DDOG vs QQQ: Correlation
Datadog (DDOG) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DDOG and QQQ?
On 3 years of weekly data the DDOG/QQQ correlation comes out at 0.42, moderate. The link has loosened recently: the 1-year correlation (0.26) runs below the 3-year figure (0.42). The 5-year figure is 0.55, and annualized covariance runs at 447.2 %².
Among the 30 assets we track against DDOG, QQQ ranks #18 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DDOG ahead by 58.1 points (+84.4% versus +26.3%). Across three years, the rolling one-year figure varied moderately, from 0.24 to 0.65. One caveat on sizing: DDOG is 2.8 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.
DDOG vs QQQ: side by side
| DDOG (Datadog) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +84.4% | +26.3% |
| 5-year return | +77.8% | +95.4% |
| Volatility (ann.) | 54.6% | 19.6% |
| Beta vs S&P 500 | 1.37 | 1.28 |
| Max drawdown (3Y) | -48.6% | -22.8% |
| Market cap | $87.2B | – |
| P/E (trailing) | 458.4 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Information Technology | 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 | DDOG | QQQ |
|---|---|---|
| 2022 | -58.7% | -32.6% |
| 2023 | +65.1% | +54.9% |
| 2024 | +17.7% | +25.6% |
| 2025 | -4.8% | +20.8% |
| 2026 | +78.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that QQQ holds DDOG at a 0.33% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are DDOG 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 DDOG and QQQ?
The DDOG/QQQ correlation stands at 0.42 on a 3-year window (1 year: 0.26, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for DDOG?
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?
A reading of 0.42 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
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Related comparisons
Hubs: DDOG correlations · QQQ correlations
