MOV vs QTEX: Correlation
Movado Group Inc. (MOV) and QTREX Quantum Ltd. (QTEX) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MOV and QTEX?
Over the past 3 years, MOV and QTEX moved with a correlation of 0.51, which is moderate. The past 12 months show a tighter link (0.74) than the 3-year average (0.51). Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 4245.5 %².
Within MOV's tracked universe of 18 assets, QTEX comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MOV ahead by 136.4 points (+109.2% versus -27.2%). One caveat on sizing: QTEX is 5.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
MOV vs QTEX: side by side
| MOV (Movado Group Inc.) | QTEX (QTREX Quantum Ltd.) | |
|---|---|---|
| 1-year return | +109.2% | -27.2% |
| 5-year return | +29.6% | -75.2% |
| Volatility (ann.) | 39.1% | 214.5% |
| Beta vs S&P 500 | 1.15 | 2.83 |
| Max drawdown (3Y) | -55.1% | -86.9% |
| Market cap | $0.8B | $0.1B |
| P/E (trailing) | 19.4 | – |
| Dividend yield | 2.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MOV | QTEX |
|---|---|---|
| 2022 | -19.7% | -69.0% |
| 2023 | +2.0% | -17.8% |
| 2024 | -30.6% | -3.8% |
| 2025 | +13.9% | -11.8% |
| 2026 | +71.7% | -6.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MOV and QTEX good diversifiers for each other?
Only partially. A correlation of 0.51 means MOV and QTEX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MOV and QTEX?
As of 2026-08-27, the correlation of weekly returns between MOV and QTEX is 0.51 over 3 years, 0.74 over 1 year and 0.42 over 5 years.
Is QTEX a good diversifier for MOV?
Only partially. A correlation of 0.51 means MOV and QTEX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
A reading of 0.51 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MOV correlations · QTEX correlations
