OFIX vs QQQ: Correlation
Measured on weekly returns over the past three years, Orthofix Medical Inc. (OFIX) and Invesco QQQ Trust (QQQ) carry a correlation of 0.24, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OFIX and QQQ?
Over the past 3 years, OFIX and QQQ moved with a correlation of 0.24, which is weak. Lately the two have drifted apart, with the 1-year correlation at 0.00 versus 0.24 over 3 years. Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 221.4 %².
Among the 12 assets we track against OFIX, QQQ sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 61.4 percentage points (-35.1% for OFIX against +26.3% for QQQ). Risk is not evenly split, since OFIX carries 2.4 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.
OFIX vs QQQ: side by side
| OFIX (Orthofix Medical Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -35.1% | +26.3% |
| 5-year return | -76.9% | +95.4% |
| Volatility (ann.) | 47.8% | 19.6% |
| Beta vs S&P 500 | 1.15 | 1.28 |
| Max drawdown (3Y) | -58.1% | -22.8% |
| Market cap | $0.4B | – |
| 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 | OFIX | QQQ |
|---|---|---|
| 2022 | -34.0% | -32.6% |
| 2023 | -34.3% | +54.9% |
| 2024 | +29.5% | +25.6% |
| 2025 | -13.2% | +20.8% |
| 2026 | -36.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OFIX and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between OFIX and QQQ?
Using weekly returns as of 2026-08-27: 0.24 over 3 years, with 0.00 over the last year and 0.31 over 5 years.
Is QQQ a good diversifier for OFIX?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.24 mean?
A reading of 0.24 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/ofix-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ofix-vs-qqq/)
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Related comparisons
Hubs: OFIX correlations · QQQ correlations
