ALNY vs QQQ: Correlation
How closely do Alnylam Pharmaceuticals, Inc. (ALNY) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALNY and QQQ?
On 3 years of weekly data the ALNY/QQQ correlation comes out at 0.27, weak. The relationship has been stable: the 1-year correlation (0.17) sits close to the 3-year figure. The 5-year figure is 0.28, and annualized covariance runs at 256.3 %².
Out of 11 assets tracked against ALNY, QQQ lands near the bottom at #7. Correlation aside, the last 12 months split them widely, with QQQ ahead by 74.2 points (-47.9% versus +26.3%). Note the risk asymmetry: ALNY runs 2.5 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.
ALNY vs QQQ: side by side
| ALNY (Alnylam Pharmaceuticals, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -47.9% | +26.3% |
| 5-year return | +16.2% | +95.4% |
| Volatility (ann.) | 48.5% | 19.6% |
| Beta vs S&P 500 | 0.93 | 1.28 |
| Max drawdown (3Y) | -58.2% | -22.8% |
| Market cap | $31.7B | – |
| P/E (trailing) | 41.6 | – |
| 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 | ALNY | QQQ |
|---|---|---|
| 2022 | +40.1% | -32.6% |
| 2023 | -19.5% | +54.9% |
| 2024 | +22.9% | +25.6% |
| 2025 | +69.0% | +20.8% |
| 2026 | -40.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that QQQ holds ALNY at a 0.14% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are ALNY and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALNY and QQQ?
The ALNY/QQQ correlation stands at 0.27 on a 3-year window (1 year: 0.17, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ALNY?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.27 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: ALNY correlations · QQQ correlations
