ALDX vs QQQ: Correlation
Aldeyra Therapeutics, Inc. (ALDX) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALDX and QQQ?
Over the past 3 years, ALDX and QQQ moved with a correlation of 0.38, which is moderate. Little has changed lately, as the 1-year reading of 0.34 lands near the 3-year figure. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 793.3 %².
Out of 13 assets tracked against ALDX, QQQ lands near the bottom at #9. The last year tells two different stories: QQQ led by 100.0 percentage points, -73.7% for ALDX against +26.3% for QQQ. Note the risk asymmetry: ALDX runs 5.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ALDX vs QQQ: side by side
| ALDX (Aldeyra Therapeutics, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -73.7% | +26.3% |
| 5-year return | -83.1% | +95.4% |
| Volatility (ann.) | 107.4% | 19.6% |
| Beta vs S&P 500 | 3.13 | 1.28 |
| Max drawdown (3Y) | -83.8% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | ALDX | QQQ |
|---|---|---|
| 2022 | +74.0% | -32.6% |
| 2023 | -49.6% | +54.9% |
| 2024 | +42.2% | +25.6% |
| 2025 | +3.8% | +20.8% |
| 2026 | -70.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALDX and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALDX and QQQ?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.34 over the last year and 0.32 over 5 years.
Is QQQ a good diversifier for ALDX?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 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.
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Related comparisons
Hubs: ALDX correlations · QQQ correlations
