LII vs QQQ: Correlation
Measured on weekly returns over the past three years, Lennox International (LII) and Invesco QQQ Trust (QQQ) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LII and QQQ?
On 3 years of weekly data the LII/QQQ correlation comes out at 0.41, moderate. The past 12 months show a weaker link (0.23) than the 3-year average (0.41). The 5-year figure is 0.52, and annualized covariance runs at 255.5 %².
By 3-year correlation, QQQ places #17 of the 37 assets tracked against LII. Correlation aside, the last 12 months split them widely, with QQQ ahead by 56.6 points (-30.3% versus +26.3%). The rolling one-year correlation moved between 0.23 and 0.69 over the past three years, a moderate range. Risk is not evenly split, since LII carries 1.6 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.
LII vs QQQ: side by side
| LII (Lennox International) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -30.3% | +26.3% |
| 5-year return | +23.7% | +95.4% |
| Volatility (ann.) | 32.0% | 19.6% |
| Beta vs S&P 500 | 0.96 | 1.28 |
| Max drawdown (3Y) | -41.7% | -22.8% |
| Market cap | $13.5B | – |
| P/E (trailing) | 17.5 | – |
| Dividend yield | 1.34% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Industrials | 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 | LII | QQQ |
|---|---|---|
| 2022 | -24.9% | -32.6% |
| 2023 | +89.5% | +54.9% |
| 2024 | +37.3% | +25.6% |
| 2025 | -19.5% | +20.8% |
| 2026 | -19.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LII and QQQ good diversifiers for each other?
Reasonably. At 0.41, LII and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LII and QQQ?
The LII/QQQ correlation stands at 0.41 on a 3-year window (1 year: 0.23, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for LII?
Reasonably. At 0.41, LII and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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/lii-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lii-vs-qqq/)
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Related comparisons
Hubs: LII correlations · QQQ correlations
