OABI vs QQQ: Correlation
OmniAb, Inc. (OABI) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OABI and QQQ?
On 3 years of weekly data the OABI/QQQ correlation comes out at 0.26, weak. Recent behaviour matches the longer record: 0.23 over 1 year against 0.26 over 3. The 5-year figure is 0.28, and annualized covariance runs at 349.4 %².
Out of 12 assets tracked against OABI, QQQ lands near the bottom at #9. The last year tells two different stories: OABI led by 160.0 percentage points, +186.3% for OABI against +26.3% for QQQ. Risk is not evenly split, since OABI carries 3.4 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.
OABI vs QQQ: side by side
| OABI (OmniAb, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +186.3% | +26.3% |
| 5-year return | -52.8% | +95.4% |
| Volatility (ann.) | 67.6% | 19.6% |
| Beta vs S&P 500 | 1.30 | 1.28 |
| Max drawdown (3Y) | -81.3% | -22.8% |
| Market cap | $0.7B | – |
| 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 | OABI | QQQ |
|---|---|---|
| 2022 | -64.0% | -32.6% |
| 2023 | +71.4% | +54.9% |
| 2024 | -42.6% | +25.6% |
| 2025 | -47.7% | +20.8% |
| 2026 | +149.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OABI and QQQ good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between OABI and QQQ?
As of 2026-08-27, the correlation of weekly returns between OABI and QQQ is 0.26 over 3 years, 0.23 over 1 year and 0.28 over 5 years.
Is QQQ a good diversifier for OABI?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 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/oabi-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/oabi-vs-qqq/)
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Related comparisons
Hubs: OABI correlations · QQQ correlations
