ELTX vs QQQ: Correlation
Elicio Therapeutics, Inc. (ELTX) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.05.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELTX and QQQ?
Across a 3-year window, the weekly returns of ELTX and QQQ correlate at 0.05, near zero, meaning they move largely independently. Recent behaviour matches the longer record: 0.04 over 1 year against 0.05 over 3. Stretching to 5 years gives 0.18, with an annualized covariance of 91.3 %².
Out of 11 assets tracked against ELTX, QQQ lands near the bottom at #7. The last year tells two different stories: QQQ led by 97.4 percentage points, -71.1% for ELTX against +26.3% for QQQ. Note the risk asymmetry: ELTX runs 4.8 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.
ELTX vs QQQ: side by side
| ELTX (Elicio Therapeutics, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -71.1% | +26.3% |
| 5-year return | -97.2% | +95.4% |
| Volatility (ann.) | 93.6% | 19.6% |
| Beta vs S&P 500 | 0.68 | 1.28 |
| Max drawdown (3Y) | -81.4% | -22.8% |
| Market cap | $0.1B | – |
| 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 | ELTX | QQQ |
|---|---|---|
| 2022 | -72.0% | -32.6% |
| 2023 | +2.7% | +54.9% |
| 2024 | -38.8% | +25.6% |
| 2025 | +56.1% | +20.8% |
| 2026 | -62.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELTX and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.05 means the two rarely move for the same reasons.
FAQ
What is the correlation between ELTX and QQQ?
Using weekly returns as of 2026-08-27: 0.05 over 3 years, with 0.04 over the last year and 0.18 over 5 years.
Is QQQ a good diversifier for ELTX?
By historical standards, yes. A correlation of 0.05 means the two rarely move for the same reasons.
What does a correlation of 0.05 mean?
On the −1 to +1 scale, 0.05 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: ELTX correlations · QQQ correlations
