CION vs QRHC: Correlation
Measured on weekly returns over the past three years, CION Investment Corporation (CION) and Quest Resource Holding Corporation (QRHC) 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 CION and QRHC?
Over the past 3 years, CION and QRHC moved with a correlation of 0.40, which is moderate. The link has tightened recently: the 1-year correlation (0.53) runs above the 3-year figure (0.40). Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 661.2 %².
Within CION's tracked universe of 22 assets, QRHC comes in at #17 by 3-year correlation. Neither side won the trailing year by much: -17.7% against -17.2%. One caveat on sizing: QRHC is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CION vs QRHC: side by side
| CION (CION Investment Corporation) | QRHC (Quest Resource Holding Corporation) | |
|---|---|---|
| 1-year return | -17.7% | -17.2% |
| 5-year return | +26.2% | -78.2% |
| Volatility (ann.) | 30.2% | 54.2% |
| Beta vs S&P 500 | 0.86 | 1.21 |
| Max drawdown (3Y) | -40.3% | -91.9% |
| Market cap | $0.4B | – |
| P/E (trailing) | 123.5 | – |
| Dividend yield | 17.98% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CION | QRHC |
|---|---|---|
| 2022 | -14.8% | -12.0% |
| 2023 | +35.4% | +20.0% |
| 2024 | +14.8% | -11.3% |
| 2025 | -2.3% | -71.4% |
| 2026 | -14.6% | -22.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CION and QRHC good diversifiers for each other?
Reasonably. At 0.40, CION and QRHC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CION and QRHC?
The CION/QRHC correlation stands at 0.40 on a 3-year window (1 year: 0.53, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is QRHC a good diversifier for CION?
Reasonably. At 0.40, CION and QRHC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/cion-vs-qrhc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cion-vs-qrhc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CION correlations · QRHC correlations
