LIN vs QQQ: Correlation
Measured on weekly returns over the past three years, Linde plc (LIN) and Invesco QQQ Trust (QQQ) carry a correlation of 0.21, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LIN and QQQ?
On 3 years of weekly data the LIN/QQQ correlation comes out at 0.21, weak. The link has loosened recently: the 1-year correlation (-0.08) runs below the 3-year figure (0.21). The 5-year figure is 0.40, and annualized covariance runs at 67.7 %².
Among the 36 assets we track against LIN, QQQ ranks #25 by 3-year correlation. The last year tells two different stories: QQQ led by 24.4 percentage points, +1.9% for LIN against +26.3% for QQQ. This link changes with the market regime, having swung between -0.11 and 0.51 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.
LIN vs QQQ: side by side
| LIN (Linde plc) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +1.9% | +26.3% |
| 5-year return | +64.6% | +95.4% |
| Volatility (ann.) | 16.5% | 19.6% |
| Beta vs S&P 500 | 0.37 | 1.28 |
| Max drawdown (3Y) | -19.2% | -22.8% |
| Market cap | $223.7B | – |
| P/E (trailing) | 31.6 | – |
| Dividend yield | 1.26% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Materials | 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 | LIN | QQQ |
|---|---|---|
| 2022 | -4.4% | -32.6% |
| 2023 | +27.7% | +54.9% |
| 2024 | +3.2% | +25.6% |
| 2025 | +3.2% | +20.8% |
| 2026 | +14.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
LIN represents 1.01% of QQQ's portfolio, so part of any move in QQQ is LIN itself, and the correlation between them is partly mechanical.
Are LIN and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LIN and QQQ?
Using weekly returns as of 2026-08-27: 0.21 over 3 years, with -0.08 over the last year and 0.40 over 5 years.
Is QQQ a good diversifier for LIN?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.21 mean?
On the −1 to +1 scale, 0.21 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/lin-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lin-vs-qqq/)
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Related comparisons
Hubs: LIN correlations · QQQ correlations
