QH vs WTW: Correlation
Quhuo Limited - Class A (QH) and Willis Towers Watson (WTW) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QH and WTW?
Across a 3-year window, the weekly returns of QH and WTW correlate at -0.27, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.37 over 1 year against -0.27 over 3. Stretching to 5 years gives -0.21, with an annualized covariance of -8768.8 %².
By 3-year correlation, WTW places #31 of the 40 assets tracked against QH. On 12-month performance WTW holds a 12.3-point edge, -8.1% against +4.2%. One caveat on sizing: QH is 57.9 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.
QH vs WTW: side by side
| QH (Quhuo Limited - Class A) | WTW (Willis Towers Watson) | |
|---|---|---|
| 1-year return | -8.1% | +4.2% |
| 5-year return | -100.0% | +68.3% |
| Volatility (ann.) | 1360.1% | 23.5% |
| Beta vs S&P 500 | 5.77 | 0.32 |
| Max drawdown (3Y) | -100.0% | -30.4% |
| Market cap | – | $31.5B |
| P/E (trailing) | – | 21.2 |
| Dividend yield | 0.00% | 0.55% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | QH | WTW |
|---|---|---|
| 2022 | -98.9% | +4.5% |
| 2023 | +22.5% | +0.1% |
| 2024 | -0.7% | +31.5% |
| 2025 | -99.2% | +6.1% |
| 2026 | +290.7% | +4.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QH and WTW good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QH and WTW?
The QH/WTW correlation stands at -0.27 on a 3-year window (1 year: -0.37, 5 years: -0.21), computed from weekly returns as of 2026-08-27.
Is WTW a good diversifier for QH?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 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/qh-vs-wtw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qh-vs-wtw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QH correlations · WTW correlations
