ALT vs QXO: Correlation
Altimmune, Inc. (ALT) and QXO, Inc. (QXO) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALT and QXO?
Over the past 3 years, ALT and QXO moved with a correlation of 0.42, which is moderate. The link has loosened recently: the 1-year correlation (0.27) runs below the 3-year figure (0.42). Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 5223.5 %².
Within ALT's tracked universe of 13 assets, QXO comes in at #6 by 3-year correlation. The last year tells two different stories: ALT led by 22.0 percentage points, -11.7% for ALT against -33.7% for QXO.
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.
ALT vs QXO: side by side
| ALT (Altimmune, Inc.) | QXO (QXO, Inc.) | |
|---|---|---|
| 1-year return | -11.7% | -33.7% |
| 5-year return | -77.0% | -70.0% |
| Volatility (ann.) | 94.4% | 132.0% |
| Beta vs S&P 500 | 1.91 | 1.05 |
| Max drawdown (3Y) | -81.2% | -95.4% |
| Market cap | $0.6B | $14.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALT | QXO |
|---|---|---|
| 2022 | +79.6% | -33.8% |
| 2023 | -31.6% | +508.5% |
| 2024 | -35.9% | -86.1% |
| 2025 | -49.9% | +21.3% |
| 2026 | -10.2% | -28.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALT and QXO good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALT and QXO?
As of 2026-08-27, the correlation of weekly returns between ALT and QXO is 0.42 over 3 years, 0.27 over 1 year and 0.34 over 5 years.
Is QXO a good diversifier for ALT?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/alt-vs-qxo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/alt-vs-qxo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALT correlations · QXO correlations
