QQQ vs VREX: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Varex Imaging Corporation (VREX) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and VREX?
Over the past 3 years, QQQ and VREX moved with a correlation of 0.41, which is moderate. The past 12 months show a weaker link (0.26) than the 3-year average (0.41). Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 475.4 %².
By 3-year correlation, VREX places #588 of the 4755 assets tracked against QQQ. The last year tells two different stories: VREX led by 35.2 percentage points, +26.3% for QQQ against +61.5% for VREX. Risk is not evenly split, since VREX carries 3.0 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.
QQQ vs VREX: side by side
| QQQ (Invesco QQQ Trust) | VREX (Varex Imaging Corporation) | |
|---|---|---|
| 1-year return | +26.3% | +61.5% |
| 5-year return | +95.4% | -36.0% |
| Volatility (ann.) | 19.6% | 58.7% |
| Beta vs S&P 500 | 1.28 | 1.91 |
| Max drawdown (3Y) | -22.8% | -67.8% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | 34.9 |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
On the fund side, QQQ sits in the Large Growth category at Invesco, with $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | VREX |
|---|---|---|
| 2022 | -32.6% | -35.7% |
| 2023 | +54.9% | +1.0% |
| 2024 | +25.6% | -28.8% |
| 2025 | +20.8% | -20.2% |
| 2026 | +17.7% | +58.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and VREX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and VREX?
As of 2026-08-27, the correlation of weekly returns between QQQ and VREX is 0.41 over 3 years, 0.26 over 1 year and 0.34 over 5 years.
Is VREX a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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-vrex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqq-vs-vrex/)
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Related comparisons
Hubs: QQQ correlations · VREX correlations
