MRDN vs QH: Correlation
How closely do Meridian Holdings Inc. (MRDN) and Quhuo Limited - Class A (QH) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRDN and QH?
On 3 years of weekly data the MRDN/QH correlation comes out at 0.46, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.64 versus 0.46 over 3 years. The 5-year figure is 0.38, and annualized covariance runs at 56484.6 %².
In MRDN's tracked universe of 11 assets, QH sits right near the top at #1. Twelve-month performance is nearly a tie, at -9.6% for MRDN and -8.1% for QH. One caveat on sizing: QH is 15.1 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.
MRDN vs QH: side by side
| MRDN (Meridian Holdings Inc.) | QH (Quhuo Limited - Class A) | |
|---|---|---|
| 1-year return | -9.6% | -8.1% |
| 5-year return | -82.1% | -100.0% |
| Volatility (ann.) | 89.9% | 1360.1% |
| Beta vs S&P 500 | 0.53 | 5.77 |
| Max drawdown (3Y) | -91.7% | -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 | MRDN | QH |
|---|---|---|
| 2022 | -60.4% | -98.9% |
| 2023 | -5.1% | +22.5% |
| 2024 | -17.8% | -0.7% |
| 2025 | -59.5% | -99.2% |
| 2026 | +45.7% | +290.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRDN and QH good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MRDN and QH?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.64 over the last year and 0.38 over 5 years.
Is QH a good diversifier for MRDN?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 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/mrdn-vs-qh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mrdn-vs-qh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MRDN correlations · QH correlations
