DGX vs ZCMD: Correlation
Measured on weekly returns over the past three years, Quest Diagnostics (DGX) and Zhongchao Inc. - Class A (ZCMD) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGX and ZCMD?
Over the past 3 years, DGX and ZCMD moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.29) sits close to the 3-year figure. Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -641.4 %².
Out of 32 assets tracked against DGX, ZCMD lands near the bottom at #32. The last year tells two different stories: DGX led by 138.4 percentage points, +38.5% for DGX against -99.9% for ZCMD. Risk is not evenly split, since ZCMD carries 7.4 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.
DGX vs ZCMD: side by side
| DGX (Quest Diagnostics) | ZCMD (Zhongchao Inc. - Class A) | |
|---|---|---|
| 1-year return | +38.5% | -99.9% |
| 5-year return | +78.8% | -100.0% |
| Volatility (ann.) | 19.1% | 141.8% |
| Beta vs S&P 500 | 0.09 | 0.59 |
| Max drawdown (3Y) | -12.4% | -100.0% |
| Market cap | $27.0B | – |
| P/E (trailing) | 26.0 | – |
| Dividend yield | 1.36% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | DGX | ZCMD |
|---|---|---|
| 2022 | -7.8% | -35.4% |
| 2023 | -10.1% | -69.5% |
| 2024 | +11.8% | -53.8% |
| 2025 | +17.2% | -72.2% |
| 2026 | +42.8% | -99.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGX and ZCMD good diversifiers for each other?
Yes. With a correlation of -0.24, DGX and ZCMD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DGX and ZCMD?
The DGX/ZCMD correlation stands at -0.24 on a 3-year window (1 year: -0.29, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is ZCMD a good diversifier for DGX?
Yes. With a correlation of -0.24, DGX and ZCMD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dgx-vs-zcmd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgx-vs-zcmd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGX correlations · ZCMD correlations
