PFSI vs QNCX: Correlation
How closely do PennyMac Financial Services, Inc. (PFSI) and Quince Therapeutics, Inc. (QNCX) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFSI and QNCX?
Over the past 3 years, PFSI and QNCX moved with a correlation of 0.33, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.54 versus 0.33 over 3 years. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 1290.2 %².
Within PFSI's tracked universe of 14 assets, QNCX comes in at #8 by 3-year correlation. The last year tells two different stories: PFSI led by 58.3 percentage points, -31.3% for PFSI against -89.6% for QNCX. Note the risk asymmetry: QNCX runs 3.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PFSI vs QNCX: side by side
| PFSI (PennyMac Financial Services, Inc.) | QNCX (Quince Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -31.3% | -89.6% |
| 5-year return | +17.5% | -99.8% |
| Volatility (ann.) | 34.9% | 111.4% |
| Beta vs S&P 500 | 0.57 | 0.55 |
| Max drawdown (3Y) | -53.8% | -98.2% |
| Market cap | $3.8B | – |
| P/E (trailing) | 10.0 | – |
| Dividend yield | 1.65% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PFSI | QNCX |
|---|---|---|
| 2022 | -17.6% | -95.0% |
| 2023 | +57.8% | +64.8% |
| 2024 | +16.8% | +78.1% |
| 2025 | +30.5% | +79.1% |
| 2026 | -43.6% | -95.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PFSI and QNCX good diversifiers for each other?
Reasonably. At 0.33, PFSI and QNCX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PFSI and QNCX?
As of 2026-08-27, the correlation of weekly returns between PFSI and QNCX is 0.33 over 3 years, 0.54 over 1 year and 0.30 over 5 years.
Is QNCX a good diversifier for PFSI?
Reasonably. At 0.33, PFSI and QNCX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 mean?
A reading of 0.33 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/pfsi-vs-qncx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pfsi-vs-qncx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PFSI correlations · QNCX correlations
