Quantum Computing Correlations

QUBT Stock

USD 7.19 -0.06 -0.83%

The current 90-days correlation between Quantum Computing and Navitas Semiconductor Corp is 0.68 (i.e., Poor diversification).A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Quantum Computing moves, either up or down, the other security will move in the same direction.

Market Correlation Signal - Quantum Computing

Weak diversification

For the present investment horizon, the measured correlation between QUBT and DJI stands at 0.31, or Weak diversification. This matters because lower overlap can improve diversification, while higher overlap leaves more of the same risk inside the portfolio.

Build portfolio with Quantum Stock

Quantum Computing has a market cap of 1.63 B, operating margin of -112.2%, ROE of -2.19%. Use Your Equity Center to explore allocation context. This includes a position in Quantum Computing within the allocation view. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

For more detail on how to invest in Quantum Stock please use our How to Invest in Quantum Computing guide.

Moving together with Quantum Stock

0.93	PAR	PAR Technology	Pair Corr
0.96	QBTS	D Wave Quantum	Pair Corr
0.97	RGTI	Rigetti Computing	Pair Corr

Moving against Quantum Stock

0.89	VIAV	Viavi Solutions Buyout Trend	Pair Corr
0.85	GILD	Gilead Sciences	Pair Corr
0.81	NVSEF	Novartis AG	Pair Corr
0.78	KCHV	Kochav Defense	Pair Corr
0.73	CWQXF	Castellum AB	Pair Corr
0.68	RTX	Raytheon Technologies	Pair Corr
0.62	RHHVF	Roche Holding AG	Pair Corr
0.53	TATT	Tat Techno	Pair Corr
0.44	ELGL	Element Global	Pair Corr
0.41	20030NCM1	COMCAST P NEW	Pair Corr
0.35	YLLXF	Yellow Cake plc	Pair Corr
0.31	BLAGF	Blue Lagoon Resources	Pair Corr

Related Correlations Analysis

	NVTS	WBTN	CNXC	GRND	BBAI	VSH	ACLS	ALRM	ODD	DXC
NVTS		0.02	0.06	-0.06	0.11	0.28	0.59	-0.05	-0.3	-0.14	NVTS
WBTN	0.02		0.82	0.56	0.87	-0.38	0.39	0.69	0.82	0.83	WBTN
CNXC	0.06	0.82		0.58	0.88	-0.44	0.31	0.74	0.77	0.89	CNXC
GRND	-0.06	0.56	0.58		0.73	-0.87	0.0	0.84	0.53	0.48	GRND
BBAI	0.11	0.87	0.88	0.73		-0.55	0.4	0.8	0.82	0.86	BBAI
VSH	0.28	-0.38	-0.44	-0.87	-0.55		0.11	-0.8	-0.43	-0.38	VSH
ACLS	0.59	0.39	0.31	0.0	0.4	0.11		0.17	0.17	0.33	ACLS
ALRM	-0.05	0.69	0.74	0.84	0.8	-0.8	0.17		0.57	0.7	ALRM
ODD	-0.3	0.82	0.77	0.53	0.82	-0.43	0.17	0.57		0.88	ODD
DXC	-0.14	0.83	0.89	0.48	0.86	-0.38	0.33	0.7	0.88		DXC
	NVTS	WBTN	CNXC	GRND	BBAI	VSH	ACLS	ALRM	ODD	DXC

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

DXC	+ 0.89	CNXC
BBAI	+ 0.88	CNXC
DXC	+ 0.88	ODD
BBAI	+ 0.87	WBTN
DXC	+ 0.86	BBAI
ALRM	+ 0.84	GRND

High negative correlations

VSH	- 0.87	GRND
ALRM	- 0.8	VSH
VSH	- 0.55	BBAI
VSH	- 0.44	CNXC
ODD	- 0.43	VSH
DXC	- 0.38	VSH

Risk-Adjusted Indicators

Strong stock returns do not always mean Quantum Computing Company is outperforming its peers on a fundamental level. Risk-adjusted metrics allow investors to compare Quantum Computing's efficiency and downside exposure against peers in a more meaningful way. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NVTS	5.50	0.61	0.05	0.05	5.61	-6.73	17.37	-9.39	32.82
WBTN	2.15	-0.41	0.00	-0.34	0.00	0.00	3.36	-5.35	15.87
CNXC	3.36	-0.05	0.00	-0.10	0.00	0.00	5.72	-9.35	19.57
GRND	1.64	-0.18	0.00	0.21	0.00	0.00	3.37	-3.77	7.96
BBAI	4.02	-0.55	0.00	-0.32	0.00	0.00	8.15	-8.15	23.56
VSH	2.17	0.34	0.11	0.11	2.33	-2.43	5.48	-3.77	13.69
ACLS	2.64	0.15	0.02	0.00	3.94	-2.73	5.46	-5.00	23.94
ALRM	1.23	-0.12	0.00	-0.21	0.00	0.00	3.42	-2.96	8.48
ODD	3.78	-1.35	0.00	-28.37	0.00	0.00	5.26	-8.02	55.97
DXC	2.23	-0.22	0.00	-0.23	0.00	0.00	5.56	-5.79	18.35

Quantum Computing Corporate Management

Yong Sua	Chief Officer	Profile
Christopher Roberts	Treasurer Counsel	Profile
Chris Boehmler	Chief Officer	Profile
Carly Saxton	Vice Resources	Profile
Pouya Dianat	Chief Officer	Profile
Richard Nelson	Senior Development	Profile
Milan Begliarbekov	Chief Officer	Profile

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