LH vs QQQ: Correlation
How closely do Labcorp (LH) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.10, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LH and QQQ?
Over the past 3 years, LH and QQQ moved with a correlation of 0.10, which is weak. The link has loosened recently: the 1-year correlation (-0.20) runs below the 3-year figure (0.10). Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 42.7 %².
By 3-year correlation, QQQ places #24 of the 34 assets tracked against LH. Their 12-month results are close: +21.8% for LH against +26.3% for QQQ. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.17 to 0.45.
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.
LH vs QQQ: side by side
| LH (Labcorp) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +21.8% | +26.3% |
| 5-year return | +36.0% | +95.4% |
| Volatility (ann.) | 21.4% | 19.6% |
| Beta vs S&P 500 | 0.33 | 1.28 |
| Max drawdown (3Y) | -17.4% | -22.8% |
| Market cap | $27.3B | – |
| P/E (trailing) | 27.8 | – |
| Dividend yield | 0.86% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Health Care | 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 | LH | QQQ |
|---|---|---|
| 2022 | -24.4% | -32.6% |
| 2023 | +13.8% | +54.9% |
| 2024 | +2.2% | +25.6% |
| 2025 | +10.6% | +20.8% |
| 2026 | +34.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LH and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
FAQ
What is the correlation between LH and QQQ?
The LH/QQQ correlation stands at 0.10 on a 3-year window (1 year: -0.20, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for LH?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
What does a correlation of 0.10 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lh-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lh-vs-qqq/)
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Related comparisons
Hubs: LH correlations · QQQ correlations
