D Wave Correlations

QBTS Stock

USD 8.36 0.33 3.80%

The current 90-days correlation between D Wave Quantum and IONQ Inc is 0.65 (i.e., Poor diversification). The correlation of D Wave is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

D Wave Correlation With Market

Significant diversification

The correlation between D Wave Quantum and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding D Wave Quantum and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in D Wave Quantum. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving against QBTS Stock

0.36	JBL	Jabil Circuit	Pair Corr
0.35	SANM	Sanmina	Pair Corr
0.32	NTCT	NetScout Systems	Pair Corr
0.43	ENFN	Enfusion	Pair Corr
0.4	DOCN	DigitalOcean Holdings	Pair Corr
0.35	CSCO	Cisco Systems	Pair Corr
0.39	SAP	SAP SE ADR	Pair Corr
0.38	NET	Cloudflare	Pair Corr
0.36	MDB	MongoDB	Pair Corr

Related Correlations Analysis

	QUBT	IONQ	QMCO	DM	RGTI	SMCI	CRCT	SSYS	NNDM	VLD
QUBT		0.69	0.86	0.37	0.58	-0.44	0.3	-0.39	0.63	0.0	QUBT
IONQ	0.69		0.71	0.41	0.75	-0.4	0.49	-0.07	0.8	0.0	IONQ
QMCO	0.86	0.71		0.3	0.68	-0.48	0.3	-0.52	0.58	0.0	QMCO
DM	0.37	0.41	0.3		0.14	-0.14	0.55	0.06	0.4	0.0	DM
RGTI	0.58	0.75	0.68	0.14		-0.28	0.13	-0.1	0.63	0.0	RGTI
SMCI	-0.44	-0.4	-0.48	-0.14	-0.28		0.16	0.53	-0.26	0.0	SMCI
CRCT	0.3	0.49	0.3	0.55	0.13	0.16		0.0	0.35	0.0	CRCT
SSYS	-0.39	-0.07	-0.52	0.06	-0.1	0.53	0.0		0.2	0.0	SSYS
NNDM	0.63	0.8	0.58	0.4	0.63	-0.26	0.35	0.2		0.0	NNDM
VLD	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		VLD
	QUBT	IONQ	QMCO	DM	RGTI	SMCI	CRCT	SSYS	NNDM	VLD

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

QMCO	+ 0.86	QUBT
NNDM	+ 0.8	IONQ
RGTI	+ 0.75	IONQ
QMCO	+ 0.71	IONQ
IONQ	+ 0.69	QUBT
RGTI	+ 0.68	QMCO

High negative correlations

SSYS	- 0.52	QMCO
SMCI	- 0.48	QMCO
SMCI	- 0.44	QUBT
SMCI	- 0.4	IONQ
SSYS	- 0.39	QUBT
SMCI	- 0.28	RGTI

Risk-Adjusted Indicators

There is a big difference between QBTS Stock performing well and D Wave Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze D Wave's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
QUBT	11.17	1.61	0.13	(1.95)	11.65	(13.75)	51.53	(11.71)	108.47
IONQ	6.61	0.02	0.00	(0.06)	0.00	0.00	16.99	(13.83)	62.59
QMCO	13.70	2.11	0.16	1.30	11.66	(18.51)	40.09	(16.20)	193.01
DM	4.87	(0.46)	0.00	(0.35)	0.00	0.00	12.64	(10.66)	33.41
RGTI	10.59	1.64	0.12	1.26	12.67	(12.44)	32.03	(15.40)	81.44
SMCI	5.70	0.55	0.08	0.36	6.11	(6.95)	12.23	(11.76)	33.52
CRCT	1.86	(0.08)	0.00	(0.18)	0.00	0.00	4.21	(3.77)	12.14
SSYS	2.49	0.12	0.06	0.10	2.37	(3.24)	6.12	(3.36)	27.38
NNDM	2.41	(0.06)	0.00	1.26	0.00	0.00	6.35	(4.10)	23.92
VLD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

D Wave Corporate Management

Diane Nguyen	General Secretary	Profile
Michelle Maggs	Vice Marketing	Profile
Mohammad Amin	Principal Scientist	Profile
Trevor Lanting	Algorithms Software	Profile
John Markovich	Chief Officer	Profile
Victoria Brydon	VP Excellence	Profile
Michele Macready	Algorithms, Software	Profile

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