QQQ vs XFOR: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and X4 Pharmaceuticals, Inc. (XFOR) 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 XFOR?
Over the past 3 years, QQQ and XFOR moved with a correlation of 0.18, which is weak. The past 12 months show a tighter link (0.39) than the 3-year average (0.18). Over 5 years the correlation is 0.19, and the annualized covariance of weekly returns is 430.5 %².
Among the 4755 assets we track against QQQ, XFOR ranks #3112 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 26.3 points (+26.3% versus +0.0%). Risk is not evenly split, since XFOR carries 6.2 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 XFOR: side by side
| QQQ (Invesco QQQ Trust) | XFOR (X4 Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +0.0% |
| 5-year return | +95.4% | -97.2% |
| Volatility (ann.) | 19.6% | 121.6% |
| Beta vs S&P 500 | 1.28 | 1.66 |
| Max drawdown (3Y) | -22.8% | -96.8% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | 2.9 |
| 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 | XFOR |
|---|---|---|
| 2022 | -32.6% | -56.6% |
| 2023 | +54.9% | -15.5% |
| 2024 | +25.6% | -12.5% |
| 2025 | +20.8% | -81.8% |
| 2026 | +17.7% | +5.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and XFOR good diversifiers for each other?
Yes: at 0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and XFOR?
Using weekly returns as of 2026-08-27: 0.18 over 3 years, with 0.39 over the last year and 0.19 over 5 years.
Is XFOR a good diversifier for QQQ?
Yes: at 0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.18 mean?
On the −1 to +1 scale, 0.18 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-xfor.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-xfor/)
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Related comparisons
Hubs: QQQ correlations · XFOR correlations
