QXL vs SPY: Correlation
Measured on weekly returns over the past three years, Quantum X Labs Inc. (QXL) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of -0.04, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QXL and SPY?
On 3 years of weekly data the QXL/SPY correlation comes out at -0.04, near zero, meaning they move largely independently. Lately the two have moved closer together, with the 1-year correlation at 0.21 versus -0.04 over 3 years. The 5-year figure is -0.03, and annualized covariance runs at -465.9 %².
Within QXL's tracked universe of 21 assets, SPY comes in at #10 by 3-year correlation. The last year tells two different stories: QXL led by 33.0 percentage points, +53.6% for QXL against +20.6% for SPY. Note the risk asymmetry: QXL runs 50.0 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.
QXL vs SPY: side by side
| QXL (Quantum X Labs Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +53.6% | +20.6% |
| 5-year return | +14.0% | +82.4% |
| Volatility (ann.) | 724.3% | 14.5% |
| Beta vs S&P 500 | -2.23 | 1.00 |
| Max drawdown (3Y) | -96.2% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 13.4 | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | QXL | SPY |
|---|---|---|
| 2022 | -78.8% | -18.2% |
| 2023 | -80.2% | +26.2% |
| 2024 | +1032.7% | +24.9% |
| 2025 | -70.1% | +17.7% |
| 2026 | +207.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QXL and SPY good diversifiers for each other?
Yes. With a correlation of -0.04, QXL and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QXL and SPY?
The QXL/SPY correlation stands at -0.04 on a 3-year window (1 year: 0.21, 5 years: -0.03), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for QXL?
Yes. With a correlation of -0.04, QXL and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.04 mean?
On the −1 to +1 scale, -0.04 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.
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Related comparisons
Hubs: QXL correlations · SPY correlations
