ANIK vs QQQ: Correlation
How closely do Anika Therapeutics Inc. (ANIK) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.18, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANIK and QQQ?
Across a 3-year window, the weekly returns of ANIK and QQQ correlate at 0.18, weak. The link has loosened recently: the 1-year correlation (0.05) runs below the 3-year figure (0.18). Stretching to 5 years gives 0.26, with an annualized covariance of 163.2 %².
Out of 11 assets tracked against ANIK, QQQ lands near the bottom at #8. Their recent paths diverged sharply: over the last 12 months ANIK outperformed by 100.7 percentage points (+127.0% for ANIK against +26.3% for QQQ). Note the risk asymmetry: ANIK runs 2.4 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.
ANIK vs QQQ: side by side
| ANIK (Anika Therapeutics Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +127.0% | +26.3% |
| 5-year return | -51.5% | +95.4% |
| Volatility (ann.) | 46.8% | 19.6% |
| Beta vs S&P 500 | 0.89 | 1.28 |
| Max drawdown (3Y) | -71.8% | -22.8% |
| Market cap | $0.3B | – |
| 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 | ANIK | QQQ |
|---|---|---|
| 2022 | -17.4% | -32.6% |
| 2023 | -23.4% | +54.9% |
| 2024 | -27.4% | +25.6% |
| 2025 | -41.6% | +20.8% |
| 2026 | +116.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANIK and QQQ good diversifiers for each other?
Yes: at 0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ANIK and QQQ?
The ANIK/QQQ correlation stands at 0.18 on a 3-year window (1 year: 0.05, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ANIK?
Yes: at 0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.18 mean?
A reading of 0.18 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/anik-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/anik-vs-qqq/)
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Related comparisons
Hubs: ANIK correlations · QQQ correlations
