QNTM vs SDA: Correlation
How closely do Quantum Biopharma Ltd. - Class B Subordinate Voting Shares (QNTM) and SunCar Technology Group Inc. (SDA) trade together? Their weekly returns over three years give a correlation of -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QNTM and SDA?
Over the past 3 years, QNTM and SDA moved with a correlation of -0.35, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.21) runs above the 3-year figure (-0.35). Over 5 years the correlation is -0.22, and the annualized covariance of weekly returns is -6795.6 %².
Among the 14 assets we track against QNTM, SDA sits near the bottom by co-movement, at rank #14. Over the last 12 months SDA came out ahead by 10.6 percentage points (-81.3% against -70.7%). Note the risk asymmetry: QNTM runs 2.7 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.
QNTM vs SDA: side by side
| QNTM (Quantum Biopharma Ltd. - Class B Subordinate Voting Shares) | SDA (SunCar Technology Group Inc.) | |
|---|---|---|
| 1-year return | -81.3% | -70.7% |
| 5-year return | -97.4% | -92.6% |
| Volatility (ann.) | 230.6% | 84.1% |
| Beta vs S&P 500 | 0.93 | 0.35 |
| Max drawdown (3Y) | -98.0% | -95.7% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | QNTM | SDA |
|---|---|---|
| 2022 | -22.7% | +4.3% |
| 2023 | +16.8% | -20.3% |
| 2024 | -93.8% | +17.0% |
| 2025 | +98.4% | -79.1% |
| 2026 | -57.1% | -63.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QNTM and SDA good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QNTM and SDA?
The QNTM/SDA correlation stands at -0.35 on a 3-year window (1 year: -0.21, 5 years: -0.22), computed from weekly returns as of 2026-08-27.
Is SDA a good diversifier for QNTM?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 mean?
A reading of -0.35 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
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Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qntm-vs-sda/)
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Related comparisons
Hubs: QNTM correlations · SDA correlations
