QBTS vs QQQ: Correlation
Measured on weekly returns over the past three years, D-Wave Quantum Inc. (QBTS) and Invesco QQQ Trust (QQQ) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QBTS and QQQ?
On 3 years of weekly data the QBTS/QQQ correlation comes out at 0.30, moderate. The link has tightened recently: the 1-year correlation (0.52) runs above the 3-year figure (0.30). The 5-year figure is 0.24, and annualized covariance runs at 828.7 %².
Among the 15 assets we track against QBTS, QQQ sits near the bottom by co-movement, at rank #11. The trailing year gives QQQ the advantage: +17.5% versus +26.3%, a 8.8-point spread. One caveat on sizing: QBTS is 7.3 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.
QBTS vs QQQ: side by side
| QBTS (D-Wave Quantum Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +17.5% | +26.3% |
| 5-year return | +84.0% | +95.4% |
| Volatility (ann.) | 143.4% | 19.6% |
| Beta vs S&P 500 | 2.86 | 1.28 |
| Max drawdown (3Y) | -71.0% | -22.8% |
| Market cap | $6.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QBTS | QQQ |
|---|---|---|
| 2022 | -85.3% | -32.6% |
| 2023 | -38.9% | +54.9% |
| 2024 | +854.5% | +25.6% |
| 2025 | +211.3% | +20.8% |
| 2026 | -31.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QBTS and QQQ good diversifiers for each other?
Reasonably. At 0.30, QBTS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QBTS and QQQ?
As of 2026-08-27, the correlation of weekly returns between QBTS and QQQ is 0.30 over 3 years, 0.52 over 1 year and 0.24 over 5 years.
Is QQQ a good diversifier for QBTS?
Reasonably. At 0.30, QBTS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.30 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.
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Related comparisons
Hubs: QBTS correlations · QQQ correlations
