PH vs QH: Correlation
Measured on weekly returns over the past three years, Parker Hannifin (PH) and Quhuo Limited - Class A (QH) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PH and QH?
Over the past 3 years, PH and QH moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.40 versus -0.21 over 3 years. Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -7651.1 %².
Out of 57 assets tracked against PH, QH lands near the bottom at #53. Correlation aside, the last 12 months split them widely, with PH ahead by 40.9 points (+32.8% versus -8.1%). Note the risk asymmetry: QH runs 51.1 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.
PH vs QH: side by side
| PH (Parker Hannifin) | QH (Quhuo Limited - Class A) | |
|---|---|---|
| 1-year return | +32.8% | -8.1% |
| 5-year return | +256.4% | -100.0% |
| Volatility (ann.) | 26.6% | 1360.1% |
| Beta vs S&P 500 | 1.16 | 5.77 |
| Max drawdown (3Y) | -26.8% | -100.0% |
| Market cap | $127.5B | – |
| P/E (trailing) | 36.5 | – |
| Dividend yield | 0.71% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | PH | QH |
|---|---|---|
| 2022 | -6.9% | -98.9% |
| 2023 | +60.8% | +22.5% |
| 2024 | +39.6% | -0.7% |
| 2025 | +39.5% | -99.2% |
| 2026 | +15.5% | +290.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PH and QH good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PH and QH?
As of 2026-08-27, the correlation of weekly returns between PH and QH is -0.21 over 3 years, -0.40 over 1 year and -0.15 over 5 years.
Is QH a good diversifier for PH?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
A reading of -0.21 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/ph-vs-qh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ph-vs-qh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PH correlations · QH correlations
