DXCM vs QQQ: Correlation
Measured on weekly returns over the past three years, Dexcom (DXCM) and Invesco QQQ Trust (QQQ) carry a correlation of 0.27, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DXCM and QQQ?
On 3 years of weekly data the DXCM/QQQ correlation comes out at 0.27, weak. Lately the two have drifted apart, with the 1-year correlation at 0.13 versus 0.27 over 3 years. The 5-year figure is 0.37, and annualized covariance runs at 249.4 %².
Among the 28 assets we track against DXCM, QQQ ranks #17 by 3-year correlation. Over the last 12 months QQQ came out ahead by 9.4 percentage points (+16.9% against +26.3%). On a rolling one-year basis the correlation drifted between 0.14 and 0.53, a moderate band. Note the risk asymmetry: DXCM runs 2.4 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.
DXCM vs QQQ: side by side
| DXCM (Dexcom) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +16.9% | +26.3% |
| 5-year return | -31.5% | +95.4% |
| Volatility (ann.) | 46.7% | 19.6% |
| Beta vs S&P 500 | 1.02 | 1.28 |
| Max drawdown (3Y) | -61.0% | -22.8% |
| Market cap | $33.7B | – |
| P/E (trailing) | 35.2 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Health Care | 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 | DXCM | QQQ |
|---|---|---|
| 2022 | -15.6% | -32.6% |
| 2023 | +9.6% | +54.9% |
| 2024 | -37.3% | +25.6% |
| 2025 | -14.7% | +20.8% |
| 2026 | +34.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that QQQ holds DXCM at a 0.15% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are DXCM 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 DXCM and QQQ?
As of 2026-08-27, the correlation of weekly returns between DXCM and QQQ is 0.27 over 3 years, 0.13 over 1 year and 0.37 over 5 years.
Is QQQ a good diversifier for DXCM?
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dxcm-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dxcm-vs-qqq/)
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Related comparisons
Hubs: DXCM correlations · QQQ correlations
