ATER vs QH: Correlation
Measured on weekly returns over the past three years, Aterian, Inc. (ATER) and Quhuo Limited - Class A (QH) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATER and QH?
On 3 years of weekly data the ATER/QH correlation comes out at 0.40, moderate. The link has tightened recently: the 1-year correlation (0.56) runs above the 3-year figure (0.40). The 5-year figure is 0.27, and annualized covariance runs at 49127.8 %².
Few assets follow ATER as closely as QH, which ranks #3 of 10 tracked partners. The last year tells two different stories: QH led by 53.1 percentage points, -61.2% for ATER against -8.1% for QH. Risk is not evenly split, since QH carries 15.0 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.
ATER vs QH: side by side
| ATER (Aterian, Inc.) | QH (Quhuo Limited - Class A) | |
|---|---|---|
| 1-year return | -61.2% | -8.1% |
| 5-year return | -99.5% | -100.0% |
| Volatility (ann.) | 90.5% | 1360.1% |
| Beta vs S&P 500 | 1.58 | 5.77 |
| Max drawdown (3Y) | -94.0% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATER | QH |
|---|---|---|
| 2022 | -81.3% | -98.9% |
| 2023 | -54.7% | +22.5% |
| 2024 | -42.7% | -0.7% |
| 2025 | -71.0% | -99.2% |
| 2026 | -43.6% | +290.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATER and QH good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ATER and QH?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.56 over the last year and 0.27 over 5 years.
Is QH a good diversifier for ATER?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
A reading of 0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ater-vs-qh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ater-vs-qh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ATER correlations · QH correlations
