We present measurements and theoretical interpretation of the magnetic field dependent excitation spectra of a two-electron quantum dot. The quantum dot is based on an AlxGa1−xAs parabolic quantum well with effective g ⋆-factor close to zero. Results of tunneling spectroscopy of the four lowest states are compared to exact diagonalization calculations and a generalized Heitler–London approximation and good agreement is found. Electronic correlations, associated with the formation of an H2-type Wigner molecule, turn out to be very important in this system