INVH vs ZCMD: Correlation
Invitation Homes (INVH) and Zhongchao Inc. - Class A (ZCMD) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INVH and ZCMD?
Across a 3-year window, the weekly returns of INVH and ZCMD correlate at -0.19, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.25 over 1 year against -0.19 over 3. Stretching to 5 years gives -0.14, with an annualized covariance of -574.5 %².
Within INVH's tracked universe of 28 assets, ZCMD comes in at #23 by 3-year correlation. Correlation aside, the last 12 months split them widely, with INVH ahead by 98.0 points (-1.9% versus -99.9%). Note the risk asymmetry: ZCMD runs 6.7 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.
INVH vs ZCMD: side by side
| INVH (Invitation Homes) | ZCMD (Zhongchao Inc. - Class A) | |
|---|---|---|
| 1-year return | -1.9% | -99.9% |
| 5-year return | -16.8% | -100.0% |
| Volatility (ann.) | 21.2% | 141.8% |
| Beta vs S&P 500 | 0.50 | 0.59 |
| Max drawdown (3Y) | -30.9% | -100.0% |
| Market cap | $17.4B | – |
| P/E (trailing) | 27.3 | – |
| Dividend yield | 3.98% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | INVH | ZCMD |
|---|---|---|
| 2022 | -33.0% | -35.4% |
| 2023 | +19.7% | -69.5% |
| 2024 | -3.1% | -53.8% |
| 2025 | -9.7% | -72.2% |
| 2026 | +7.6% | -99.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INVH and ZCMD good diversifiers for each other?
Yes. With a correlation of -0.19, INVH and ZCMD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between INVH and ZCMD?
The INVH/ZCMD correlation stands at -0.19 on a 3-year window (1 year: -0.25, 5 years: -0.14), computed from weekly returns as of 2026-08-27.
Is ZCMD a good diversifier for INVH?
Yes. With a correlation of -0.19, INVH and ZCMD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
A reading of -0.19 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/invh-vs-zcmd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/invh-vs-zcmd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: INVH correlations · ZCMD correlations
