CALC vs QQQ: Correlation
CalciMedica, Inc. (CALC) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.03.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CALC and QQQ?
Over the past 3 years, CALC and QQQ moved with a correlation of 0.03, which is near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.00) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 60.0 %².
Out of 10 assets tracked against CALC, QQQ lands near the bottom at #6. The last year tells two different stories: QQQ led by 110.1 percentage points, -83.8% for CALC against +26.3% for QQQ. Risk is not evenly split, since CALC carries 5.9 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.
CALC vs QQQ: side by side
| CALC (CalciMedica, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -83.8% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 115.7% | 19.6% |
| Beta vs S&P 500 | 0.26 | 1.28 |
| Max drawdown (3Y) | -93.7% | -22.8% |
| Market cap | – | – |
| 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 | CALC | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | – | +54.9% |
| 2024 | +23.8% | +25.6% |
| 2025 | +86.2% | +20.8% |
| 2026 | -92.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CALC and QQQ good diversifiers for each other?
Yes. With a correlation of 0.03, CALC and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CALC and QQQ?
As of 2026-08-27, the correlation of weekly returns between CALC and QQQ is 0.03 over 3 years, 0.00 over 1 year and n/a over 5 years.
Is QQQ a good diversifier for CALC?
Yes. With a correlation of 0.03, CALC and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.03 mean?
On the −1 to +1 scale, 0.03 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.
Use this data
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Related comparisons
Hubs: CALC correlations · QQQ correlations
