MAX vs QNST: Correlation
Measured on weekly returns over the past three years, MediaAlpha, Inc. (MAX) and QuinStreet, Inc. (QNST) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAX and QNST?
Over the past 3 years, MAX and QNST moved with a correlation of 0.41, which is moderate. The link has tightened recently: the 1-year correlation (0.53) runs above the 3-year figure (0.41). Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 1133.4 %².
In MAX's tracked universe of 11 assets, QNST sits right near the top at #2. Their 12-month results are close: +21.2% for MAX against +21.4% for QNST.
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.
MAX vs QNST: side by side
| MAX (MediaAlpha, Inc.) | QNST (QuinStreet, Inc.) | |
|---|---|---|
| 1-year return | +21.2% | +21.4% |
| 5-year return | -44.3% | +6.2% |
| Volatility (ann.) | 58.2% | 47.9% |
| Beta vs S&P 500 | 0.96 | 1.22 |
| Max drawdown (3Y) | -67.7% | -58.0% |
| Market cap | $0.7B | $1.1B |
| P/E (trailing) | 7.8 | 14.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MAX | QNST |
|---|---|---|
| 2022 | -35.6% | -21.1% |
| 2023 | +12.1% | -10.7% |
| 2024 | +1.3% | +80.0% |
| 2025 | +14.7% | -37.7% |
| 2026 | -2.9% | +31.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MAX and QNST good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MAX and QNST?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.53 over the last year and 0.42 over 5 years.
Is QNST a good diversifier for MAX?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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/max-vs-qnst.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/max-vs-qnst/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MAX correlations · QNST correlations
