QXL vs SHIM: Correlation
How closely do Quantum X Labs Inc. (QXL) and Shimmick Corporation (SHIM) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QXL and SHIM?
On 3 years of weekly data the QXL/SHIM correlation comes out at 0.55, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.12 versus 0.55 over 3 years. The 5-year figure is n/a, and annualized covariance runs at 49747.7 %².
Within QXL's tracked universe of 21 assets, SHIM comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QXL outperformed by 32.3 percentage points (+53.6% for QXL against +21.3% for SHIM). Risk is not evenly split, since QXL carries 6.0 times the volatility of the other side.
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.
QXL vs SHIM: side by side
| QXL (Quantum X Labs Inc.) | SHIM (Shimmick Corporation) | |
|---|---|---|
| 1-year return | +53.6% | +21.3% |
| 5-year return | +14.0% | n/a |
| Volatility (ann.) | 724.3% | 120.7% |
| Beta vs S&P 500 | -2.23 | 1.54 |
| Max drawdown (3Y) | -96.2% | -82.2% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | 13.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | QXL | SHIM |
|---|---|---|
| 2022 | -78.8% | – |
| 2023 | -80.2% | – |
| 2024 | +1032.7% | -60.8% |
| 2025 | -70.1% | +12.7% |
| 2026 | +207.2% | +36.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QXL and SHIM good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between QXL and SHIM?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.12 over the last year and n/a over 5 years.
Is SHIM a good diversifier for QXL?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: QXL correlations · SHIM correlations
