AMS vs QH: Correlation
Measured on weekly returns over the past three years, American Shared Hospital Services (AMS) and Quhuo Limited - Class A (QH) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMS and QH?
Over the past 3 years, AMS and QH moved with a correlation of 0.37, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.37 over 3. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 23509.5 %².
Few assets follow AMS as closely as QH, which ranks #2 of 11 tracked partners. The last year tells two different stories: QH led by 32.6 percentage points, -40.7% for AMS against -8.1% for QH. Note the risk asymmetry: QH runs 29.2 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.
AMS vs QH: side by side
| AMS (American Shared Hospital Services) | QH (Quhuo Limited - Class A) | |
|---|---|---|
| 1-year return | -40.7% | -8.1% |
| 5-year return | -45.7% | -100.0% |
| Volatility (ann.) | 46.6% | 1360.1% |
| Beta vs S&P 500 | 0.34 | 5.77 |
| Max drawdown (3Y) | -64.2% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMS | QH |
|---|---|---|
| 2022 | +23.6% | -98.9% |
| 2023 | -18.8% | +22.5% |
| 2024 | +34.0% | -0.7% |
| 2025 | -33.9% | -99.2% |
| 2026 | -30.8% | +290.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMS and QH good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AMS and QH?
As of 2026-08-27, the correlation of weekly returns between AMS and QH is 0.37 over 3 years, 0.46 over 1 year and 0.32 over 5 years.
Is QH a good diversifier for AMS?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ams-vs-qh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ams-vs-qh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMS correlations · QH correlations
