LGND vs QQQ: Correlation
Measured on weekly returns over the past three years, Ligand Pharmaceuticals Incorporated (LGND) and Invesco QQQ Trust (QQQ) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LGND and QQQ?
Across a 3-year window, the weekly returns of LGND and QQQ correlate at 0.38, moderate. The link has loosened recently: the 1-year correlation (0.24) runs below the 3-year figure (0.38). Stretching to 5 years gives 0.46, with an annualized covariance of 262.3 %².
Out of 11 assets tracked against LGND, QQQ lands near the bottom at #8. Their recent paths diverged sharply: over the last 12 months LGND outperformed by 52.5 percentage points (+78.8% for LGND against +26.3% for QQQ). Risk is not evenly split, since LGND carries 1.8 times the volatility of the other side.
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.
LGND vs QQQ: side by side
| LGND (Ligand Pharmaceuticals Incorporated) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +78.8% | +26.3% |
| 5-year return | +276.5% | +95.4% |
| Volatility (ann.) | 35.4% | 19.6% |
| Beta vs S&P 500 | 1.02 | 1.28 |
| Max drawdown (3Y) | -25.6% | -22.8% |
| Market cap | $5.7B | – |
| P/E (trailing) | 29.7 | – |
| 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 | LGND | QQQ |
|---|---|---|
| 2022 | -30.7% | -32.6% |
| 2023 | +6.9% | +54.9% |
| 2024 | +50.0% | +25.6% |
| 2025 | +76.5% | +20.8% |
| 2026 | +50.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LGND and QQQ good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LGND and QQQ?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.24 over the last year and 0.46 over 5 years.
Is QQQ a good diversifier for LGND?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/lgnd-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lgnd-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LGND correlations · QQQ correlations
