PRLB vs QQQ: Correlation
Measured on weekly returns over the past three years, Proto Labs, Inc. (PRLB) and Invesco QQQ Trust (QQQ) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRLB and QQQ?
Across a 3-year window, the weekly returns of PRLB and QQQ correlate at 0.39, moderate. Little has changed lately, as the 1-year reading of 0.32 lands near the 3-year figure. Stretching to 5 years gives 0.39, with an annualized covariance of 381.2 %².
QQQ is close to the least connected end of PRLB's tracked universe, ranking #13 of 17. Their recent paths diverged sharply: over the last 12 months PRLB outperformed by 31.3 percentage points (+57.6% for PRLB against +26.3% for QQQ). One caveat on sizing: PRLB is 2.6 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.
PRLB vs QQQ: side by side
| PRLB (Proto Labs, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +57.6% | +26.3% |
| 5-year return | +10.1% | +95.4% |
| Volatility (ann.) | 50.3% | 19.6% |
| Beta vs S&P 500 | 1.52 | 1.28 |
| Max drawdown (3Y) | -33.6% | -22.8% |
| Market cap | $1.9B | – |
| P/E (trailing) | 62.6 | – |
| 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 | PRLB | QQQ |
|---|---|---|
| 2022 | -50.3% | -32.6% |
| 2023 | +52.6% | +54.9% |
| 2024 | +0.3% | +25.6% |
| 2025 | +29.4% | +20.8% |
| 2026 | +58.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRLB and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PRLB and QQQ?
As of 2026-08-27, the correlation of weekly returns between PRLB and QQQ is 0.39 over 3 years, 0.32 over 1 year and 0.39 over 5 years.
Is QQQ a good diversifier for PRLB?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/prlb-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/prlb-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PRLB correlations · QQQ correlations
