QQQ vs TFX: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Teleflex Incorporated (TFX) carry a correlation of 0.26, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TFX?
Over the past 3 years, QQQ and TFX moved with a correlation of 0.26, which is weak. Little has changed lately, as the 1-year reading of 0.22 lands near the 3-year figure. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 180.1 %².
By 3-year correlation, TFX places #2042 of the 4755 assets tracked against QQQ. Correlation aside, the last 12 months split them widely, with QQQ ahead by 18.8 points (+26.3% versus +7.5%). Note the risk asymmetry: TFX runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 TFX: side by side
| QQQ (Invesco QQQ Trust) | TFX (Teleflex Incorporated) | |
|---|---|---|
| 1-year return | +26.3% | +7.5% |
| 5-year return | +95.4% | -63.6% |
| Volatility (ann.) | 19.6% | 35.0% |
| Beta vs S&P 500 | 1.28 | 0.75 |
| Max drawdown (3Y) | -22.8% | -60.1% |
| Market cap | – | $5.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 0.98% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
QQQ, Invesco's Large Growth fund, carries $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | TFX |
|---|---|---|
| 2022 | -32.6% | -23.6% |
| 2023 | +54.9% | +0.5% |
| 2024 | +25.6% | -28.2% |
| 2025 | +20.8% | -30.7% |
| 2026 | +17.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TFX good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and TFX?
The QQQ/TFX correlation stands at 0.26 on a 3-year window (1 year: 0.22, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is TFX a good diversifier for QQQ?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 mean?
On the −1 to +1 scale, 0.26 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/qqq-vs-tfx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-tfx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · TFX correlations
