QQQ vs TDOC: Correlation
Invesco QQQ Trust (QQQ) and Teladoc Health, Inc. (TDOC) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TDOC?
On 3 years of weekly data the QQQ/TDOC correlation comes out at 0.37, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.48 versus 0.37 over 3 years. The 5-year figure is 0.52, and annualized covariance runs at 422.3 %².
Among the 4755 assets we track against QQQ, TDOC ranks #878 by 3-year correlation. The last year tells two different stories: QQQ led by 44.1 percentage points, +26.3% for QQQ against -17.8% for TDOC. One caveat on sizing: TDOC is 3.0 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.
QQQ vs TDOC: side by side
| QQQ (Invesco QQQ Trust) | TDOC (Teladoc Health, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -17.8% |
| 5-year return | +95.4% | -95.6% |
| Volatility (ann.) | 19.6% | 58.1% |
| Beta vs S&P 500 | 1.28 | 1.55 |
| Max drawdown (3Y) | -22.8% | -80.5% |
| Market cap | – | $1.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
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 | QQQ | TDOC |
|---|---|---|
| 2022 | -32.6% | -74.2% |
| 2023 | +54.9% | -8.9% |
| 2024 | +25.6% | -57.8% |
| 2025 | +20.8% | -23.0% |
| 2026 | +17.7% | -9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TDOC good diversifiers for each other?
Reasonably. At 0.37, QQQ and TDOC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and TDOC?
As of 2026-08-27, the correlation of weekly returns between QQQ and TDOC is 0.37 over 3 years, 0.48 over 1 year and 0.52 over 5 years.
Is TDOC a good diversifier for QQQ?
Reasonably. At 0.37, QQQ and TDOC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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.
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Related comparisons
Hubs: QQQ correlations · TDOC correlations
