EW vs QNBC: Correlation
How closely do Edwards Lifesciences (EW) and QNB Corp. (QNBC) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EW and QNBC?
Over the past 3 years, EW and QNBC moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.17) than the 3-year average (-0.28). Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -149.4 %².
Out of 30 assets tracked against EW, QNBC lands near the bottom at #27. The last year tells two different stories: QNBC led by 20.1 percentage points, +11.2% for EW against +31.3% for QNBC. Note the risk asymmetry: EW runs 1.8 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.
EW vs QNBC: side by side
| EW (Edwards Lifesciences) | QNBC (QNB Corp.) | |
|---|---|---|
| 1-year return | +11.2% | +31.3% |
| 5-year return | -23.8% | +50.2% |
| Volatility (ann.) | 31.6% | 17.1% |
| Beta vs S&P 500 | 0.81 | -0.03 |
| Max drawdown (3Y) | -37.5% | -12.1% |
| Market cap | $51.8B | $0.3B |
| P/E (trailing) | 54.2 | 13.4 |
| Dividend yield | 0.00% | 3.43% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | EW | QNBC |
|---|---|---|
| 2022 | -42.4% | -23.3% |
| 2023 | +2.2% | +4.7% |
| 2024 | -2.9% | +37.9% |
| 2025 | +15.2% | +7.7% |
| 2026 | +5.5% | +31.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EW and QNBC good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EW and QNBC?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.17 over the last year and -0.09 over 5 years.
Is QNBC a good diversifier for EW?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 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/ew-vs-qnbc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ew-vs-qnbc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EW correlations · QNBC correlations
