QNME vs VGAS: Correlation
How closely do Quanome Technologies, Inc. (QNME) and Verde Clean Fuels, Inc. (VGAS) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QNME and VGAS?
Over the past 3 years, QNME and VGAS moved with a correlation of 0.32, which is moderate. The link has tightened recently: the 1-year correlation (0.48) runs above the 3-year figure (0.32). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 2980.4 %².
By 3-year correlation, VGAS places #4 of the 10 assets tracked against QNME. Over the last 12 months VGAS came out ahead by 10.0 percentage points (-64.5% 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.
QNME vs VGAS: side by side
| QNME (Quanome Technologies, Inc.) | VGAS (Verde Clean Fuels, Inc.) | |
|---|---|---|
| 1-year return | -64.5% | -54.5% |
| 5-year return | n/a | -86.2% |
| Volatility (ann.) | 118.3% | 94.3% |
| Beta vs S&P 500 | 0.91 | 0.91 |
| Max drawdown (3Y) | -93.7% | -82.3% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | QNME | VGAS |
|---|---|---|
| 2022 | – | -8.2% |
| 2023 | – | -74.1% |
| 2024 | – | +72.2% |
| 2025 | -64.4% | -49.3% |
| 2026 | -65.7% | -34.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QNME and VGAS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QNME and VGAS?
The QNME/VGAS correlation stands at 0.32 on a 3-year window (1 year: 0.48, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is VGAS a good diversifier for QNME?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 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/qnme-vs-vgas.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qnme-vs-vgas/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QNME correlations · VGAS correlations
