ALLR vs QQQ: Correlation
Allarity Therapeutics, Inc. (ALLR) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.15.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALLR and QQQ?
Over the past 3 years, ALLR and QQQ moved with a correlation of 0.15, which is weak. The link has tightened recently: the 1-year correlation (0.28) runs above the 3-year figure (0.15). Over 5 years the correlation is 0.15, and the annualized covariance of weekly returns is 313.7 %².
Among the 10 assets we track against ALLR, QQQ sits near the bottom by co-movement, at rank #7. The last year tells two different stories: QQQ led by 39.5 percentage points, -13.2% for ALLR against +26.3% for QQQ. Risk is not evenly split, since ALLR carries 5.5 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.
ALLR vs QQQ: side by side
| ALLR (Allarity Therapeutics, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -13.2% | +26.3% |
| 5-year return | -100.0% | +95.4% |
| Volatility (ann.) | 107.8% | 19.6% |
| Beta vs S&P 500 | 1.25 | 1.28 |
| Max drawdown (3Y) | -99.9% | -22.8% |
| Market cap | – | – |
| 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 | ALLR | QQQ |
|---|---|---|
| 2022 | -97.2% | -32.6% |
| 2023 | -99.9% | +54.9% |
| 2024 | -99.6% | +25.6% |
| 2025 | -7.7% | +20.8% |
| 2026 | +27.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALLR and QQQ good diversifiers for each other?
Yes. With a correlation of 0.15, ALLR and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ALLR and QQQ?
As of 2026-08-27, the correlation of weekly returns between ALLR and QQQ is 0.15 over 3 years, 0.28 over 1 year and 0.15 over 5 years.
Is QQQ a good diversifier for ALLR?
Yes. With a correlation of 0.15, ALLR and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.15 mean?
A reading of 0.15 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
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Related comparisons
Hubs: ALLR correlations · QQQ correlations
