AMLX vs QQQ: Correlation
Amylyx Pharmaceuticals, Inc. (AMLX) 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 AMLX and QQQ?
On 3 years of weekly data the AMLX/QQQ correlation comes out at 0.15, weak. Lately the two have drifted apart, with the 1-year correlation at -0.01 versus 0.15 over 3 years. The 5-year figure is 0.15, and annualized covariance runs at 281.8 %².
Within AMLX's tracked universe of 17 assets, QQQ comes in at #12 by 3-year correlation. The last year tells two different stories: AMLX led by 267.1 percentage points, +293.4% for AMLX against +26.3% for QQQ. Note the risk asymmetry: AMLX runs 5.0 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.
AMLX vs QQQ: side by side
| AMLX (Amylyx Pharmaceuticals, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +293.4% | +26.3% |
| 5-year return | +105.8% | +95.4% |
| Volatility (ann.) | 97.8% | 19.6% |
| Beta vs S&P 500 | 1.29 | 1.28 |
| Max drawdown (3Y) | -92.6% | -22.8% |
| Market cap | $4.1B | – |
| 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 | AMLX | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | -60.2% | +54.9% |
| 2024 | -74.3% | +25.6% |
| 2025 | +219.6% | +20.8% |
| 2026 | +207.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMLX and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between AMLX and QQQ?
As of 2026-08-27, the correlation of weekly returns between AMLX and QQQ is 0.15 over 3 years, -0.01 over 1 year and 0.15 over 5 years.
Is QQQ a good diversifier for AMLX?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
What does a correlation of 0.15 mean?
On the −1 to +1 scale, 0.15 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amlx-vs-qqq/)
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Related comparisons
Hubs: AMLX correlations · QQQ correlations
