ETON vs QQQ: Correlation
Eton Pharmaceuticals, Inc. (ETON) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETON and QQQ?
Over the past 3 years, ETON and QQQ moved with a correlation of 0.17, which is weak. Lately the two have drifted apart, with the 1-year correlation at -0.15 versus 0.17 over 3 years. Over 5 years the correlation is 0.22, and the annualized covariance of weekly returns is 190.7 %².
Out of 10 assets tracked against ETON, QQQ lands near the bottom at #7. Their recent paths diverged sharply: over the last 12 months ETON outperformed by 236.4 percentage points (+262.7% for ETON against +26.3% for QQQ). One caveat on sizing: ETON is 3.0 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.
ETON vs QQQ: side by side
| ETON (Eton Pharmaceuticals, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +262.7% | +26.3% |
| 5-year return | +1112.2% | +95.4% |
| Volatility (ann.) | 58.4% | 19.6% |
| Beta vs S&P 500 | 0.89 | 1.28 |
| Max drawdown (3Y) | -45.6% | -22.8% |
| Market cap | $1.8B | – |
| P/E (trailing) | 160.7 | – |
| 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 | ETON | QQQ |
|---|---|---|
| 2022 | -34.3% | -32.6% |
| 2023 | +55.3% | +54.9% |
| 2024 | +204.1% | +25.6% |
| 2025 | +27.0% | +20.8% |
| 2026 | +270.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETON and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between ETON and QQQ?
Using weekly returns as of 2026-08-27: 0.17 over 3 years, with -0.15 over the last year and 0.22 over 5 years.
Is QQQ a good diversifier for ETON?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
What does a correlation of 0.17 mean?
On the −1 to +1 scale, 0.17 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
$ curl https://www.pairbook.io/api/v1/pairs/eton-vs-qqq.json
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Related comparisons
Hubs: ETON correlations · QQQ correlations
