NVAX vs QQQ: Correlation
How closely do Novavax, Inc. (NVAX) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.29, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVAX and QQQ?
On 3 years of weekly data the NVAX/QQQ correlation comes out at 0.29, weak. The link has tightened recently: the 1-year correlation (0.54) runs above the 3-year figure (0.29). The 5-year figure is 0.35, and annualized covariance runs at 497.1 %².
Out of 16 assets tracked against NVAX, QQQ lands near the bottom at #12. The trailing year gives QQQ the advantage: +19.4% versus +26.3%, a 6.9-point spread. Risk is not evenly split, since NVAX carries 4.4 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.
NVAX vs QQQ: side by side
| NVAX (Novavax, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +19.4% | +26.3% |
| 5-year return | -96.1% | +95.4% |
| Volatility (ann.) | 86.3% | 19.6% |
| Beta vs S&P 500 | 1.77 | 1.28 |
| Max drawdown (3Y) | -74.1% | -22.8% |
| Market cap | $1.5B | – |
| 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 | NVAX | QQQ |
|---|---|---|
| 2022 | -92.8% | -32.6% |
| 2023 | -53.3% | +54.9% |
| 2024 | +67.5% | +25.6% |
| 2025 | -16.4% | +20.8% |
| 2026 | +34.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVAX and QQQ good diversifiers for each other?
Reasonably. At 0.29, NVAX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NVAX and QQQ?
As of 2026-08-27, the correlation of weekly returns between NVAX and QQQ is 0.29 over 3 years, 0.54 over 1 year and 0.35 over 5 years.
Is QQQ a good diversifier for NVAX?
Reasonably. At 0.29, NVAX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.29 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.
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Related comparisons
Hubs: NVAX correlations · QQQ correlations
