DAVE vs QQQ: Correlation
Dave Inc. (DAVE) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DAVE and QQQ?
Across a 3-year window, the weekly returns of DAVE and QQQ correlate at 0.25, weak. The relationship has been stable: the 1-year correlation (0.33) sits close to the 3-year figure. Stretching to 5 years gives 0.30, with an annualized covariance of 499.6 %².
Among the 11 assets we track against DAVE, QQQ sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months DAVE outperformed by 53.7 percentage points (+80.0% for DAVE against +26.3% for QQQ). Note the risk asymmetry: DAVE runs 5.1 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.
DAVE vs QQQ: side by side
| DAVE (Dave Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +80.0% | +26.3% |
| 5-year return | +18.4% | +95.4% |
| Volatility (ann.) | 100.5% | 19.6% |
| Beta vs S&P 500 | 2.12 | 1.28 |
| Max drawdown (3Y) | -44.7% | -22.8% |
| Market cap | $4.8B | – |
| P/E (trailing) | 24.0 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | DAVE | QQQ |
|---|---|---|
| 2022 | -97.2% | -32.6% |
| 2023 | -9.6% | +54.9% |
| 2024 | +936.6% | +25.6% |
| 2025 | +154.7% | +20.8% |
| 2026 | +68.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DAVE and QQQ good diversifiers for each other?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DAVE and QQQ?
Using weekly returns as of 2026-08-27: 0.25 over 3 years, with 0.33 over the last year and 0.30 over 5 years.
Is QQQ a good diversifier for DAVE?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.25 mean?
On the −1 to +1 scale, 0.25 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/dave-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dave-vs-qqq/)
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Related comparisons
Hubs: DAVE correlations · QQQ correlations
