QQQ vs XGN: Correlation
How closely do Invesco QQQ Trust (QQQ) and Exagen Inc. (XGN) trade together? Their weekly returns over three years give a correlation of 0.22, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and XGN?
Across a 3-year window, the weekly returns of QQQ and XGN correlate at 0.22, weak. The link has tightened recently: the 1-year correlation (0.37) runs above the 3-year figure (0.22). Stretching to 5 years gives 0.22, with an annualized covariance of 389.2 %².
Within QQQ's tracked universe of 4755 assets, XGN comes in at #2618 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 47.6 points (+26.3% versus -21.3%). Note the risk asymmetry: XGN runs 4.5 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 XGN: side by side
| QQQ (Invesco QQQ Trust) | XGN (Exagen Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -21.3% |
| 5-year return | +95.4% | -47.1% |
| Volatility (ann.) | 19.6% | 88.9% |
| Beta vs S&P 500 | 1.28 | 1.41 |
| Max drawdown (3Y) | -22.8% | -77.8% |
| Market cap | – | $0.2B |
| 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, 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 | XGN |
|---|---|---|
| 2022 | -32.6% | -79.4% |
| 2023 | +54.9% | -17.1% |
| 2024 | +25.6% | +106.0% |
| 2025 | +20.8% | +48.3% |
| 2026 | +17.7% | +23.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and XGN good diversifiers for each other?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and XGN?
As of 2026-08-27, the correlation of weekly returns between QQQ and XGN is 0.22 over 3 years, 0.37 over 1 year and 0.22 over 5 years.
Is XGN a good diversifier for QQQ?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.22 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-xgn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-xgn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · XGN correlations
