PRVA vs QQQ: Correlation
How closely do Privia Health Group, Inc. (PRVA) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.26, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRVA and QQQ?
Across a 3-year window, the weekly returns of PRVA and QQQ correlate at 0.26, weak. The link has loosened recently: the 1-year correlation (0.12) runs below the 3-year figure (0.26). Stretching to 5 years gives 0.29, with an annualized covariance of 178.4 %².
Among the 11 assets we track against PRVA, QQQ sits near the bottom by co-movement, at rank #8. The last year tells two different stories: QQQ led by 30.4 percentage points, -4.1% for PRVA against +26.3% for QQQ. Risk is not evenly split, since PRVA carries 1.8 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.
PRVA vs QQQ: side by side
| PRVA (Privia Health Group, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -4.1% | +26.3% |
| 5-year return | -36.0% | +95.4% |
| Volatility (ann.) | 34.7% | 19.6% |
| Beta vs S&P 500 | 0.73 | 1.28 |
| Max drawdown (3Y) | -40.0% | -22.8% |
| Market cap | $2.7B | – |
| P/E (trailing) | 94.8 | – |
| 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 | PRVA | QQQ |
|---|---|---|
| 2022 | -12.2% | -32.6% |
| 2023 | +1.4% | +54.9% |
| 2024 | -15.1% | +25.6% |
| 2025 | +21.3% | +20.8% |
| 2026 | -12.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRVA and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PRVA and QQQ?
The PRVA/QQQ correlation stands at 0.26 on a 3-year window (1 year: 0.12, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for PRVA?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.26 mean?
A reading of 0.26 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: PRVA correlations · QQQ correlations
