LOB vs QQQ: Correlation
Live Oak Bancshares, Inc. (LOB) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOB and QQQ?
Over the past 3 years, LOB and QQQ moved with a correlation of 0.25, which is weak. The link has loosened recently: the 1-year correlation (0.12) runs below the 3-year figure (0.25). Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 206.9 %².
Out of 11 assets tracked against LOB, QQQ lands near the bottom at #8. Correlation aside, the last 12 months split them widely, with QQQ ahead by 22.5 points (+3.8% versus +26.3%). One caveat on sizing: LOB is 2.2 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.
LOB vs QQQ: side by side
| LOB (Live Oak Bancshares, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +3.8% | +26.3% |
| 5-year return | -33.6% | +95.4% |
| Volatility (ann.) | 42.3% | 19.6% |
| Beta vs S&P 500 | 1.11 | 1.28 |
| Max drawdown (3Y) | -53.8% | -22.8% |
| Market cap | $1.9B | – |
| P/E (trailing) | 14.0 | – |
| Dividend yield | 0.30% | 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 | LOB | QQQ |
|---|---|---|
| 2022 | -65.3% | -32.6% |
| 2023 | +51.3% | +54.9% |
| 2024 | -12.8% | +25.6% |
| 2025 | -12.8% | +20.8% |
| 2026 | +16.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOB and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LOB and QQQ?
The LOB/QQQ correlation stands at 0.25 on a 3-year window (1 year: 0.12, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for LOB?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.25 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/lob-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lob-vs-qqq/)
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Related comparisons
Hubs: LOB correlations · QQQ correlations
