ALLO vs QQQ: Correlation
Measured on weekly returns over the past three years, Allogene Therapeutics, Inc. (ALLO) and Invesco QQQ Trust (QQQ) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALLO and QQQ?
On 3 years of weekly data the ALLO/QQQ correlation comes out at 0.28, weak. The relationship has been stable: the 1-year correlation (0.28) sits close to the 3-year figure. The 5-year figure is 0.32, and annualized covariance runs at 453.1 %².
QQQ is close to the least connected end of ALLO's tracked universe, ranking #18 of 21. The last year tells two different stories: ALLO led by 53.9 percentage points, +80.2% for ALLO against +26.3% for QQQ. Note the risk asymmetry: ALLO runs 4.2 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.
ALLO vs QQQ: side by side
| ALLO (Allogene Therapeutics, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +80.2% | +26.3% |
| 5-year return | -91.3% | +95.4% |
| Volatility (ann.) | 83.3% | 19.6% |
| Beta vs S&P 500 | 1.96 | 1.28 |
| Max drawdown (3Y) | -83.1% | -22.8% |
| Market cap | $0.7B | – |
| 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 | ALLO | QQQ |
|---|---|---|
| 2022 | -57.8% | -32.6% |
| 2023 | -49.0% | +54.9% |
| 2024 | -33.6% | +25.6% |
| 2025 | -35.7% | +20.8% |
| 2026 | +52.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALLO and QQQ good diversifiers for each other?
Reasonably. At 0.28, ALLO and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ALLO and QQQ?
The ALLO/QQQ correlation stands at 0.28 on a 3-year window (1 year: 0.28, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ALLO?
Reasonably. At 0.28, ALLO and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
A reading of 0.28 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/allo-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/allo-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALLO correlations · QQQ correlations
