BRO vs QH: Correlation
Brown & Brown (BRO) and Quhuo Limited - Class A (QH) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRO and QH?
Across a 3-year window, the weekly returns of BRO and QH correlate at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.39) than the 3-year average (-0.28). Stretching to 5 years gives -0.21, with an annualized covariance of -9376.2 %².
Among the 35 assets we track against BRO, QH sits near the bottom by co-movement, at rank #34. Their recent paths diverged sharply: over the last 12 months QH outperformed by 16.9 percentage points (-25.0% for BRO against -8.1% for QH). Note the risk asymmetry: QH runs 55.7 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.
BRO vs QH: side by side
| BRO (Brown & Brown) | QH (Quhuo Limited - Class A) | |
|---|---|---|
| 1-year return | -25.0% | -8.1% |
| 5-year return | +27.5% | -100.0% |
| Volatility (ann.) | 24.4% | 1360.1% |
| Beta vs S&P 500 | 0.39 | 5.77 |
| Max drawdown (3Y) | -55.8% | -100.0% |
| Market cap | $23.9B | – |
| P/E (trailing) | 23.3 | – |
| Dividend yield | 0.89% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | BRO | QH |
|---|---|---|
| 2022 | -18.4% | -98.9% |
| 2023 | +25.7% | +22.5% |
| 2024 | +44.3% | -0.7% |
| 2025 | -21.4% | -99.2% |
| 2026 | -9.7% | +290.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRO and QH good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between BRO and QH?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.39 over the last year and -0.21 over 5 years.
Is QH a good diversifier for BRO?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 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/bro-vs-qh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bro-vs-qh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BRO correlations · QH correlations
