ATLO vs ZCMD: Correlation
How closely do Ames National Corporation (ATLO) and Zhongchao Inc. - Class A (ZCMD) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATLO and ZCMD?
On 3 years of weekly data the ATLO/ZCMD correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.18 over 1 year against -0.21 over 3. The 5-year figure is -0.20, and annualized covariance runs at -804.4 %².
Out of 11 assets tracked against ATLO, ZCMD lands near the bottom at #9. The last year tells two different stories: ATLO led by 163.4 percentage points, +63.5% for ATLO against -99.9% for ZCMD. Note the risk asymmetry: ZCMD runs 5.4 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.
ATLO vs ZCMD: side by side
| ATLO (Ames National Corporation) | ZCMD (Zhongchao Inc. - Class A) | |
|---|---|---|
| 1-year return | +63.5% | -99.9% |
| 5-year return | +67.0% | -100.0% |
| Volatility (ann.) | 26.4% | 141.8% |
| Beta vs S&P 500 | 0.51 | 0.59 |
| Max drawdown (3Y) | -25.4% | -100.0% |
| Market cap | $0.3B | – |
| P/E (trailing) | 12.1 | – |
| Dividend yield | 2.81% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATLO | ZCMD |
|---|---|---|
| 2022 | +1.0% | -35.4% |
| 2023 | -4.5% | -69.5% |
| 2024 | -19.0% | -53.8% |
| 2025 | +45.7% | -72.2% |
| 2026 | +39.2% | -99.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATLO and ZCMD good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ATLO and ZCMD?
As of 2026-08-27, the correlation of weekly returns between ATLO and ZCMD is -0.21 over 3 years, -0.18 over 1 year and -0.20 over 5 years.
Is ZCMD a good diversifier for ATLO?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/atlo-vs-zcmd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/atlo-vs-zcmd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ATLO correlations · ZCMD correlations
