UTMD vs ZCMD: Correlation
Measured on weekly returns over the past three years, Utah Medical Products, Inc. (UTMD) and Zhongchao Inc. - Class A (ZCMD) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UTMD and ZCMD?
Across a 3-year window, the weekly returns of UTMD and ZCMD correlate at -0.25, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.33) sits close to the 3-year figure. Stretching to 5 years gives -0.13, with an annualized covariance of -796.5 %².
Out of 10 assets tracked against UTMD, ZCMD lands near the bottom at #8. The last year tells two different stories: UTMD led by 119.7 percentage points, +19.8% for UTMD against -99.9% for ZCMD. Risk is not evenly split, since ZCMD carries 6.4 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.
UTMD vs ZCMD: side by side
| UTMD (Utah Medical Products, Inc.) | ZCMD (Zhongchao Inc. - Class A) | |
|---|---|---|
| 1-year return | +19.8% | -99.9% |
| 5-year return | -11.0% | -100.0% |
| Volatility (ann.) | 22.1% | 141.8% |
| Beta vs S&P 500 | 0.50 | 0.59 |
| Max drawdown (3Y) | -42.5% | -100.0% |
| Market cap | $0.2B | – |
| P/E (trailing) | 21.6 | – |
| Dividend yield | 1.74% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | UTMD | ZCMD |
|---|---|---|
| 2022 | +1.9% | -35.4% |
| 2023 | -15.1% | -69.5% |
| 2024 | -25.7% | -53.8% |
| 2025 | -7.0% | -72.2% |
| 2026 | +29.5% | -99.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UTMD and ZCMD good diversifiers for each other?
Yes. With a correlation of -0.25, UTMD and ZCMD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between UTMD and ZCMD?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.33 over the last year and -0.13 over 5 years.
Is ZCMD a good diversifier for UTMD?
Yes. With a correlation of -0.25, UTMD and ZCMD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
A reading of -0.25 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/utmd-vs-zcmd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/utmd-vs-zcmd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: UTMD correlations · ZCMD correlations
