AMT vs ZCMD: Correlation
How closely do American Tower (AMT) and Zhongchao Inc. - Class A (ZCMD) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMT and ZCMD?
On 3 years of weekly data the AMT/ZCMD correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.10) sits close to the 3-year figure. The 5-year figure is -0.13, and annualized covariance runs at -662.1 %².
ZCMD is close to the least connected end of AMT's tracked universe, ranking #26 of 30. Correlation aside, the last 12 months split them widely, with AMT ahead by 88.9 points (-11.0% versus -99.9%). Note the risk asymmetry: ZCMD runs 5.2 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.
AMT vs ZCMD: side by side
| AMT (American Tower) | ZCMD (Zhongchao Inc. - Class A) | |
|---|---|---|
| 1-year return | -11.0% | -99.9% |
| 5-year return | -30.2% | -100.0% |
| Volatility (ann.) | 27.1% | 141.8% |
| Beta vs S&P 500 | 0.18 | 0.59 |
| Max drawdown (3Y) | -28.4% | -100.0% |
| Market cap | $81.2B | – |
| P/E (trailing) | 24.2 | – |
| Dividend yield | 3.97% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | AMT | ZCMD |
|---|---|---|
| 2022 | -25.7% | -35.4% |
| 2023 | +5.4% | -69.5% |
| 2024 | -12.2% | -53.8% |
| 2025 | -0.9% | -72.2% |
| 2026 | +1.1% | -99.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMT and ZCMD good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between AMT and ZCMD?
As of 2026-08-27, the correlation of weekly returns between AMT and ZCMD is -0.17 over 3 years, -0.10 over 1 year and -0.13 over 5 years.
Is ZCMD a good diversifier for AMT?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amt-vs-zcmd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amt-vs-zcmd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMT correlations · ZCMD correlations
