LMAT vs QQQ: Correlation
Measured on weekly returns over the past three years, LeMaitre Vascular, Inc. (LMAT) and Invesco QQQ Trust (QQQ) carry a correlation of 0.20, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LMAT and QQQ?
On 3 years of weekly data the LMAT/QQQ correlation comes out at 0.20, weak. The link has loosened recently: the 1-year correlation (-0.12) runs below the 3-year figure (0.20). The 5-year figure is 0.27, and annualized covariance runs at 137.2 %².
Within LMAT's tracked universe of 14 assets, QQQ comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 42.2 points (-15.9% versus +26.3%). Note the risk asymmetry: LMAT runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
LMAT vs QQQ: side by side
| LMAT (LeMaitre Vascular, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -15.9% | +26.3% |
| 5-year return | +47.2% | +95.4% |
| Volatility (ann.) | 35.0% | 19.6% |
| Beta vs S&P 500 | 0.57 | 1.28 |
| Max drawdown (3Y) | -32.5% | -22.8% |
| Market cap | $1.8B | – |
| P/E (trailing) | 27.9 | – |
| Dividend yield | 1.13% | 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 | LMAT | QQQ |
|---|---|---|
| 2022 | -7.4% | -32.6% |
| 2023 | +24.6% | +54.9% |
| 2024 | +63.6% | +25.6% |
| 2025 | -11.2% | +20.8% |
| 2026 | -1.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LMAT and QQQ good diversifiers for each other?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LMAT and QQQ?
Using weekly returns as of 2026-08-27: 0.20 over 3 years, with -0.12 over the last year and 0.27 over 5 years.
Is QQQ a good diversifier for LMAT?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.20 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/lmat-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lmat-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LMAT correlations · QQQ correlations
