EXEL vs QQQ: Correlation
How closely do Exelixis, Inc. (EXEL) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXEL and QQQ?
On 3 years of weekly data the EXEL/QQQ correlation comes out at 0.27, weak. The link has loosened recently: the 1-year correlation (0.16) runs below the 3-year figure (0.27). The 5-year figure is 0.30, and annualized covariance runs at 180.8 %².
Out of 11 assets tracked against EXEL, QQQ lands near the bottom at #7. The last year tells two different stories: EXEL led by 17.2 percentage points, +43.5% for EXEL against +26.3% for QQQ. Note the risk asymmetry: EXEL runs 1.8 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.
EXEL vs QQQ: side by side
| EXEL (Exelixis, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +43.5% | +26.3% |
| 5-year return | +186.9% | +95.4% |
| Volatility (ann.) | 34.8% | 19.6% |
| Beta vs S&P 500 | 0.78 | 1.28 |
| Max drawdown (3Y) | -25.3% | -22.8% |
| Market cap | $13.7B | – |
| P/E (trailing) | 17.7 | – |
| 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 | EXEL | QQQ |
|---|---|---|
| 2022 | -12.3% | -32.6% |
| 2023 | +49.6% | +54.9% |
| 2024 | +38.8% | +25.6% |
| 2025 | +31.6% | +20.8% |
| 2026 | +26.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXEL and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EXEL and QQQ?
Using weekly returns as of 2026-08-27: 0.27 over 3 years, with 0.16 over the last year and 0.30 over 5 years.
Is QQQ a good diversifier for EXEL?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
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/exel-vs-qqq.json
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[](https://www.pairbook.io/pair/exel-vs-qqq/)
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Related comparisons
Hubs: EXEL correlations · QQQ correlations
