ERAS vs QH: Correlation
Erasca, Inc. (ERAS) and Quhuo Limited - Class A (QH) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERAS and QH?
Over the past 3 years, ERAS and QH moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.48 versus -0.29 over 3 years. Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -39410.1 %².
Among the 14 assets we track against ERAS, QH sits near the bottom by co-movement, at rank #14. Correlation aside, the last 12 months split them widely, with ERAS ahead by 1141.6 points (+1133.5% versus -8.1%). Note the risk asymmetry: QH runs 13.7 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.
ERAS vs QH: side by side
| ERAS (Erasca, Inc.) | QH (Quhuo Limited - Class A) | |
|---|---|---|
| 1-year return | +1133.5% | -8.1% |
| 5-year return | -17.1% | -100.0% |
| Volatility (ann.) | 99.2% | 1360.1% |
| Beta vs S&P 500 | 1.88 | 5.77 |
| Max drawdown (3Y) | -67.7% | -100.0% |
| Market cap | $6.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ERAS | QH |
|---|---|---|
| 2022 | -72.3% | -98.9% |
| 2023 | -50.6% | +22.5% |
| 2024 | +17.8% | -0.7% |
| 2025 | +48.2% | -99.2% |
| 2026 | +423.9% | +290.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERAS and QH good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between ERAS and QH?
The ERAS/QH correlation stands at -0.29 on a 3-year window (1 year: -0.48, 5 years: -0.24), computed from weekly returns as of 2026-08-27.
Is QH a good diversifier for ERAS?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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/eras-vs-qh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eras-vs-qh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ERAS correlations · QH correlations
