LILA vs QQQ: Correlation
How closely do Liberty Latin America Ltd. (LILA) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.07, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LILA and QQQ?
Over the past 3 years, LILA and QQQ moved with a correlation of 0.07, which is near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.18) runs below the 3-year figure (0.07). Over 5 years the correlation is 0.17, and the annualized covariance of weekly returns is 71.6 %².
QQQ is close to the least connected end of LILA's tracked universe, ranking #10 of 13. Correlation aside, the last 12 months split them widely, with LILA ahead by 26.2 points (+52.5% versus +26.3%). One caveat on sizing: LILA is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
LILA vs QQQ: side by side
| LILA (Liberty Latin America Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +52.5% | +26.3% |
| 5-year return | -13.8% | +95.4% |
| Volatility (ann.) | 49.9% | 19.6% |
| Beta vs S&P 500 | 0.47 | 1.28 |
| Max drawdown (3Y) | -57.1% | -22.8% |
| Market cap | $1.6B | – |
| P/E (trailing) | – | – |
| 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 | LILA | QQQ |
|---|---|---|
| 2022 | -35.4% | -32.6% |
| 2023 | -2.9% | +54.9% |
| 2024 | -13.0% | +25.6% |
| 2025 | +16.2% | +20.8% |
| 2026 | +65.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LILA and QQQ good diversifiers for each other?
Yes. With a correlation of 0.07, LILA and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LILA and QQQ?
As of 2026-08-27, the correlation of weekly returns between LILA and QQQ is 0.07 over 3 years, -0.18 over 1 year and 0.17 over 5 years.
Is QQQ a good diversifier for LILA?
Yes. With a correlation of 0.07, LILA and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.07 mean?
A reading of 0.07 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lila-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lila-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LILA correlations · QQQ correlations
