BAND vs QH: Correlation
How closely do Bandwidth Inc. (BAND) and Quhuo Limited - Class A (QH) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAND and QH?
Across a 3-year window, the weekly returns of BAND and QH correlate at 0.54, moderate. The past 12 months show a tighter link (0.71) than the 3-year average (0.54). Stretching to 5 years gives 0.45, with an annualized covariance of 68958.7 %².
Few assets follow BAND as closely as QH, which ranks #2 of 15 tracked partners. Correlation aside, the last 12 months split them widely, with BAND ahead by 257.3 points (+249.2% versus -8.1%). Risk is not evenly split, since QH carries 14.6 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.
BAND vs QH: side by side
| BAND (Bandwidth Inc.) | QH (Quhuo Limited - Class A) | |
|---|---|---|
| 1-year return | +249.2% | -8.1% |
| 5-year return | -50.5% | -100.0% |
| Volatility (ann.) | 93.1% | 1360.1% |
| Beta vs S&P 500 | 1.91 | 5.77 |
| Max drawdown (3Y) | -52.9% | -100.0% |
| Market cap | $1.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BAND | QH |
|---|---|---|
| 2022 | -68.0% | -98.9% |
| 2023 | -36.9% | +22.5% |
| 2024 | +17.6% | -0.7% |
| 2025 | -9.2% | -99.2% |
| 2026 | +235.6% | +290.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAND and QH good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BAND and QH?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.71 over the last year and 0.45 over 5 years.
Is QH a good diversifier for BAND?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 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/band-vs-qh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/band-vs-qh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BAND correlations · QH correlations
