HYFM vs QNME: Correlation
Measured on weekly returns over the past three years, Hydrofarm Holdings Group, Inc. (HYFM) and Quanome Technologies, Inc. (QNME) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYFM and QNME?
On 3 years of weekly data the HYFM/QNME correlation comes out at 0.36, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.53 versus 0.36 over 3 years. The 5-year figure is n/a, and annualized covariance runs at 7129.4 %².
By 3-year correlation, QNME places #13 of the 19 assets tracked against HYFM. Their recent paths diverged sharply: over the last 12 months QNME outperformed by 16.0 percentage points (-80.5% for HYFM against -64.5% for QNME).
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.
HYFM vs QNME: side by side
| HYFM (Hydrofarm Holdings Group, Inc.) | QNME (Quanome Technologies, Inc.) | |
|---|---|---|
| 1-year return | -80.5% | -64.5% |
| 5-year return | -99.8% | n/a |
| Volatility (ann.) | 148.0% | 118.3% |
| Beta vs S&P 500 | 2.71 | 0.91 |
| Max drawdown (3Y) | -96.6% | -93.7% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HYFM | QNME |
|---|---|---|
| 2022 | -94.5% | – |
| 2023 | -40.8% | – |
| 2024 | -36.8% | – |
| 2025 | -74.0% | -64.4% |
| 2026 | -41.1% | -65.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYFM and QNME good diversifiers for each other?
Reasonably. At 0.36, HYFM and QNME keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HYFM and QNME?
As of 2026-08-27, the correlation of weekly returns between HYFM and QNME is 0.36 over 3 years, 0.53 over 1 year and n/a over 5 years.
Is QNME a good diversifier for HYFM?
Reasonably. At 0.36, HYFM and QNME keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hyfm-vs-qnme.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hyfm-vs-qnme/)
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Related comparisons
Hubs: HYFM correlations · QNME correlations
