INDP vs ZCMD: Correlation
Measured on weekly returns over the past three years, Indaptus Therapeutics, Inc. (INDP) and Zhongchao Inc. - Class A (ZCMD) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDP and ZCMD?
On 3 years of weekly data the INDP/ZCMD correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.34 over 1 year against -0.29 over 3. The 5-year figure is -0.21, and annualized covariance runs at -4990.0 %².
Among the 13 assets we track against INDP, ZCMD sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with INDP ahead by 18.0 points (-81.9% versus -99.9%).
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.
INDP vs ZCMD: side by side
| INDP (Indaptus Therapeutics, Inc.) | ZCMD (Zhongchao Inc. - Class A) | |
|---|---|---|
| 1-year return | -81.9% | -99.9% |
| 5-year return | -99.6% | -100.0% |
| Volatility (ann.) | 123.5% | 141.8% |
| Beta vs S&P 500 | 1.78 | 0.59 |
| Max drawdown (3Y) | -99.2% | -100.0% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INDP | ZCMD |
|---|---|---|
| 2022 | -74.6% | -35.4% |
| 2023 | +21.4% | -69.5% |
| 2024 | -52.2% | -53.8% |
| 2025 | -87.7% | -72.2% |
| 2026 | -60.1% | -99.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDP and ZCMD good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between INDP and ZCMD?
The INDP/ZCMD correlation stands at -0.29 on a 3-year window (1 year: -0.34, 5 years: -0.21), computed from weekly returns as of 2026-08-27.
Is ZCMD a good diversifier for INDP?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
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/indp-vs-zcmd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/indp-vs-zcmd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: INDP correlations · ZCMD correlations
