JAZZ vs QQQ: Correlation
Jazz Pharmaceuticals plc (JAZZ) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.15.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JAZZ and QQQ?
Over the past 3 years, JAZZ and QQQ moved with a correlation of 0.15, which is weak. Lately the two have drifted apart, with the 1-year correlation at -0.04 versus 0.15 over 3 years. Over 5 years the correlation is 0.18, and the annualized covariance of weekly returns is 103.5 %².
Among the 14 assets we track against JAZZ, QQQ sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with JAZZ ahead by 75.5 points (+101.8% versus +26.3%). Note the risk asymmetry: JAZZ 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.
JAZZ vs QQQ: side by side
| JAZZ (Jazz Pharmaceuticals plc) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +101.8% | +26.3% |
| 5-year return | +90.9% | +95.4% |
| Volatility (ann.) | 34.6% | 19.6% |
| Beta vs S&P 500 | 0.60 | 1.28 |
| Max drawdown (3Y) | -32.7% | -22.8% |
| Market cap | $16.3B | – |
| P/E (trailing) | 17.2 | – |
| 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 | JAZZ | QQQ |
|---|---|---|
| 2022 | +25.0% | -32.6% |
| 2023 | -22.8% | +54.9% |
| 2024 | +0.1% | +25.6% |
| 2025 | +38.0% | +20.8% |
| 2026 | +47.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JAZZ and QQQ good diversifiers for each other?
Yes. With a correlation of 0.15, JAZZ and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between JAZZ and QQQ?
Using weekly returns as of 2026-08-27: 0.15 over 3 years, with -0.04 over the last year and 0.18 over 5 years.
Is QQQ a good diversifier for JAZZ?
Yes. With a correlation of 0.15, JAZZ and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.15 mean?
A reading of 0.15 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: JAZZ correlations · QQQ correlations
