MX vs QTEX: Correlation
Measured on weekly returns over the past three years, Magnachip Semiconductor Corporation (MX) and QTREX Quantum Ltd. (QTEX) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MX and QTEX?
Over the past 3 years, MX and QTEX moved with a correlation of 0.51, which is moderate. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 8603.8 %².
By 3-year correlation, QTEX places #4 of the 16 assets tracked against MX. The last year tells two different stories: MX led by 29.4 percentage points, +2.2% for MX against -27.2% for QTEX. Risk is not evenly split, since QTEX carries 2.7 times the volatility of the other side.
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.
MX vs QTEX: side by side
| MX (Magnachip Semiconductor Corporation) | QTEX (QTREX Quantum Ltd.) | |
|---|---|---|
| 1-year return | +2.2% | -27.2% |
| 5-year return | -81.9% | -75.2% |
| Volatility (ann.) | 79.4% | 214.5% |
| Beta vs S&P 500 | 1.88 | 2.83 |
| Max drawdown (3Y) | -73.5% | -86.9% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MX | QTEX |
|---|---|---|
| 2022 | -55.2% | -69.0% |
| 2023 | -20.1% | -17.8% |
| 2024 | -46.4% | -3.8% |
| 2025 | -36.6% | -11.8% |
| 2026 | +27.1% | -6.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MX and QTEX good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MX and QTEX?
As of 2026-08-27, the correlation of weekly returns between MX and QTEX is 0.51 over 3 years, 0.59 over 1 year and 0.46 over 5 years.
Is QTEX a good diversifier for MX?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mx-vs-qtex.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: MX correlations · QTEX correlations
