IDCC vs QH: Correlation
How closely do InterDigital, Inc. (IDCC) and Quhuo Limited - Class A (QH) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDCC and QH?
On 3 years of weekly data the IDCC/QH correlation comes out at -0.32, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.44 versus -0.32 over 3 years. The 5-year figure is -0.25, and annualized covariance runs at -16929.3 %².
Among the 11 assets we track against IDCC, QH sits near the bottom by co-movement, at rank #11. Their recent paths diverged sharply: over the last 12 months IDCC outperformed by 33.3 percentage points (+25.2% for IDCC against -8.1% for QH). Note the risk asymmetry: QH runs 35.0 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.
IDCC vs QH: side by side
| IDCC (InterDigital, Inc.) | QH (Quhuo Limited - Class A) | |
|---|---|---|
| 1-year return | +25.2% | -8.1% |
| 5-year return | +406.1% | -100.0% |
| Volatility (ann.) | 38.9% | 1360.1% |
| Beta vs S&P 500 | 0.92 | 5.77 |
| Max drawdown (3Y) | -36.5% | -100.0% |
| Market cap | $8.6B | – |
| P/E (trailing) | 39.4 | – |
| Dividend yield | 0.81% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IDCC | QH |
|---|---|---|
| 2022 | -29.3% | -98.9% |
| 2023 | +123.7% | +22.5% |
| 2024 | +81.1% | -0.7% |
| 2025 | +66.0% | -99.2% |
| 2026 | +5.8% | +290.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDCC and QH good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IDCC and QH?
The IDCC/QH correlation stands at -0.32 on a 3-year window (1 year: -0.44, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is QH a good diversifier for IDCC?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 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/idcc-vs-qh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/idcc-vs-qh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IDCC correlations · QH correlations
