AVIR vs QQQ: Correlation
How closely do Atea Pharmaceuticals, Inc. (AVIR) 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 AVIR and QQQ?
Over the past 3 years, AVIR and QQQ moved with a correlation of 0.18, which is weak. Recent behaviour matches the longer record: 0.15 over 1 year against 0.18 over 3. Over 5 years the correlation is 0.18, and the annualized covariance of weekly returns is 169.8 %².
QQQ is close to the least connected end of AVIR's tracked universe, ranking #9 of 13. The last year tells two different stories: AVIR led by 25.1 percentage points, +51.4% for AVIR against +26.3% for QQQ. Note the risk asymmetry: AVIR 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.
AVIR vs QQQ: side by side
| AVIR (Atea Pharmaceuticals, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +51.4% | +26.3% |
| 5-year return | -82.1% | +95.4% |
| Volatility (ann.) | 48.3% | 19.6% |
| Beta vs S&P 500 | 0.73 | 1.28 |
| Max drawdown (3Y) | -44.1% | -22.8% |
| Market cap | $0.4B | – |
| 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 | AVIR | QQQ |
|---|---|---|
| 2022 | -46.2% | -32.6% |
| 2023 | -36.6% | +54.9% |
| 2024 | +9.8% | +25.6% |
| 2025 | +6.6% | +20.8% |
| 2026 | +52.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVIR and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between AVIR and QQQ?
The AVIR/QQQ correlation stands at 0.18 on a 3-year window (1 year: 0.15, 5 years: 0.18), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for AVIR?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
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.
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Related comparisons
Hubs: AVIR correlations · QQQ correlations
