ALC vs QQQ: Correlation
Measured on weekly returns over the past three years, Alcon Inc. (ALC) and Invesco QQQ Trust (QQQ) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALC and QQQ?
Across a 3-year window, the weekly returns of ALC and QQQ correlate at 0.31, moderate. The past 12 months show a weaker link (0.06) than the 3-year average (0.31). Stretching to 5 years gives 0.45, with an annualized covariance of 159.4 %².
QQQ is close to the least connected end of ALC's tracked universe, ranking #10 of 13. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 37.1 percentage points (-10.8% for ALC against +26.3% for QQQ).
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.
ALC vs QQQ: side by side
| ALC (Alcon Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -10.8% | +26.3% |
| 5-year return | -10.3% | +95.4% |
| Volatility (ann.) | 26.0% | 19.6% |
| Beta vs S&P 500 | 0.77 | 1.28 |
| Max drawdown (3Y) | -37.9% | -22.8% |
| Market cap | $34.9B | – |
| P/E (trailing) | 55.6 | – |
| Dividend yield | 0.49% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | ALC | QQQ |
|---|---|---|
| 2022 | -21.1% | -32.6% |
| 2023 | +14.3% | +54.9% |
| 2024 | +9.0% | +25.6% |
| 2025 | -6.8% | +20.8% |
| 2026 | -7.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALC and QQQ good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALC and QQQ?
As of 2026-08-27, the correlation of weekly returns between ALC and QQQ is 0.31 over 3 years, 0.06 over 1 year and 0.45 over 5 years.
Is QQQ a good diversifier for ALC?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 mean?
A reading of 0.31 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/alc-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alc-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALC correlations · QQQ correlations
