DLR vs QQQ: Correlation
How closely do Digital Realty (DLR) 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 DLR and QQQ?
Across a 3-year window, the weekly returns of DLR and QQQ correlate at 0.38, moderate. The link has loosened recently: the 1-year correlation (0.21) runs below the 3-year figure (0.38). Stretching to 5 years gives 0.50, with an annualized covariance of 203.4 %².
Within DLR's tracked universe of 30 assets, QQQ comes in at #18 by 3-year correlation. Over the last 12 months QQQ came out ahead by 9.9 percentage points (+16.4% against +26.3%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.18 and 0.69 over the past three years, so this pair behaves very differently depending on the market environment.
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.
DLR vs QQQ: side by side
| DLR (Digital Realty) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +16.4% | +26.3% |
| 5-year return | +40.3% | +95.4% |
| Volatility (ann.) | 27.1% | 19.6% |
| Beta vs S&P 500 | 0.73 | 1.28 |
| Max drawdown (3Y) | -29.4% | -22.8% |
| Market cap | $72.5B | – |
| P/E (trailing) | 94.2 | – |
| Dividend yield | 2.52% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Real Estate | 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 | DLR | QQQ |
|---|---|---|
| 2022 | -41.0% | -32.6% |
| 2023 | +39.9% | +54.9% |
| 2024 | +35.9% | +25.6% |
| 2025 | -10.1% | +20.8% |
| 2026 | +25.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLR and QQQ good diversifiers for each other?
Reasonably. At 0.38, DLR and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DLR and QQQ?
The DLR/QQQ correlation stands at 0.38 on a 3-year window (1 year: 0.21, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for DLR?
Reasonably. At 0.38, DLR and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/dlr-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dlr-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DLR correlations · QQQ correlations
