ALT vs QQQ: Correlation
Altimmune, Inc. (ALT) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALT and QQQ?
On 3 years of weekly data the ALT/QQQ correlation comes out at 0.25, weak. The relationship has been stable: the 1-year correlation (0.27) sits close to the 3-year figure. The 5-year figure is 0.16, and annualized covariance runs at 465.2 %².
QQQ is close to the least connected end of ALT's tracked universe, ranking #10 of 13. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 38.0 percentage points (-11.7% for ALT against +26.3% for QQQ). One caveat on sizing: ALT is 4.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ALT vs QQQ: side by side
| ALT (Altimmune, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -11.7% | +26.3% |
| 5-year return | -77.0% | +95.4% |
| Volatility (ann.) | 94.4% | 19.6% |
| Beta vs S&P 500 | 1.91 | 1.28 |
| Max drawdown (3Y) | -81.2% | -22.8% |
| Market cap | $0.6B | – |
| 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 | ALT | QQQ |
|---|---|---|
| 2022 | +79.6% | -32.6% |
| 2023 | -31.6% | +54.9% |
| 2024 | -35.9% | +25.6% |
| 2025 | -49.9% | +20.8% |
| 2026 | -10.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALT and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALT and QQQ?
Using weekly returns as of 2026-08-27: 0.25 over 3 years, with 0.27 over the last year and 0.16 over 5 years.
Is QQQ a good diversifier for ALT?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.25 mean?
A reading of 0.25 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/alt-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alt-vs-qqq/)
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Related comparisons
Hubs: ALT correlations · QQQ correlations
