QNBC vs SLV: Correlation
Measured on weekly returns over the past three years, QNB Corp. (QNBC) and iShares Silver Trust (SLV) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QNBC and SLV?
Over the past 3 years, QNBC and SLV moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.21 lands near the 3-year figure. Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -122.4 %².
By 3-year correlation, SLV places #12 of the 19 assets tracked against QNBC. Correlation aside, the last 12 months split them widely, with SLV ahead by 48.1 points (+31.3% versus +79.4%). Note the risk asymmetry: SLV runs 2.3 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.
QNBC vs SLV: side by side
| QNBC (QNB Corp.) | SLV (iShares Silver Trust) | |
|---|---|---|
| 1-year return | +31.3% | +79.4% |
| 5-year return | +50.2% | +182.0% |
| Volatility (ann.) | 17.1% | 38.6% |
| Beta vs S&P 500 | -0.03 | 0.80 |
| Max drawdown (3Y) | -12.1% | -52.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 13.4 | – |
| Dividend yield | 3.43% | 0.00% |
| Expense ratio | – | 0.50% |
| Assets under management | – | $28.1B |
| Sector / category | US Listed | ETF · Commodities |
SLV, iShares's Commodities Focused fund, carries $28.1B under management, a 0.50% expense ratio, a 0.00% trailing dividend yield.
Year-by-year returns
| Year | QNBC | SLV |
|---|---|---|
| 2022 | -23.3% | +2.4% |
| 2023 | +4.7% | -1.1% |
| 2024 | +37.9% | +20.9% |
| 2025 | +7.7% | +144.7% |
| 2026 | +31.2% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QNBC and SLV good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between QNBC and SLV?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.21 over the last year and -0.13 over 5 years.
Is SLV a good diversifier for QNBC?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
A reading of -0.19 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/qnbc-vs-slv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qnbc-vs-slv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QNBC correlations · SLV correlations
