QNRX vs. CLSE
QNRX (Quoin Pharmaceuticals Ltd DRC) is a stock, while CLSE (Convergence Long/Short Equity ETF) is Long-Short fund actively managed by Convergence Investment Partners. Over the past 3 years, QNRX returned -71.77%/yr vs 31.07%/yr for CLSE. At a 0.06 correlation, their price movements are largely independent.
Performance
QNRX vs. CLSE - Performance Comparison
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Returns By Period
In the year-to-date period, QNRX achieves a -69.16% return, which is significantly lower than CLSE's 25.03% return.
QNRX
- 1D
- -4.71%
- 1M
- 5.95%
- 6M
- -63.55%
- YTD
- -69.16%
- 1Y
- -49.94%
- 3Y*
- -71.77%
- 5Y*
- -85.77%
- 10Y*
- —
CLSE
- 1D
- 0.47%
- 1M
- -0.12%
- 6M
- 23.18%
- YTD
- 25.03%
- 1Y
- 48.39%
- 3Y*
- 31.07%
- 5Y*
- —
- 10Y*
- —
QNRX vs. CLSE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
QNRX Quoin Pharmaceuticals Ltd DRC | -69.16% | -36.64% | -86.73% | -71.21% | -91.59% |
CLSE Convergence Long/Short Equity ETF | 25.03% | 20.44% | 35.54% | 17.54% | -4.38% |
Correlation
The correlation between QNRX and CLSE is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2022 | 0.06 |
The correlation between QNRX and CLSE shifts across timeframes, from -0.10 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
QNRX vs. CLSE — Risk / Return Rank
QNRX
CLSE
QNRX vs. CLSE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Quoin Pharmaceuticals Ltd DRC (QNRX) and Convergence Long/Short Equity ETF (CLSE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| QNRX | CLSE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.79 | ||
| Sortino ratioReturn per unit of downside risk | -3.99 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.61 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | 9.99 | -10.59 |
| Martin ratioReturn relative to average drawdown | -0.95 | 35.16 | -36.11 |
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Drawdowns
QNRX vs. CLSE - Drawdown Comparison
The maximum QNRX drawdown since its inception was -100.00%, which is greater than CLSE's maximum drawdown of -16.45%. Use the drawdown chart below to compare losses from any high point for QNRX and CLSE.
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Drawdown Indicators
| QNRX | CLSE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -16.45% | -83.55% |
Max Drawdown (1Y)Largest decline over 1 year | -85.43% | -4.85% | -80.58% |
Max Drawdown (3Y)Largest decline over 3 years | -98.98% | -16.45% | -82.53% |
Max Drawdown (5Y)Largest decline over 5 years | -100.00% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -0.81% | -99.19% |
Average DrawdownAverage peak-to-trough decline | -81.62% | -3.54% | -78.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 53.21% | 1.38% | +51.83% |
Volatility
QNRX vs. CLSE - Volatility Comparison
Quoin Pharmaceuticals Ltd DRC (QNRX) has a higher volatility of 43.06% compared to Convergence Long/Short Equity ETF (CLSE) at 3.99%. This indicates that QNRX's price experiences larger fluctuations and is considered to be riskier than CLSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QNRX | CLSE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 43.06% | 3.99% | +39.07% |
Volatility (6M)Calculated over the trailing 6-month period | 70.53% | 10.76% | +59.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 192.90% | 13.75% | +179.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 214.08% | 13.91% | +200.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 172.22% | 13.91% | +158.31% |
Dividends
QNRX vs. CLSE - Dividend Comparison
QNRX has not paid dividends to shareholders, while CLSE's dividend yield for the trailing twelve months is around 0.76%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CLSE Convergence Long/Short Equity ETF | 0.76% | 0.95% | 0.93% | 1.21% | 0.85% |
QNRX Quoin Pharmaceuticals Ltd DRC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QNRX and CLSE have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QNRX has higher volatility (43.06%) compared to CLSE (3.99%). In terms of maximum drawdown, QNRX dropped -100.00% vs CLSE's -16.45%.
CLSE currently has the higher Sharpe Ratio (3.53 vs -0.26), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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