AZO vs QTTB: Correlation
AutoZone (AZO) and Q32 Bio Inc. (QTTB) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZO and QTTB?
On 3 years of weekly data the AZO/QTTB correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.35 versus -0.21 over 3 years. The 5-year figure is -0.10, and annualized covariance runs at -655.4 %².
Within AZO's tracked universe of 30 assets, QTTB comes in at #23 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QTTB ahead by 869.3 points (-30.3% versus +839.0%). One caveat on sizing: QTTB is 5.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AZO vs QTTB: side by side
| AZO (AutoZone) | QTTB (Q32 Bio Inc.) | |
|---|---|---|
| 1-year return | -30.3% | +839.0% |
| 5-year return | +88.5% | -87.4% |
| Volatility (ann.) | 23.2% | 134.9% |
| Beta vs S&P 500 | 0.31 | 0.12 |
| Max drawdown (3Y) | -32.9% | -97.3% |
| Market cap | – | $0.5B |
| P/E (trailing) | 20.6 | 5.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | AZO | QTTB |
|---|---|---|
| 2022 | +17.6% | -65.4% |
| 2023 | +4.8% | -51.7% |
| 2024 | +23.8% | -68.6% |
| 2025 | +5.9% | -3.5% |
| 2026 | -13.5% | +386.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZO and QTTB good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between AZO and QTTB?
The AZO/QTTB correlation stands at -0.21 on a 3-year window (1 year: -0.35, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is QTTB a good diversifier for AZO?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/azo-vs-qttb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/azo-vs-qttb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AZO correlations · QTTB correlations
