BMA vs QTI: Correlation
Banco Macro S.A. ADR (representing Ten Class B (BMA) and QT Imaging Holdings, Inc. (QTI) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMA and QTI?
Across a 3-year window, the weekly returns of BMA and QTI correlate at -0.27, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.56) runs below the 3-year figure (-0.27). Stretching to 5 years gives -0.23, with an annualized covariance of -1973.1 %².
QTI is close to the least connected end of BMA's tracked universe, ranking #14 of 16. Correlation aside, the last 12 months split them widely, with BMA ahead by 130.7 points (+39.1% versus -91.6%). Note the risk asymmetry: QTI runs 1.6 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.
BMA vs QTI: side by side
| BMA (Banco Macro S.A. ADR (representing Ten Class B) | QTI (QT Imaging Holdings, Inc.) | |
|---|---|---|
| 1-year return | +39.1% | -91.6% |
| 5-year return | +460.4% | -97.9% |
| Volatility (ann.) | 68.3% | 108.2% |
| Beta vs S&P 500 | 1.06 | 0.12 |
| Max drawdown (3Y) | -65.9% | -98.6% |
| Market cap | $4.9B | – |
| P/E (trailing) | 19.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BMA | QTI |
|---|---|---|
| 2022 | +27.0% | +3.1% |
| 2023 | +91.6% | +7.7% |
| 2024 | +277.8% | -95.6% |
| 2025 | -6.2% | -16.7% |
| 2026 | -11.4% | -48.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMA and QTI good diversifiers for each other?
Yes. With a correlation of -0.27, BMA and QTI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BMA and QTI?
The BMA/QTI correlation stands at -0.27 on a 3-year window (1 year: -0.56, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is QTI a good diversifier for BMA?
Yes. With a correlation of -0.27, BMA and QTI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 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/bma-vs-qti.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bma-vs-qti/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BMA correlations · QTI correlations
