LMB vs QQQ: Correlation
Measured on weekly returns over the past three years, Limbach Holdings, Inc. (LMB) and Invesco QQQ Trust (QQQ) carry a correlation of 0.24, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LMB and QQQ?
Across a 3-year window, the weekly returns of LMB and QQQ correlate at 0.24, weak. The link has loosened recently: the 1-year correlation (-0.06) runs below the 3-year figure (0.24). Stretching to 5 years gives 0.25, with an annualized covariance of 290.3 %².
Out of 12 assets tracked against LMB, QQQ lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 93.2 percentage points (-66.9% for LMB against +26.3% for QQQ). Note the risk asymmetry: LMB runs 3.1 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.
LMB vs QQQ: side by side
| LMB (Limbach Holdings, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -66.9% | +26.3% |
| 5-year return | +417.7% | +95.4% |
| Volatility (ann.) | 60.8% | 19.6% |
| Beta vs S&P 500 | 1.22 | 1.28 |
| Max drawdown (3Y) | -72.1% | -22.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 16.6 | – |
| 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 | LMB | QQQ |
|---|---|---|
| 2022 | +15.7% | -32.6% |
| 2023 | +336.8% | +54.9% |
| 2024 | +88.1% | +25.6% |
| 2025 | -9.0% | +20.8% |
| 2026 | -46.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LMB and QQQ good diversifiers for each other?
Reasonably. At 0.24, LMB and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LMB and QQQ?
The LMB/QQQ correlation stands at 0.24 on a 3-year window (1 year: -0.06, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for LMB?
Reasonably. At 0.24, LMB and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.24 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/lmb-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lmb-vs-qqq/)
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Related comparisons
Hubs: LMB correlations · QQQ correlations
