NEON vs QQQ: Correlation
How closely do Neonode Inc. (NEON) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.16, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEON and QQQ?
On 3 years of weekly data the NEON/QQQ correlation comes out at 0.16, weak. The link has tightened recently: the 1-year correlation (0.29) runs above the 3-year figure (0.16). The 5-year figure is 0.24, and annualized covariance runs at 370.0 %².
QQQ is close to the least connected end of NEON's tracked universe, ranking #9 of 12. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 122.5 percentage points (-96.2% for NEON against +26.3% for QQQ). Risk is not evenly split, since NEON carries 6.1 times the volatility of the other side.
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.
NEON vs QQQ: side by side
| NEON (Neonode Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -96.2% | +26.3% |
| 5-year return | -82.6% | +95.4% |
| Volatility (ann.) | 119.0% | 19.6% |
| Beta vs S&P 500 | 1.95 | 1.28 |
| Max drawdown (3Y) | -97.4% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 1.9 | – |
| 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 | NEON | QQQ |
|---|---|---|
| 2022 | -37.9% | -32.6% |
| 2023 | -58.4% | +54.9% |
| 2024 | +259.4% | +25.6% |
| 2025 | -78.9% | +20.8% |
| 2026 | -49.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEON and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.16 means the two rarely move for the same reasons.
FAQ
What is the correlation between NEON and QQQ?
As of 2026-08-27, the correlation of weekly returns between NEON and QQQ is 0.16 over 3 years, 0.29 over 1 year and 0.24 over 5 years.
Is QQQ a good diversifier for NEON?
By historical standards, yes. A correlation of 0.16 means the two rarely move for the same reasons.
What does a correlation of 0.16 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/neon-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/neon-vs-qqq/)
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Related comparisons
Hubs: NEON correlations · QQQ correlations
