INVA vs QQQ: Correlation
How closely do Innoviva, Inc. (INVA) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.04, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INVA and QQQ?
On 3 years of weekly data the INVA/QQQ correlation comes out at 0.04, near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.18) runs below the 3-year figure (0.04). The 5-year figure is 0.07, and annualized covariance runs at 21.0 %².
Out of 13 assets tracked against INVA, QQQ lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with QQQ ahead by 20.7 points (+5.6% versus +26.3%).
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.
INVA vs QQQ: side by side
| INVA (Innoviva, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +5.6% | +26.3% |
| 5-year return | +36.6% | +95.4% |
| Volatility (ann.) | 25.4% | 19.6% |
| Beta vs S&P 500 | 0.21 | 1.28 |
| Max drawdown (3Y) | -23.5% | -22.8% |
| Market cap | $1.5B | – |
| P/E (trailing) | 4.9 | – |
| 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 | INVA | QQQ |
|---|---|---|
| 2022 | -23.2% | -32.6% |
| 2023 | +21.1% | +54.9% |
| 2024 | +8.2% | +25.6% |
| 2025 | +15.2% | +20.8% |
| 2026 | +4.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INVA and QQQ good diversifiers for each other?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between INVA and QQQ?
The INVA/QQQ correlation stands at 0.04 on a 3-year window (1 year: -0.18, 5 years: 0.07), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for INVA?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.04 mean?
On the −1 to +1 scale, 0.04 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.
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Related comparisons
Hubs: INVA correlations · QQQ correlations
