ARDT vs QQQ: Correlation
Ardent Health, Inc. (ARDT) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.13.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARDT and QQQ?
On 3 years of weekly data the ARDT/QQQ correlation comes out at 0.13, weak. The relationship has been stable: the 1-year correlation (0.11) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 127.9 %².
Among the 22 assets we track against ARDT, QQQ ranks #8 by 3-year correlation. The last year tells two different stories: QQQ led by 39.8 percentage points, -13.5% for ARDT against +26.3% for QQQ. Note the risk asymmetry: ARDT 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.
ARDT vs QQQ: side by side
| ARDT (Ardent Health, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -13.5% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 48.5% | 19.6% |
| Beta vs S&P 500 | 0.65 | 1.28 |
| Max drawdown (3Y) | -61.2% | -22.8% |
| Market cap | $1.6B | – |
| P/E (trailing) | 20.7 | – |
| 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 | ARDT | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | – | +54.9% |
| 2024 | – | +25.6% |
| 2025 | -48.3% | +20.8% |
| 2026 | +24.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARDT and QQQ good diversifiers for each other?
Yes: at 0.13, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ARDT and QQQ?
The ARDT/QQQ correlation stands at 0.13 on a 3-year window (1 year: 0.11, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ARDT?
Yes: at 0.13, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.13 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.
Use this data
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Related comparisons
Hubs: ARDT correlations · QQQ correlations
