DB vs QQQ: Correlation
How closely do Deutsche Bank AG (DB) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DB and QQQ?
On 3 years of weekly data the DB/QQQ correlation comes out at 0.42, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.53 versus 0.42 over 3 years. The 5-year figure is 0.40, and annualized covariance runs at 268.5 %².
QQQ is close to the least connected end of DB's tracked universe, ranking #8 of 11. The trailing year gives QQQ the advantage: +18.5% versus +26.3%, a 7.8-point spread. One caveat on sizing: DB is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
DB vs QQQ: side by side
| DB (Deutsche Bank AG) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +18.5% | +26.3% |
| 5-year return | +278.5% | +95.4% |
| Volatility (ann.) | 32.7% | 19.6% |
| Beta vs S&P 500 | 1.08 | 1.28 |
| Max drawdown (3Y) | -29.7% | -22.8% |
| Market cap | $75.3B | – |
| P/E (trailing) | 10.5 | – |
| Dividend yield | 2.49% | 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 | DB | QQQ |
|---|---|---|
| 2022 | -5.9% | -32.6% |
| 2023 | +21.3% | +54.9% |
| 2024 | +29.5% | +25.6% |
| 2025 | +132.4% | +20.8% |
| 2026 | +7.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DB and QQQ good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DB and QQQ?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.53 over the last year and 0.40 over 5 years.
Is QQQ a good diversifier for DB?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/db-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/db-vs-qqq/)
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Related comparisons
Hubs: DB correlations · QQQ correlations
