PNRG vs QTEX: Correlation
PrimeEnergy Resources Corporation (PNRG) and QTREX Quantum Ltd. (QTEX) show a negative relationship: their 3-year correlation of weekly returns is -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNRG and QTEX?
Over the past 3 years, PNRG and QTEX moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.60) than the 3-year average (-0.34). Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -3944.7 %².
QTEX is close to the least connected end of PNRG's tracked universe, ranking #12 of 13. Correlation aside, the last 12 months split them widely, with PNRG ahead by 64.4 points (+37.2% versus -27.2%). One caveat on sizing: QTEX is 3.9 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.
PNRG vs QTEX: side by side
| PNRG (PrimeEnergy Resources Corporation) | QTEX (QTREX Quantum Ltd.) | |
|---|---|---|
| 1-year return | +37.2% | -27.2% |
| 5-year return | +312.9% | -75.2% |
| Volatility (ann.) | 54.8% | 214.5% |
| Beta vs S&P 500 | 0.69 | 2.83 |
| Max drawdown (3Y) | -44.6% | -86.9% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | 20.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PNRG | QTEX |
|---|---|---|
| 2022 | +23.9% | -69.0% |
| 2023 | +22.4% | -17.8% |
| 2024 | +106.5% | -3.8% |
| 2025 | -22.1% | -11.8% |
| 2026 | +23.1% | -6.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNRG and QTEX good diversifiers for each other?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PNRG and QTEX?
The PNRG/QTEX correlation stands at -0.34 on a 3-year window (1 year: -0.60, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is QTEX a good diversifier for PNRG?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 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.
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Related comparisons
Hubs: PNRG correlations · QTEX correlations
