QDEL vs VGAS: Correlation
Measured on weekly returns over the past three years, QuidelOrtho Corporation (QDEL) and Verde Clean Fuels, Inc. (VGAS) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QDEL and VGAS?
Over the past 3 years, QDEL and VGAS moved with a correlation of -0.33, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -2048.6 %².
VGAS is close to the least connected end of QDEL's tracked universe, ranking #10 of 10. On 12-month performance QDEL holds a 9.7-point edge, -44.8% against -54.5%.
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.
QDEL vs VGAS: side by side
| QDEL (QuidelOrtho Corporation) | VGAS (Verde Clean Fuels, Inc.) | |
|---|---|---|
| 1-year return | -44.8% | -54.5% |
| 5-year return | -88.2% | -86.2% |
| Volatility (ann.) | 66.5% | 94.3% |
| Beta vs S&P 500 | 1.10 | 0.91 |
| Max drawdown (3Y) | -88.1% | -82.3% |
| Market cap | $1.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | QDEL | VGAS |
|---|---|---|
| 2022 | -36.5% | -8.2% |
| 2023 | -14.0% | -74.1% |
| 2024 | -39.6% | +72.2% |
| 2025 | -35.9% | -49.3% |
| 2026 | -46.4% | -34.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QDEL and VGAS good diversifiers for each other?
Yes. With a correlation of -0.33, QDEL and VGAS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QDEL and VGAS?
The QDEL/VGAS correlation stands at -0.33 on a 3-year window (1 year: -0.27, 5 years: -0.24), computed from weekly returns as of 2026-08-27.
Is VGAS a good diversifier for QDEL?
Yes. With a correlation of -0.33, QDEL and VGAS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/qdel-vs-vgas.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qdel-vs-vgas/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QDEL correlations · VGAS correlations
