LQD vs ZCMD: Correlation
Measured on weekly returns over the past three years, iShares iBoxx Investment Grade Corporate Bond ETF (LQD) and Zhongchao Inc. - Class A (ZCMD) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LQD and ZCMD?
Over the past 3 years, LQD and ZCMD moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.15) sits close to the 3-year figure. Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -229.1 %².
By 3-year correlation, ZCMD places #28 of the 33 assets tracked against LQD. The last year tells two different stories: LQD led by 101.4 percentage points, +1.5% for LQD against -99.9% for ZCMD. One caveat on sizing: ZCMD is 19.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
LQD vs ZCMD: side by side
| LQD (iShares iBoxx Investment Grade Corporate Bond ETF) | ZCMD (Zhongchao Inc. - Class A) | |
|---|---|---|
| 1-year return | +1.5% | -99.9% |
| 5-year return | -4.1% | -100.0% |
| Volatility (ann.) | 7.3% | 141.8% |
| Beta vs S&P 500 | 0.15 | 0.59 |
| Max drawdown (3Y) | -6.7% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 4.66% | 0.00% |
| Expense ratio | 0.14% | – |
| Assets under management | $33.0B | – |
| Sector / category | ETF · Bonds | US Listed |
LQD is a Corporate Bond fund from iShares: $33.0B under management, a 0.14% expense ratio, a 4.66% trailing dividend yield.
Year-by-year returns
| Year | LQD | ZCMD |
|---|---|---|
| 2022 | -17.9% | -35.4% |
| 2023 | +9.4% | -69.5% |
| 2024 | +0.9% | -53.8% |
| 2025 | +7.9% | -72.2% |
| 2026 | -0.5% | -99.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LQD and ZCMD good diversifiers for each other?
Yes. With a correlation of -0.22, LQD and ZCMD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LQD and ZCMD?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.15 over the last year and -0.11 over 5 years.
Is ZCMD a good diversifier for LQD?
Yes. With a correlation of -0.22, LQD and ZCMD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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/lqd-vs-zcmd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lqd-vs-zcmd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LQD correlations · ZCMD correlations
