L vs QQQ: Correlation
Loews Corporation (L) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.07.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are L and QQQ?
Over the past 3 years, L and QQQ moved with a correlation of 0.07, which is near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.23) than the 3-year average (0.07). Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 24.0 %².
Among the 54 assets we track against L, QQQ ranks #44 by 3-year correlation. The trailing year gives QQQ the advantage: +14.2% versus +26.3%, a 12.1-point spread. This link changes with the market regime, having swung between -0.27 and 0.43 on a rolling one-year basis.
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.
L vs QQQ: side by side
| L (Loews Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +14.2% | +26.3% |
| 5-year return | +100.1% | +95.4% |
| Volatility (ann.) | 16.6% | 19.6% |
| Beta vs S&P 500 | 0.33 | 1.28 |
| Max drawdown (3Y) | -12.2% | -22.8% |
| Market cap | $22.5B | – |
| P/E (trailing) | 13.5 | – |
| Dividend yield | 0.23% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Financials | 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 | L | QQQ |
|---|---|---|
| 2022 | +1.4% | -32.6% |
| 2023 | +19.8% | +54.9% |
| 2024 | +22.1% | +25.6% |
| 2025 | +24.7% | +20.8% |
| 2026 | +4.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are L and QQQ good diversifiers for each other?
Yes: at 0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between L and QQQ?
The L/QQQ correlation stands at 0.07 on a 3-year window (1 year: -0.23, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for L?
Yes: at 0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.07 mean?
On the −1 to +1 scale, 0.07 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/l-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/l-vs-qqq/)
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Related comparisons
Hubs: L correlations · QQQ correlations
