NVNO vs QQQ: Correlation
How closely do enVVeno Medical Corporation (NVNO) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVNO and QQQ?
Over the past 3 years, NVNO and QQQ moved with a correlation of 0.27, which is weak. Recent behaviour matches the longer record: 0.36 over 1 year against 0.27 over 3. Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 446.9 %².
Among the 13 assets we track against NVNO, QQQ ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 90.8 points (-64.5% versus +26.3%). One caveat on sizing: NVNO is 4.3 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.
NVNO vs QQQ: side by side
| NVNO (enVVeno Medical Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -64.5% | +26.3% |
| 5-year return | -95.8% | +95.4% |
| Volatility (ann.) | 85.0% | 19.6% |
| Beta vs S&P 500 | 1.44 | 1.28 |
| Max drawdown (3Y) | -96.3% | -22.8% |
| Market cap | – | – |
| 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 | NVNO | QQQ |
|---|---|---|
| 2022 | -22.6% | -32.6% |
| 2023 | +0.8% | +54.9% |
| 2024 | -41.2% | +25.6% |
| 2025 | -89.4% | +20.8% |
| 2026 | +0.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVNO and QQQ good diversifiers for each other?
Reasonably. At 0.27, NVNO and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NVNO and QQQ?
Using weekly returns as of 2026-08-27: 0.27 over 3 years, with 0.36 over the last year and 0.24 over 5 years.
Is QQQ a good diversifier for NVNO?
Reasonably. At 0.27, NVNO and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.27 mean?
A reading of 0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: NVNO correlations · QQQ correlations
