NEO vs QQQ: Correlation
How closely do NeoGenomics, Inc. (NEO) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.22, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEO and QQQ?
On 3 years of weekly data the NEO/QQQ correlation comes out at 0.22, weak. The past 12 months show a weaker link (0.09) than the 3-year average (0.22). The 5-year figure is 0.39, and annualized covariance runs at 252.4 %².
Among the 11 assets we track against NEO, QQQ sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months NEO outperformed by 137.0 percentage points (+163.3% for NEO against +26.3% for QQQ). One caveat on sizing: NEO is 3.0 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.
NEO vs QQQ: side by side
| NEO (NeoGenomics, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +163.3% | +26.3% |
| 5-year return | -62.1% | +95.4% |
| Volatility (ann.) | 59.7% | 19.6% |
| Beta vs S&P 500 | 1.17 | 1.28 |
| Max drawdown (3Y) | -76.7% | -22.8% |
| Market cap | $2.4B | – |
| 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 | NEO | QQQ |
|---|---|---|
| 2022 | -72.9% | -32.6% |
| 2023 | +75.1% | +54.9% |
| 2024 | +1.9% | +25.6% |
| 2025 | -28.6% | +20.8% |
| 2026 | +58.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEO and QQQ good diversifiers for each other?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NEO and QQQ?
The NEO/QQQ correlation stands at 0.22 on a 3-year window (1 year: 0.09, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NEO?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.22 mean?
On the −1 to +1 scale, 0.22 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/neo-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/neo-vs-qqq/)
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Related comparisons
Hubs: NEO correlations · QQQ correlations
