MRAM vs QH: Correlation
How closely do Everspin Technologies, Inc. (MRAM) and Quhuo Limited - Class A (QH) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRAM and QH?
Over the past 3 years, MRAM and QH moved with a correlation of 0.45, which is moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 42637.2 %².
Few assets follow MRAM as closely as QH, which ranks #2 of 22 tracked partners. Their recent paths diverged sharply: over the last 12 months MRAM outperformed by 181.3 percentage points (+173.2% for MRAM against -8.1% for QH). Note the risk asymmetry: QH runs 19.6 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.
MRAM vs QH: side by side
| MRAM (Everspin Technologies, Inc.) | QH (Quhuo Limited - Class A) | |
|---|---|---|
| 1-year return | +173.2% | -8.1% |
| 5-year return | +134.7% | -100.0% |
| Volatility (ann.) | 69.5% | 1360.1% |
| Beta vs S&P 500 | 1.58 | 5.77 |
| Max drawdown (3Y) | -70.6% | -100.0% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MRAM | QH |
|---|---|---|
| 2022 | -50.8% | -98.9% |
| 2023 | +62.6% | +22.5% |
| 2024 | -29.3% | -0.7% |
| 2025 | +45.2% | -99.2% |
| 2026 | +88.1% | +290.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRAM and QH good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MRAM and QH?
As of 2026-08-27, the correlation of weekly returns between MRAM and QH is 0.45 over 3 years, 0.49 over 1 year and 0.34 over 5 years.
Is QH a good diversifier for MRAM?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 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/mram-vs-qh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mram-vs-qh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MRAM correlations · QH correlations
