NVST vs QQQ: Correlation
How closely do Envista Holdings Corporation (NVST) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.20, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVST and QQQ?
Over the past 3 years, NVST and QQQ moved with a correlation of 0.20, which is weak. Lately the two have drifted apart, with the 1-year correlation at 0.08 versus 0.20 over 3 years. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 140.6 %².
QQQ is close to the least connected end of NVST's tracked universe, ranking #15 of 18. Twelve-month performance is nearly a tie, at +29.2% for NVST and +26.3% for QQQ. Note the risk asymmetry: NVST runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
NVST vs QQQ: side by side
| NVST (Envista Holdings Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +29.2% | +26.3% |
| 5-year return | -35.8% | +95.4% |
| Volatility (ann.) | 35.4% | 19.6% |
| Beta vs S&P 500 | 0.80 | 1.28 |
| Max drawdown (3Y) | -55.4% | -22.8% |
| Market cap | $4.4B | – |
| P/E (trailing) | 48.1 | – |
| 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 | NVST | QQQ |
|---|---|---|
| 2022 | -25.3% | -32.6% |
| 2023 | -28.5% | +54.9% |
| 2024 | -19.8% | +25.6% |
| 2025 | +12.5% | +20.8% |
| 2026 | +26.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVST and QQQ good diversifiers for each other?
Reasonably. At 0.20, NVST and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NVST and QQQ?
Using weekly returns as of 2026-08-27: 0.20 over 3 years, with 0.08 over the last year and 0.36 over 5 years.
Is QQQ a good diversifier for NVST?
Reasonably. At 0.20, NVST and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.20 mean?
A reading of 0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nvst-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nvst-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NVST correlations · QQQ correlations
