INOD vs IONQ: Correlation
Innodata Inc. (INOD) and IonQ, Inc. (IONQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INOD and IONQ?
Over the past 3 years, INOD and IONQ moved with a correlation of 0.54, which is moderate. Little has changed lately, as the 1-year reading of 0.54 lands near the 3-year figure. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 6617.4 %².
In INOD's tracked universe of 14 assets, IONQ sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months INOD outperformed by 49.1 percentage points (+51.6% for INOD against +2.5% for IONQ).
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.
INOD vs IONQ: side by side
| INOD (Innodata Inc.) | IONQ (IonQ, Inc.) | |
|---|---|---|
| 1-year return | +51.6% | +2.5% |
| 5-year return | +620.6% | +325.5% |
| Volatility (ann.) | 122.9% | 100.0% |
| Beta vs S&P 500 | 3.71 | 3.23 |
| Max drawdown (3Y) | -63.0% | -67.6% |
| Market cap | $2.0B | $17.2B |
| P/E (trailing) | 43.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INOD | IONQ |
|---|---|---|
| 2022 | -49.8% | -79.3% |
| 2023 | +174.1% | +259.1% |
| 2024 | +385.5% | +237.1% |
| 2025 | +28.9% | +7.4% |
| 2026 | +16.3% | -5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INOD and IONQ good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between INOD and IONQ?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.54 over the last year and 0.43 over 5 years.
Is IONQ a good diversifier for INOD?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/inod-vs-ionq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/inod-vs-ionq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: INOD correlations · IONQ correlations
