QS vs SY: Correlation
Measured on weekly returns over the past three years, QuantumScape Corporation (QS) and So-Young International Inc. - American Depository Shares (SY) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QS and SY?
Over the past 3 years, QS and SY moved with a correlation of 0.37, which is moderate. The past 12 months show a weaker link (-0.04) than the 3-year average (0.37). Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 3352.4 %².
Among the 18 assets we track against QS, SY ranks #11 by 3-year correlation. On 12-month performance QS holds a 14.4-point edge, -26.6% against -41.0%.
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.
QS vs SY: side by side
| QS (QuantumScape Corporation) | SY (So-Young International Inc. - American Depository Shares) | |
|---|---|---|
| 1-year return | -26.6% | -41.0% |
| 5-year return | -72.4% | -54.5% |
| Volatility (ann.) | 90.7% | 99.6% |
| Beta vs S&P 500 | 2.17 | 1.08 |
| Max drawdown (3Y) | -73.5% | -77.5% |
| Market cap | $3.6B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | QS | SY |
|---|---|---|
| 2022 | -74.4% | -59.6% |
| 2023 | +22.6% | +0.0% |
| 2024 | -25.3% | -32.1% |
| 2025 | +100.8% | +219.0% |
| 2026 | -43.4% | -9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QS and SY good diversifiers for each other?
Reasonably. At 0.37, QS and SY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QS and SY?
The QS/SY correlation stands at 0.37 on a 3-year window (1 year: -0.04, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is SY a good diversifier for QS?
Reasonably. At 0.37, QS and SY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 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/qs-vs-sy.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qs-vs-sy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QS correlations · SY correlations
