QCLS vs SKWD: Correlation
Measured on weekly returns over the past three years, Q/C Technologies, Inc. (QCLS) and Skyward Specialty Insurance Group, Inc. (SKWD) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QCLS and SKWD?
Over the past 3 years, QCLS and SKWD moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.29) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -873.3 %².
Among the 16 assets we track against QCLS, SKWD sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with SKWD ahead by 92.2 points (-73.7% versus +18.5%). One caveat on sizing: QCLS is 3.1 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.
QCLS vs SKWD: side by side
| QCLS (Q/C Technologies, Inc.) | SKWD (Skyward Specialty Insurance Group, Inc.) | |
|---|---|---|
| 1-year return | -73.7% | +18.5% |
| 5-year return | -100.0% | n/a |
| Volatility (ann.) | 108.9% | 34.9% |
| Beta vs S&P 500 | 0.87 | 0.31 |
| Max drawdown (3Y) | -99.9% | -36.5% |
| Market cap | – | $2.3B |
| P/E (trailing) | – | 13.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | QCLS | SKWD |
|---|---|---|
| 2022 | -81.0% | – |
| 2023 | -77.5% | – |
| 2024 | -85.2% | +49.2% |
| 2025 | -96.5% | +1.1% |
| 2026 | -40.6% | +12.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QCLS and SKWD good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between QCLS and SKWD?
The QCLS/SKWD correlation stands at -0.23 on a 3-year window (1 year: -0.29, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SKWD a good diversifier for QCLS?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/qcls-vs-skwd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qcls-vs-skwd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QCLS correlations · SKWD correlations
