ASND vs QQQ: Correlation
Ascendis Pharma A/S (ASND) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASND and QQQ?
Over the past 3 years, ASND and QQQ moved with a correlation of 0.21, which is weak. The past 12 months show a weaker link (0.09) than the 3-year average (0.21). Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 162.6 %².
Among the 11 assets we track against ASND, QQQ sits near the bottom by co-movement, at rank #8. Their 12-month results are close: +29.2% for ASND against +26.3% for QQQ. Risk is not evenly split, since ASND carries 2.1 times the volatility of the other side.
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.
ASND vs QQQ: side by side
| ASND (Ascendis Pharma A/S) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +29.2% | +26.3% |
| 5-year return | +61.6% | +95.4% |
| Volatility (ann.) | 40.2% | 19.6% |
| Beta vs S&P 500 | 0.69 | 1.28 |
| Max drawdown (3Y) | -29.2% | -22.8% |
| Market cap | $16.4B | – |
| P/E (trailing) | 19.1 | – |
| 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 | ASND | QQQ |
|---|---|---|
| 2022 | -9.2% | -32.6% |
| 2023 | +3.1% | +54.9% |
| 2024 | +9.3% | +25.6% |
| 2025 | +54.9% | +20.8% |
| 2026 | +16.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASND and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ASND and QQQ?
The ASND/QQQ correlation stands at 0.21 on a 3-year window (1 year: 0.09, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ASND?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.21 mean?
A reading of 0.21 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ASND correlations · QQQ correlations
