AXGN vs QQQ: Correlation
Axogen, Inc. (AXGN) 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 AXGN and QQQ?
Over the past 3 years, AXGN and QQQ moved with a correlation of 0.21, which is weak. Little has changed lately, as the 1-year reading of 0.27 lands near the 3-year figure. Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 266.1 %².
Among the 14 assets we track against AXGN, QQQ ranks #7 by 3-year correlation. The last year tells two different stories: AXGN led by 194.2 percentage points, +220.5% for AXGN against +26.3% for QQQ. Risk is not evenly split, since AXGN carries 3.2 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.
AXGN vs QQQ: side by side
| AXGN (Axogen, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +220.5% | +26.3% |
| 5-year return | +213.9% | +95.4% |
| Volatility (ann.) | 63.3% | 19.6% |
| Beta vs S&P 500 | 1.11 | 1.28 |
| Max drawdown (3Y) | -53.8% | -22.8% |
| Market cap | $2.8B | – |
| 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 | AXGN | QQQ |
|---|---|---|
| 2022 | +6.5% | -32.6% |
| 2023 | -31.6% | +54.9% |
| 2024 | +141.3% | +25.6% |
| 2025 | +98.6% | +20.8% |
| 2026 | +58.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXGN 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 AXGN and QQQ?
As of 2026-08-27, the correlation of weekly returns between AXGN and QQQ is 0.21 over 3 years, 0.27 over 1 year and 0.28 over 5 years.
Is QQQ a good diversifier for AXGN?
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?
On the −1 to +1 scale, 0.21 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.
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Related comparisons
Hubs: AXGN correlations · QQQ correlations
