LZM vs QQQ: Correlation
How closely do Lifezone Metals Limited (LZM) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LZM and QQQ?
Across a 3-year window, the weekly returns of LZM and QQQ correlate at 0.34, moderate. The link has tightened recently: the 1-year correlation (0.59) runs above the 3-year figure (0.34). Stretching to 5 years gives 0.23, with an annualized covariance of 538.8 %².
Within LZM's tracked universe of 12 assets, QQQ comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 29.6 percentage points (-3.3% for LZM against +26.3% for QQQ). One caveat on sizing: LZM is 4.2 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.
LZM vs QQQ: side by side
| LZM (Lifezone Metals Limited) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -3.3% | +26.3% |
| 5-year return | -55.4% | +95.4% |
| Volatility (ann.) | 81.7% | 19.6% |
| Beta vs S&P 500 | 1.75 | 1.28 |
| Max drawdown (3Y) | -82.0% | -22.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| 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 | LZM | QQQ |
|---|---|---|
| 2022 | +4.7% | -32.6% |
| 2023 | -12.9% | +54.9% |
| 2024 | -23.1% | +25.6% |
| 2025 | -38.6% | +20.8% |
| 2026 | +3.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LZM and QQQ good diversifiers for each other?
Reasonably. At 0.34, LZM and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LZM and QQQ?
The LZM/QQQ correlation stands at 0.34 on a 3-year window (1 year: 0.59, 5 years: 0.23), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for LZM?
Reasonably. At 0.34, LZM and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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/lzm-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lzm-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LZM correlations · QQQ correlations
