86.7% | +325.5% |
| Volatility (ann.) | 82.7% | 100.0% |
| Beta vs S&P 500 | 1.79 | 3.23 |
| Max drawdown (3Y) | -72.6% | -67.6% |
| Market cap | $0.1B | $17.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRGO | IONQ |
|---|---|---|
| 2022 | +4.2% | -79.3% |
| 2023 | -67.3% | +259.1% |
| 2024 | -8.4% | +237.1% |
| 2025 | -25.2% | +7.4% |
| 2026 | -43.0% | -5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRGO and IONQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CRGO and IONQ?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.29 over the last year and 0.32 over 5 years.
Is IONQ a good diversifier for CRGO?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/crgo-vs-ionq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crgo-vs-ionq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CRGO correlations · IONQ correlations
