ELUT vs QQQ: Correlation
Measured on weekly returns over the past three years, Elutia, Inc. (ELUT) and Invesco QQQ Trust (QQQ) carry a correlation of 0.03, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELUT and QQQ?
Over the past 3 years, ELUT and QQQ moved with a correlation of 0.03, which is near zero, meaning they move largely independently. Recent behaviour matches the longer record: 0.11 over 1 year against 0.03 over 3. Over 5 years the correlation is 0.04, and the annualized covariance of weekly returns is 53.9 %².
QQQ is close to the least connected end of ELUT's tracked universe, ranking #6 of 10. Correlation aside, the last 12 months split them widely, with QQQ ahead by 86.5 points (-60.2% versus +26.3%). Risk is not evenly split, since ELUT carries 4.2 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.
ELUT vs QQQ: side by side
| ELUT (Elutia, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -60.2% | +26.3% |
| 5-year return | -89.2% | +95.4% |
| Volatility (ann.) | 81.4% | 19.6% |
| Beta vs S&P 500 | 0.14 | 1.28 |
| Max drawdown (3Y) | -89.8% | -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 | ELUT | QQQ |
|---|---|---|
| 2022 | -32.5% | -32.6% |
| 2023 | -49.2% | +54.9% |
| 2024 | +73.1% | +25.6% |
| 2025 | -81.5% | +20.8% |
| 2026 | +27.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELUT and QQQ good diversifiers for each other?
Yes: at 0.03, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ELUT and QQQ?
As of 2026-08-27, the correlation of weekly returns between ELUT and QQQ is 0.03 over 3 years, 0.11 over 1 year and 0.04 over 5 years.
Is QQQ a good diversifier for ELUT?
Yes: at 0.03, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.03 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/elut-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/elut-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ELUT correlations · QQQ correlations
