Quantum Computing Correlations

QUBT Stock

USD 7.39 0.98 11.71%

The current 90-days correlation between Quantum Computing and Red Cat Holdings is 0.34 (i.e., Weak diversification). The correlation of Quantum Computing is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Quantum Computing Correlation With Market

Good diversification

The correlation between Quantum Computing and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Quantum Computing and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Quantum Computing. 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 information on how to buy Quantum Stock please use our How to Invest in Quantum Computing guide.

Moving together with Quantum Stock

0.81	NN	Nextnav Acquisition Corp	Pair Corr
0.67	TDC	Teradata Corp	Pair Corr
0.73	SLNH	Soluna Holdings	Pair Corr

Moving against Quantum Stock

0.72	ALTR	Altair Engineering	Pair Corr
0.65	CSCO	Cisco Systems	Pair Corr
0.61	JG	Aurora Mobile	Pair Corr
0.53	ZS	Zscaler	Pair Corr
0.52	BB	BlackBerry	Pair Corr
0.44	FTNT	Fortinet	Pair Corr
0.43	DOCN	DigitalOcean Holdings	Pair Corr
0.36	MQ	Marqeta	Pair Corr
0.8	WM	Waste Management	Pair Corr
0.74	JNJ	Johnson Johnson	Pair Corr
0.73	CWCO	Consolidated Water Earnings Call This Week	Pair Corr
0.71	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.66	IBM	International Business	Pair Corr
0.64	VZ	Verizon Communications	Pair Corr
0.55	XOM	Exxon Mobil Corp	Pair Corr
0.52	TRV	The Travelers Companies	Pair Corr
0.51	300131	ShenZhen Yitoa Intel	Pair Corr
0.51	MCD	McDonalds	Pair Corr
0.36	SSNLF	Samsung Electronics	Pair Corr
0.35	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	QBTS	IONQ	QMCO	DM	RGTI	STRC	RCAT	SMCI	CRCT	SSYS
QBTS		0.22	0.53	0.36	0.51	0.0	0.25	0.04	0.1	-0.17	QBTS
IONQ	0.22		0.71	0.41	0.75	0.0	0.88	-0.4	0.49	-0.07	IONQ
QMCO	0.53	0.71		0.3	0.68	0.0	0.76	-0.48	0.3	-0.52	QMCO
DM	0.36	0.41	0.3		0.14	0.0	0.42	-0.14	0.55	0.06	DM
RGTI	0.51	0.75	0.68	0.14		0.0	0.71	-0.28	0.13	-0.1	RGTI
STRC	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	STRC
RCAT	0.25	0.88	0.76	0.42	0.71	0.0		-0.38	0.41	-0.18	RCAT
SMCI	0.04	-0.4	-0.48	-0.14	-0.28	0.0	-0.38		0.16	0.53	SMCI
CRCT	0.1	0.49	0.3	0.55	0.13	0.0	0.41	0.16		0.0	CRCT
SSYS	-0.17	-0.07	-0.52	0.06	-0.1	0.0	-0.18	0.53	0.0		SSYS
	QBTS	IONQ	QMCO	DM	RGTI	STRC	RCAT	SMCI	CRCT	SSYS

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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

RCAT	+ 0.88	IONQ
RCAT	+ 0.76	QMCO
RGTI	+ 0.75	IONQ
QMCO	+ 0.71	IONQ
RCAT	+ 0.71	RGTI
RGTI	+ 0.68	QMCO

High negative correlations

SSYS	- 0.52	QMCO
SMCI	- 0.48	QMCO
SMCI	- 0.4	IONQ
SMCI	- 0.38	RCAT
SMCI	- 0.28	RGTI
SSYS	- 0.18	RCAT

Risk-Adjusted Indicators

There is a big difference between Quantum Stock performing well and Quantum Computing Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Quantum Computing's multiple risk-adjusted performance indicators across the competitive landscape. 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
QBTS	10.36	1.83	0.15	2.87	10.94	(12.24)	24.53	(18.02)	80.73
IONQ	6.61	0.02	0.00	(0.06)	0.00	0.00	16.99	(13.83)	62.59
QMCO	13.70	2.11	0.16	1.30	11.66	(18.51)	40.09	(16.20)	193.01
DM	4.87	(0.46)	0.00	(0.35)	0.00	0.00	12.64	(10.66)	33.41
RGTI	10.59	1.64	0.12	1.26	12.67	(12.44)	32.03	(15.40)	81.44
STRC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RCAT	6.69	(0.08)	0.00	(0.09)	0.00	0.00	15.04	(11.05)	42.69
SMCI	5.70	0.55	0.08	0.36	6.11	(6.95)	12.23	(11.76)	33.52
CRCT	1.86	(0.08)	0.00	(0.18)	0.00	0.00	4.21	(3.77)	12.14
SSYS	2.49	0.12	0.06	0.10	2.37	(3.24)	6.12	(3.36)	27.38

Quantum Computing Corporate Management

Christopher Boehmler	Chief Officer	Profile
Yong Sua	Chief Officer	Profile
Christopher Roberts	Treasurer Counsel	Profile
William McGann	Chief Officer	Profile
Chris Boehmler	Chief Officer	Profile
Rebel Brown	Vice Marketing	Profile

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