CLDX vs QQQ: Correlation
Measured on weekly returns over the past three years, Celldex Therapeutics, Inc. (CLDX) and Invesco QQQ Trust (QQQ) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLDX and QQQ?
Across a 3-year window, the weekly returns of CLDX and QQQ correlate at 0.35, moderate. Recent behaviour matches the longer record: 0.34 over 1 year against 0.35 over 3. Stretching to 5 years gives 0.36, with an annualized covariance of 403.8 %².
QQQ is close to the least connected end of CLDX's tracked universe, ranking #14 of 18. The last year tells two different stories: CLDX led by 52.7 percentage points, +79.0% for CLDX against +26.3% for QQQ. One caveat on sizing: CLDX is 3.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CLDX vs QQQ: side by side
| CLDX (Celldex Therapeutics, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +79.0% | +26.3% |
| 5-year return | -21.9% | +95.4% |
| Volatility (ann.) | 59.4% | 19.6% |
| Beta vs S&P 500 | 1.48 | 1.28 |
| Max drawdown (3Y) | -70.8% | -22.8% |
| Market cap | $3.2B | – |
| 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 | CLDX | QQQ |
|---|---|---|
| 2022 | +15.3% | -32.6% |
| 2023 | -11.0% | +54.9% |
| 2024 | -36.3% | +25.6% |
| 2025 | +7.5% | +20.8% |
| 2026 | +49.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLDX and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CLDX and QQQ?
As of 2026-08-27, the correlation of weekly returns between CLDX and QQQ is 0.35 over 3 years, 0.34 over 1 year and 0.36 over 5 years.
Is QQQ a good diversifier for CLDX?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cldx-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cldx-vs-qqq/)
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Related comparisons
Hubs: CLDX correlations · QQQ correlations
