ELV vs. QQQ
ELV (Elevance Health Inc) is a stock, while QQQ (Invesco QQQ ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, ELV returned 13.52%/yr vs 21.84%/yr for QQQ. At a 0.34 correlation, their price movements are largely independent.
Performance
ELV vs. QQQ - Performance Comparison
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Returns By Period
In the year-to-date period, ELV achieves a 17.52% return, which is significantly lower than QQQ's 20.71% return. Over the past 10 years, ELV has underperformed QQQ with an annualized return of 13.52%, while QQQ has yielded a comparatively higher 21.84% annualized return.
ELV
- 1D
- 4.64%
- 1M
- 10.94%
- YTD
- 17.52%
- 6M
- 24.17%
- 1Y
- 10.03%
- 3Y*
- -3.65%
- 5Y*
- 2.25%
- 10Y*
- 13.52%
QQQ
- 1D
- -0.48%
- 1M
- 8.66%
- YTD
- 20.71%
- 6M
- 19.19%
- 1Y
- 40.74%
- 3Y*
- 28.54%
- 5Y*
- 17.86%
- 10Y*
- 21.84%
ELV vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ELV Elevance Health Inc | 17.52% | -3.14% | -20.72% | -6.89% | 11.83% | 46.12% | 7.74% | 16.33% | 18.11% | 58.72% |
QQQ Invesco QQQ ETF | 20.71% | 20.77% | 25.58% | 54.86% | -32.58% | 27.42% | 48.62% | 38.96% | -0.13% | 32.66% |
Correlation
The correlation between ELV and QQQ is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2001 | 0.34 |
Over the past year, the correlation between ELV and QQQ has dropped to 0.07 - well below their long-term average of 0.34, suggesting their price drivers have been diverging.
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Return for Risk
ELV vs. QQQ — Risk / Return Rank
ELV
QQQ
ELV vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Elevance Health Inc (ELV) and Invesco QQQ ETF (QQQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| ELV | QQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.31 | ||
| Sortino ratioReturn per unit of downside risk | -2.80 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.44 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 0.33 | 3.42 | -3.09 |
| Martin ratioReturn relative to average drawdown | 0.60 | 13.14 | -12.54 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ELV | QQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | 2.57 | -2.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.80 | -0.72 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | 0.98 | -0.54 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.41 | +0.05 |
Drawdowns
ELV vs. QQQ - Drawdown Comparison
The maximum ELV drawdown since its inception was -67.19%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for ELV and QQQ.
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Drawdown Indicators
| ELV | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.19% | -82.97% | +15.78% |
Max Drawdown (1Y)Largest decline over 1 year | -30.60% | -11.96% | -18.64% |
Max Drawdown (3Y)Largest decline over 3 years | -50.38% | -22.77% | -27.61% |
Max Drawdown (5Y)Largest decline over 5 years | -50.38% | -35.12% | -15.26% |
Max Drawdown (10Y)Largest decline over 10 years | -50.38% | -35.12% | -15.26% |
Current DrawdownCurrent decline from peak | -24.79% | -0.74% | -24.05% |
Average DrawdownAverage peak-to-trough decline | -15.29% | -32.78% | +17.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.76% | 3.11% | +13.65% |
Volatility
ELV vs. QQQ - Volatility Comparison
Elevance Health Inc (ELV) has a higher volatility of 8.36% compared to Invesco QQQ ETF (QQQ) at 4.51%. This indicates that ELV's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ELV | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.36% | 4.51% | +3.85% |
Volatility (6M)Calculated over the trailing 6-month period | 27.23% | 12.10% | +15.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.56% | 15.94% | +22.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.93% | 22.37% | +6.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.83% | 22.29% | +8.54% |
Dividends
ELV vs. QQQ - Dividend Comparison
ELV's dividend yield for the trailing twelve months is around 1.67%, more than QQQ's 0.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ELV Elevance Health Inc | 1.67% | 1.95% | 1.77% | 1.26% | 1.00% | 0.98% | 1.18% | 1.06% | 1.14% | 1.20% | 1.81% | 1.79% |
QQQ Invesco QQQ ETF | 0.38% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
Frequently Asked Questions
ELV and QQQ have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ELV has higher volatility (8.36%) compared to QQQ (4.51%). In terms of maximum drawdown, ELV dropped -67.19% vs QQQ's -82.97%.
QQQ currently has the higher Sharpe Ratio (2.57 vs 0.26), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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