ARMP vs QH: Correlation
Measured on weekly returns over the past three years, Armata Pharmaceuticals, Inc. (ARMP) and Quhuo Limited - Class A (QH) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARMP and QH?
Across a 3-year window, the weekly returns of ARMP and QH correlate at -0.19, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.29 lands near the 3-year figure. Stretching to 5 years gives -0.12, with an annualized covariance of -25245.9 %².
QH is close to the least connected end of ARMP's tracked universe, ranking #8 of 10. Their recent paths diverged sharply: over the last 12 months ARMP outperformed by 130.6 percentage points (+122.5% for ARMP against -8.1% for QH). Risk is not evenly split, since QH carries 14.3 times the volatility of the other side.
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.
ARMP vs QH: side by side
| ARMP (Armata Pharmaceuticals, Inc.) | QH (Quhuo Limited - Class A) | |
|---|---|---|
| 1-year return | +122.5% | -8.1% |
| 5-year return | +48.0% | -100.0% |
| Volatility (ann.) | 95.4% | 1360.1% |
| Beta vs S&P 500 | 0.63 | 5.77 |
| Max drawdown (3Y) | -78.5% | -100.0% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARMP | QH |
|---|---|---|
| 2022 | -77.4% | -98.9% |
| 2023 | +161.3% | +22.5% |
| 2024 | -42.9% | -0.7% |
| 2025 | +239.5% | -99.2% |
| 2026 | -13.5% | +290.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARMP and QH good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ARMP and QH?
The ARMP/QH correlation stands at -0.19 on a 3-year window (1 year: -0.29, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is QH a good diversifier for ARMP?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 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/armp-vs-qh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/armp-vs-qh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARMP correlations · QH correlations
