ALGN vs QQQ: Correlation
Measured on weekly returns over the past three years, Align Technology (ALGN) and Invesco QQQ Trust (QQQ) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGN and QQQ?
On 3 years of weekly data the ALGN/QQQ correlation comes out at 0.42, moderate. Little has changed lately, as the 1-year reading of 0.32 lands near the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 366.8 %².
Among the 37 assets we track against ALGN, QQQ ranks #22 by 3-year correlation. On 12-month performance QQQ holds a 14.4-point edge, +11.9% against +26.3%. On a rolling one-year basis the correlation drifted between 0.28 and 0.63, a moderate band. Risk is not evenly split, since ALGN carries 2.3 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.
ALGN vs QQQ: side by side
| ALGN (Align Technology) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +11.9% | +26.3% |
| 5-year return | -77.4% | +95.4% |
| Volatility (ann.) | 44.3% | 19.6% |
| Beta vs S&P 500 | 1.51 | 1.28 |
| Max drawdown (3Y) | -66.7% | -22.8% |
| Market cap | $11.3B | – |
| P/E (trailing) | 27.6 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Health Care | 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 | ALGN | QQQ |
|---|---|---|
| 2022 | -67.9% | -32.6% |
| 2023 | +29.9% | +54.9% |
| 2024 | -23.9% | +25.6% |
| 2025 | -25.1% | +20.8% |
| 2026 | +1.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGN and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALGN and QQQ?
The ALGN/QQQ correlation stands at 0.42 on a 3-year window (1 year: 0.32, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ALGN?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ALGN correlations · QQQ correlations
