DBX vs QQQ: Correlation
How closely do Dropbox, Inc. (DBX) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DBX and QQQ?
Over the past 3 years, DBX and QQQ moved with a correlation of 0.38, which is moderate. Little has changed lately, as the 1-year reading of 0.33 lands near the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 240.7 %².
Among the 18 assets we track against DBX, QQQ ranks #9 by 3-year correlation. Their 12-month results are close: +24.5% for DBX against +26.3% for QQQ. Note the risk asymmetry: DBX runs 1.7 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.
DBX vs QQQ: side by side
| DBX (Dropbox, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +24.5% | +26.3% |
| 5-year return | +14.9% | +95.4% |
| Volatility (ann.) | 32.7% | 19.6% |
| Beta vs S&P 500 | 0.86 | 1.28 |
| Max drawdown (3Y) | -37.4% | -22.8% |
| Market cap | $7.8B | – |
| P/E (trailing) | 19.2 | – |
| 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 | DBX | QQQ |
|---|---|---|
| 2022 | -8.8% | -32.6% |
| 2023 | +31.7% | +54.9% |
| 2024 | +1.9% | +25.6% |
| 2025 | -7.5% | +20.8% |
| 2026 | +29.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DBX and QQQ good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DBX and QQQ?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.33 over the last year and 0.48 over 5 years.
Is QQQ a good diversifier for DBX?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
A reading of 0.38 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/dbx-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dbx-vs-qqq/)
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Related comparisons
Hubs: DBX correlations · QQQ correlations
