AX vs QNBC: Correlation
How closely do Axos Financial, Inc. (AX) and QNB Corp. (QNBC) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AX and QNBC?
Across a 3-year window, the weekly returns of AX and QNBC correlate at 0.39, moderate. Little has changed lately, as the 1-year reading of 0.36 lands near the 3-year figure. Stretching to 5 years gives 0.35, with an annualized covariance of 256.1 %².
Within AX's tracked universe of 15 assets, QNBC comes in at #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QNBC outperformed by 25.8 percentage points (+5.5% for AX against +31.3% for QNBC). Note the risk asymmetry: AX runs 2.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AX vs QNBC: side by side
| AX (Axos Financial, Inc.) | QNBC (QNB Corp.) | |
|---|---|---|
| 1-year return | +5.5% | +31.3% |
| 5-year return | +99.7% | +50.2% |
| Volatility (ann.) | 38.3% | 17.1% |
| Beta vs S&P 500 | 1.12 | -0.03 |
| Max drawdown (3Y) | -34.9% | -12.1% |
| Market cap | $5.5B | $0.3B |
| P/E (trailing) | 11.6 | 13.4 |
| Dividend yield | 0.00% | 3.43% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AX | QNBC |
|---|---|---|
| 2022 | -31.6% | -23.3% |
| 2023 | +42.9% | +4.7% |
| 2024 | +27.9% | +37.9% |
| 2025 | +23.4% | +7.7% |
| 2026 | +13.0% | +31.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AX and QNBC good diversifiers for each other?
Reasonably. At 0.39, AX and QNBC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AX and QNBC?
As of 2026-08-27, the correlation of weekly returns between AX and QNBC is 0.39 over 3 years, 0.36 over 1 year and 0.35 over 5 years.
Is QNBC a good diversifier for AX?
Reasonably. At 0.39, AX and QNBC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ax-vs-qnbc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ax-vs-qnbc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AX correlations · QNBC correlations
