BHVN vs QQQ: Correlation
Biohaven Ltd. (BHVN) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHVN and QQQ?
On 3 years of weekly data the BHVN/QQQ correlation comes out at 0.27, weak. Little has changed lately, as the 1-year reading of 0.27 lands near the 3-year figure. The 5-year figure is 0.26, and annualized covariance runs at 419.5 %².
Among the 10 assets we track against BHVN, QQQ sits near the bottom by co-movement, at rank #7. The last year tells two different stories: QQQ led by 23.0 percentage points, +3.3% for BHVN against +26.3% for QQQ. Note the risk asymmetry: BHVN runs 4.0 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.
BHVN vs QQQ: side by side
| BHVN (Biohaven Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +3.3% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 78.0% | 19.6% |
| Beta vs S&P 500 | 1.60 | 1.28 |
| Max drawdown (3Y) | -87.0% | -22.8% |
| Market cap | $2.4B | – |
| 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 | BHVN | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | +208.4% | +54.9% |
| 2024 | -12.7% | +25.6% |
| 2025 | -69.8% | +20.8% |
| 2026 | +42.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHVN and QQQ good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BHVN and QQQ?
As of 2026-08-27, the correlation of weekly returns between BHVN and QQQ is 0.27 over 3 years, 0.27 over 1 year and 0.26 over 5 years.
Is QQQ a good diversifier for BHVN?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.27 mean?
A reading of 0.27 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: BHVN correlations · QQQ correlations
