FXI vs QNBC: Correlation
iShares China Large-Cap ETF (FXI) and QNB Corp. (QNBC) show a negative relationship: their 3-year correlation of weekly returns is -0.15.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FXI and QNBC?
Over the past 3 years, FXI and QNBC moved with a correlation of -0.15, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.06) runs above the 3-year figure (-0.15). Over 5 years the correlation is -0.06, and the annualized covariance of weekly returns is -65.5 %².
By 3-year correlation, QNBC places #65 of the 74 assets tracked against FXI. Correlation aside, the last 12 months split them widely, with QNBC ahead by 37.4 points (-6.1% versus +31.3%).
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.
FXI vs QNBC: side by side
| FXI (iShares China Large-Cap ETF) | QNBC (QNB Corp.) | |
|---|---|---|
| 1-year return | -6.1% | +31.3% |
| 5-year return | -1.4% | +50.2% |
| Volatility (ann.) | 25.3% | 17.1% |
| Beta vs S&P 500 | 0.68 | -0.03 |
| Max drawdown (3Y) | -23.2% | -12.1% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | 13.4 |
| Dividend yield | 1.87% | 3.43% |
| Expense ratio | 0.73% | – |
| Assets under management | $4.3B | – |
| Sector / category | ETF · International | US Listed |
FXI, iShares's Greater China Region fund, carries $4.3B under management, 50 holdings, a 0.73% expense ratio, a 1.87% trailing dividend yield.
Year-by-year returns
| Year | FXI | QNBC |
|---|---|---|
| 2022 | -20.7% | -23.3% |
| 2023 | -12.4% | +4.7% |
| 2024 | +29.0% | +37.9% |
| 2025 | +28.9% | +7.7% |
| 2026 | -7.3% | +31.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FXI and QNBC good diversifiers for each other?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FXI and QNBC?
Using weekly returns as of 2026-08-27: -0.15 over 3 years, with 0.06 over the last year and -0.06 over 5 years.
Is QNBC a good diversifier for FXI?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.15 mean?
A reading of -0.15 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/fxi-vs-qnbc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fxi-vs-qnbc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FXI correlations · QNBC correlations
