DOCS vs QQQ: Correlation
Doximity, Inc. (DOCS) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOCS and QQQ?
Across a 3-year window, the weekly returns of DOCS and QQQ correlate at 0.39, moderate. Little has changed lately, as the 1-year reading of 0.44 lands near the 3-year figure. Stretching to 5 years gives 0.46, with an annualized covariance of 450.9 %².
Within DOCS's tracked universe of 15 assets, QQQ comes in at #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 88.7 percentage points (-62.4% for DOCS against +26.3% for QQQ). Note the risk asymmetry: DOCS runs 3.1 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.
DOCS vs QQQ: side by side
| DOCS (Doximity, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -62.4% | +26.3% |
| 5-year return | -69.1% | +95.4% |
| Volatility (ann.) | 59.8% | 19.6% |
| Beta vs S&P 500 | 1.53 | 1.28 |
| Max drawdown (3Y) | -78.3% | -22.8% |
| Market cap | $4.6B | – |
| P/E (trailing) | 29.4 | – |
| 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 | DOCS | QQQ |
|---|---|---|
| 2022 | -33.1% | -32.6% |
| 2023 | -16.4% | +54.9% |
| 2024 | +90.4% | +25.6% |
| 2025 | -17.1% | +20.8% |
| 2026 | -42.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOCS and QQQ good diversifiers for each other?
Reasonably. At 0.39, DOCS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DOCS and QQQ?
As of 2026-08-27, the correlation of weekly returns between DOCS and QQQ is 0.39 over 3 years, 0.44 over 1 year and 0.46 over 5 years.
Is QQQ a good diversifier for DOCS?
Reasonably. At 0.39, DOCS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/docs-vs-qqq.json
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Related comparisons
Hubs: DOCS correlations · QQQ correlations
