EQ vs QQQ: Correlation
How closely do Equillium, Inc. (EQ) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of -0.02, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQ and QQQ?
Over the past 3 years, EQ and QQQ moved with a correlation of -0.02, which is near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.05) sits close to the 3-year figure. Over 5 years the correlation is 0.05, and the annualized covariance of weekly returns is -50.7 %².
Among the 13 assets we track against EQ, QQQ sits near the bottom by co-movement, at rank #9. Twelve-month performance is nearly a tie, at +28.3% for EQ and +26.3% for QQQ. One caveat on sizing: EQ is 7.5 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.
EQ vs QQQ: side by side
| EQ (Equillium, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +28.3% | +26.3% |
| 5-year return | -60.0% | +95.4% |
| Volatility (ann.) | 147.8% | 19.6% |
| Beta vs S&P 500 | 0.03 | 1.28 |
| Max drawdown (3Y) | -90.3% | -22.8% |
| Market cap | $0.2B | – |
| 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 | EQ | QQQ |
|---|---|---|
| 2022 | -71.9% | -32.6% |
| 2023 | -32.1% | +54.9% |
| 2024 | +4.2% | +25.6% |
| 2025 | +106.7% | +20.8% |
| 2026 | +58.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQ and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of -0.02 means the two rarely move for the same reasons.
FAQ
What is the correlation between EQ and QQQ?
The EQ/QQQ correlation stands at -0.02 on a 3-year window (1 year: 0.05, 5 years: 0.05), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for EQ?
By historical standards, yes. A correlation of -0.02 means the two rarely move for the same reasons.
What does a correlation of -0.02 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/eq-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eq-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EQ correlations · QQQ correlations
