ESS vs ZCMD: Correlation
Essex Property Trust (ESS) and Zhongchao Inc. - Class A (ZCMD) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESS and ZCMD?
On 3 years of weekly data the ESS/ZCMD correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.21 lands near the 3-year figure. The 5-year figure is -0.14, and annualized covariance runs at -580.5 %².
Among the 31 assets we track against ESS, ZCMD ranks #23 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ESS ahead by 109.0 points (+9.1% versus -99.9%). Risk is not evenly split, since ZCMD carries 6.4 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.
ESS vs ZCMD: side by side
| ESS (Essex Property Trust) | ZCMD (Zhongchao Inc. - Class A) | |
|---|---|---|
| 1-year return | +9.1% | -99.9% |
| 5-year return | +3.0% | -100.0% |
| Volatility (ann.) | 22.2% | 141.8% |
| Beta vs S&P 500 | 0.64 | 0.59 |
| Max drawdown (3Y) | -20.8% | -100.0% |
| Market cap | $19.4B | – |
| P/E (trailing) | 44.8 | – |
| Dividend yield | 3.58% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | ESS | ZCMD |
|---|---|---|
| 2022 | -37.8% | -35.4% |
| 2023 | +22.0% | -69.5% |
| 2024 | +18.4% | -53.8% |
| 2025 | -5.0% | -72.2% |
| 2026 | +10.5% | -99.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESS and ZCMD good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ESS and ZCMD?
The ESS/ZCMD correlation stands at -0.18 on a 3-year window (1 year: -0.21, 5 years: -0.14), computed from weekly returns as of 2026-08-27.
Is ZCMD a good diversifier for ESS?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 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/ess-vs-zcmd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ess-vs-zcmd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ESS correlations · ZCMD correlations
