QBTS vs VXZ: Correlation
D-Wave Quantum Inc. (QBTS) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QBTS and VXZ?
Over the past 3 years, QBTS and VXZ moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.25 lands near the 3-year figure. Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -732.6 %².
VXZ is close to the least connected end of QBTS's tracked universe, ranking #13 of 15. Their recent paths diverged sharply: over the last 12 months QBTS outperformed by 33.6 percentage points (+17.5% for QBTS against -16.1% for VXZ). Risk is not evenly split, since QBTS carries 5.6 times the volatility of the other side.
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 VXZ: side by side
| QBTS (D-Wave Quantum Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +17.5% | -16.1% |
| 5-year return | +84.0% | -53.1% |
| Volatility (ann.) | 143.4% | 25.6% |
| Beta vs S&P 500 | 2.86 | -1.31 |
| Max drawdown (3Y) | -71.0% | -36.4% |
| Market cap | $6.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | QBTS | VXZ |
|---|---|---|
| 2022 | -85.3% | +0.5% |
| 2023 | -38.9% | -44.0% |
| 2024 | +854.5% | -12.7% |
| 2025 | +211.3% | +5.7% |
| 2026 | -31.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QBTS and VXZ good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QBTS and VXZ?
The QBTS/VXZ correlation stands at -0.20 on a 3-year window (1 year: -0.25, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for QBTS?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/qbts-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qbts-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QBTS correlations · VXZ correlations
