OMCL vs QQQ: Correlation
How closely do Omnicell, Inc. (OMCL) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.11, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OMCL and QQQ?
On 3 years of weekly data the OMCL/QQQ correlation comes out at 0.11, weak. The past 12 months show a tighter link (0.29) than the 3-year average (0.11). The 5-year figure is 0.28, and annualized covariance runs at 110.3 %².
QQQ is close to the least connected end of OMCL's tracked universe, ranking #8 of 12. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 25.8 percentage points (+0.5% for OMCL against +26.3% for QQQ). Risk is not evenly split, since OMCL carries 2.5 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.
OMCL vs QQQ: side by side
| OMCL (Omnicell, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +0.5% | +26.3% |
| 5-year return | -78.5% | +95.4% |
| Volatility (ann.) | 49.5% | 19.6% |
| Beta vs S&P 500 | 0.53 | 1.28 |
| Max drawdown (3Y) | -58.4% | -22.8% |
| Market cap | $1.5B | – |
| P/E (trailing) | 39.8 | – |
| 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 | OMCL | QQQ |
|---|---|---|
| 2022 | -72.1% | -32.6% |
| 2023 | -25.4% | +54.9% |
| 2024 | +18.3% | +25.6% |
| 2025 | +1.8% | +20.8% |
| 2026 | -26.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OMCL and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.11 means the two rarely move for the same reasons.
FAQ
What is the correlation between OMCL and QQQ?
As of 2026-08-27, the correlation of weekly returns between OMCL and QQQ is 0.11 over 3 years, 0.29 over 1 year and 0.28 over 5 years.
Is QQQ a good diversifier for OMCL?
By historical standards, yes. A correlation of 0.11 means the two rarely move for the same reasons.
What does a correlation of 0.11 mean?
A reading of 0.11 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: OMCL correlations · QQQ correlations
