QTEX vs SPCE: Correlation
How closely do QTREX Quantum Ltd. (QTEX) and Virgin Galactic Holdings, Inc. (SPCE) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QTEX and SPCE?
On 3 years of weekly data the QTEX/SPCE correlation comes out at 0.56, moderate. The past 12 months show a tighter link (0.79) than the 3-year average (0.56). The 5-year figure is 0.51, and annualized covariance runs at 12171.7 %².
In QTEX's tracked universe of 10 assets, SPCE sits right near the top at #2. The last year tells two different stories: SPCE led by 24.3 percentage points, -27.2% for QTEX against -2.9% for SPCE. One caveat on sizing: QTEX is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
QTEX vs SPCE: side by side
| QTEX (QTREX Quantum Ltd.) | SPCE (Virgin Galactic Holdings, Inc.) | |
|---|---|---|
| 1-year return | -27.2% | -2.9% |
| 5-year return | -75.2% | -99.4% |
| Volatility (ann.) | 214.5% | 100.5% |
| Beta vs S&P 500 | 2.83 | 2.82 |
| Max drawdown (3Y) | -86.9% | -96.0% |
| Market cap | $0.1B | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | QTEX | SPCE |
|---|---|---|
| 2022 | -69.0% | -74.0% |
| 2023 | -17.8% | -29.6% |
| 2024 | -3.8% | -88.0% |
| 2025 | -11.8% | -45.4% |
| 2026 | -6.2% | -6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QTEX and SPCE good diversifiers for each other?
Only partially. A correlation of 0.56 means QTEX and SPCE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between QTEX and SPCE?
The QTEX/SPCE correlation stands at 0.56 on a 3-year window (1 year: 0.79, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is SPCE a good diversifier for QTEX?
Only partially. A correlation of 0.56 means QTEX and SPCE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qtex-vs-spce.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qtex-vs-spce/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QTEX correlations · SPCE correlations
