LQDA vs QQQ: Correlation
Liquidia Corporation (LQDA) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LQDA and QQQ?
Across a 3-year window, the weekly returns of LQDA and QQQ correlate at 0.26, weak. The link has loosened recently: the 1-year correlation (0.09) runs below the 3-year figure (0.26). Stretching to 5 years gives 0.22, with an annualized covariance of 372.5 %².
Among the 11 assets we track against LQDA, QQQ sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months LQDA outperformed by 123.5 percentage points (+149.8% for LQDA against +26.3% for QQQ). One caveat on sizing: LQDA is 3.7 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.
LQDA vs QQQ: side by side
| LQDA (Liquidia Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +149.8% | +26.3% |
| 5-year return | +2500.0% | +95.4% |
| Volatility (ann.) | 72.2% | 19.6% |
| Beta vs S&P 500 | 1.47 | 1.28 |
| Max drawdown (3Y) | -46.8% | -22.8% |
| Market cap | $6.3B | – |
| P/E (trailing) | 51.1 | – |
| 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 | LQDA | QQQ |
|---|---|---|
| 2022 | +30.8% | -32.6% |
| 2023 | +88.9% | +54.9% |
| 2024 | -2.2% | +25.6% |
| 2025 | +193.3% | +20.8% |
| 2026 | +102.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LQDA and QQQ good diversifiers for each other?
Reasonably. At 0.26, LQDA and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LQDA and QQQ?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with 0.09 over the last year and 0.22 over 5 years.
Is QQQ a good diversifier for LQDA?
Reasonably. At 0.26, LQDA and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.26 mean?
A reading of 0.26 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/lqda-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lqda-vs-qqq/)
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Related comparisons
Hubs: LQDA correlations · QQQ correlations
