QQQ vs WVE: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Wave Life Sciences, Inc. (WVE) carry a correlation of 0.18, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and WVE?
Across a 3-year window, the weekly returns of QQQ and WVE correlate at 0.18, weak. Little has changed lately, as the 1-year reading of 0.10 lands near the 3-year figure. Stretching to 5 years gives 0.16, with an annualized covariance of 408.6 %².
Among the 4755 assets we track against QQQ, WVE ranks #3111 by 3-year correlation. The last year tells two different stories: QQQ led by 75.1 percentage points, +26.3% for QQQ against -48.8% for WVE. One caveat on sizing: WVE is 5.8 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 WVE: side by side
| QQQ (Invesco QQQ Trust) | WVE (Wave Life Sciences, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -48.8% |
| 5-year return | +95.4% | -15.0% |
| Volatility (ann.) | 19.6% | 113.5% |
| Beta vs S&P 500 | 1.28 | 1.84 |
| Max drawdown (3Y) | -22.8% | -76.3% |
| Market cap | – | $1.0B |
| 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 |
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 | WVE |
|---|---|---|
| 2022 | -32.6% | +122.9% |
| 2023 | +54.9% | -27.9% |
| 2024 | +25.6% | +145.0% |
| 2025 | +20.8% | +37.4% |
| 2026 | +17.7% | -69.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and WVE good diversifiers for each other?
Yes. With a correlation of 0.18, QQQ and WVE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QQQ and WVE?
The QQQ/WVE correlation stands at 0.18 on a 3-year window (1 year: 0.10, 5 years: 0.16), computed from weekly returns as of 2026-08-27.
Is WVE a good diversifier for QQQ?
Yes. With a correlation of 0.18, QQQ and WVE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.18 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-wve.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-wve/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · WVE correlations
