QQQ vs ZBH: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Zimmer Biomet (ZBH) carry a correlation of 0.19, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and ZBH?
Over the past 3 years, QQQ and ZBH moved with a correlation of 0.19, which is weak. The relationship has been stable: the 1-year correlation (0.13) sits close to the 3-year figure. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 94.5 %².
By 3-year correlation, ZBH places #2995 of the 4755 assets tracked against QQQ. Correlation aside, the last 12 months split them widely, with QQQ ahead by 32.2 points (+26.3% versus -5.9%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.04 and 0.54 over the past three years, so this pair behaves very differently depending on the market environment.
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 ZBH: side by side
| QQQ (Invesco QQQ Trust) | ZBH (Zimmer Biomet) | |
|---|---|---|
| 1-year return | +26.3% | -5.9% |
| 5-year return | +95.4% | -28.6% |
| Volatility (ann.) | 19.6% | 24.9% |
| Beta vs S&P 500 | 1.28 | 0.51 |
| Max drawdown (3Y) | -22.8% | -38.8% |
| Market cap | – | $19.0B |
| P/E (trailing) | – | 24.6 |
| Dividend yield | 0.44% | 0.95% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Health Care |
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 | ZBH |
|---|---|---|
| 2022 | -32.6% | +4.2% |
| 2023 | +54.9% | -3.8% |
| 2024 | +25.6% | -12.5% |
| 2025 | +20.8% | -14.0% |
| 2026 | +17.7% | +11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and ZBH good diversifiers for each other?
Yes: at 0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and ZBH?
As of 2026-08-27, the correlation of weekly returns between QQQ and ZBH is 0.19 over 3 years, 0.13 over 1 year and 0.36 over 5 years.
Is ZBH a good diversifier for QQQ?
Yes: at 0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.19 mean?
A reading of 0.19 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-zbh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-zbh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · ZBH correlations
