QH vs ZBH: Correlation
Measured on weekly returns over the past three years, Quhuo Limited - Class A (QH) and Zimmer Biomet (ZBH) 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 QH and ZBH?
Over the past 3 years, QH and ZBH moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.33) runs below the 3-year figure (-0.21). Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -7030.3 %².
By 3-year correlation, ZBH places #25 of the 40 assets tracked against QH. Neither side won the trailing year by much: -8.1% against -5.9%. Risk is not evenly split, since QH carries 54.6 times the volatility of the other side.
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 ZBH: side by side
| QH (Quhuo Limited - Class A) | ZBH (Zimmer Biomet) | |
|---|---|---|
| 1-year return | -8.1% | -5.9% |
| 5-year return | -100.0% | -28.6% |
| Volatility (ann.) | 1360.1% | 24.9% |
| Beta vs S&P 500 | 5.77 | 0.51 |
| Max drawdown (3Y) | -100.0% | -38.8% |
| Market cap | – | $19.0B |
| P/E (trailing) | – | 24.6 |
| Dividend yield | 0.00% | 0.95% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | QH | ZBH |
|---|---|---|
| 2022 | -98.9% | +4.2% |
| 2023 | +22.5% | -3.8% |
| 2024 | -0.7% | -12.5% |
| 2025 | -99.2% | -14.0% |
| 2026 | +290.7% | +11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QH and ZBH 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 QH and ZBH?
As of 2026-08-27, the correlation of weekly returns between QH and ZBH is -0.21 over 3 years, -0.33 over 1 year and -0.15 over 5 years.
Is ZBH a good diversifier for QH?
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/qh-vs-zbh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qh-vs-zbh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QH correlations · ZBH correlations
