QNBC vs WM: Correlation
Measured on weekly returns over the past three years, QNB Corp. (QNBC) and Waste Management (WM) 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 QNBC and WM?
Across a 3-year window, the weekly returns of QNBC and WM correlate at -0.23, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.22 lands near the 3-year figure. Stretching to 5 years gives -0.15, with an annualized covariance of -72.6 %².
Within QNBC's tracked universe of 19 assets, WM comes in at #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QNBC ahead by 33.3 points (+31.3% versus -2.0%).
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 WM: side by side
| QNBC (QNB Corp.) | WM (Waste Management) | |
|---|---|---|
| 1-year return | +31.3% | -2.0% |
| 5-year return | +50.2% | +51.8% |
| Volatility (ann.) | 17.1% | 18.3% |
| Beta vs S&P 500 | -0.03 | 0.07 |
| Max drawdown (3Y) | -12.1% | -18.1% |
| Market cap | $0.3B | $87.0B |
| P/E (trailing) | 13.4 | 30.8 |
| Dividend yield | 3.43% | 1.60% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | QNBC | WM |
|---|---|---|
| 2022 | -23.3% | -4.5% |
| 2023 | +4.7% | +16.2% |
| 2024 | +37.9% | +14.3% |
| 2025 | +7.7% | +10.5% |
| 2026 | +31.2% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QNBC and WM good diversifiers for each other?
Yes. With a correlation of -0.23, QNBC and WM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QNBC and WM?
As of 2026-08-27, the correlation of weekly returns between QNBC and WM is -0.23 over 3 years, -0.22 over 1 year and -0.15 over 5 years.
Is WM a good diversifier for QNBC?
Yes. With a correlation of -0.23, QNBC and WM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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-wm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qnbc-vs-wm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QNBC correlations · WM correlations
