BKHA vs QH: Correlation
Measured on weekly returns over the past three years, Black Hawk Acquisition Corporation - Class A (BKHA) and Quhuo Limited - Class A (QH) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKHA and QH?
On 3 years of weekly data the BKHA/QH correlation comes out at 0.34, moderate. Little has changed lately, as the 1-year reading of 0.38 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 3100.9 %².
Few assets follow BKHA as closely as QH, which ranks #3 of 10 tracked partners. Correlation aside, the last 12 months split them widely, with BKHA ahead by 16.1 points (+8.0% versus -8.1%). Note the risk asymmetry: QH runs 230.5 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.
BKHA vs QH: side by side
| BKHA (Black Hawk Acquisition Corporation - Class A) | QH (Quhuo Limited - Class A) | |
|---|---|---|
| 1-year return | +8.0% | -8.1% |
| 5-year return | n/a | -100.0% |
| Volatility (ann.) | 5.9% | 1360.1% |
| Beta vs S&P 500 | 0.02 | 5.77 |
| Max drawdown (3Y) | -10.1% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | 99.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BKHA | QH |
|---|---|---|
| 2022 | – | -98.9% |
| 2023 | – | +22.5% |
| 2024 | – | -0.7% |
| 2025 | +8.4% | -99.2% |
| 2026 | +5.6% | +290.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKHA and QH good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BKHA and QH?
The BKHA/QH correlation stands at 0.34 on a 3-year window (1 year: 0.38, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is QH a good diversifier for BKHA?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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/bkha-vs-qh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bkha-vs-qh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BKHA correlations · QH correlations
