DLTR vs QQQ: Correlation
Measured on weekly returns over the past three years, Dollar Tree (DLTR) and Invesco QQQ Trust (QQQ) carry a correlation of 0.23, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLTR and QQQ?
Over the past 3 years, DLTR and QQQ moved with a correlation of 0.23, which is weak. Lately the two have drifted apart, with the 1-year correlation at 0.12 versus 0.23 over 3 years. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 166.8 %².
By 3-year correlation, QQQ places #21 of the 32 assets tracked against DLTR. The trailing year gives QQQ the advantage: +12.5% versus +26.3%, a 13.8-point spread. The rolling one-year correlation moved between 0.09 and 0.43 over the past three years, a moderate range. One caveat on sizing: DLTR is 1.9 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.
DLTR vs QQQ: side by side
| DLTR (Dollar Tree) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +12.5% | +26.3% |
| 5-year return | +39.7% | +95.4% |
| Volatility (ann.) | 37.3% | 19.6% |
| Beta vs S&P 500 | 0.70 | 1.28 |
| Max drawdown (3Y) | -59.2% | -22.8% |
| Market cap | $23.8B | – |
| P/E (trailing) | 21.2 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Consumer Staples | 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 | DLTR | QQQ |
|---|---|---|
| 2022 | +0.7% | -32.6% |
| 2023 | +0.4% | +54.9% |
| 2024 | -47.2% | +25.6% |
| 2025 | +64.1% | +20.8% |
| 2026 | +3.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLTR and QQQ good diversifiers for each other?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DLTR and QQQ?
As of 2026-08-27, the correlation of weekly returns between DLTR and QQQ is 0.23 over 3 years, 0.12 over 1 year and 0.30 over 5 years.
Is QQQ a good diversifier for DLTR?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.23 mean?
A reading of 0.23 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/dltr-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dltr-vs-qqq/)
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Related comparisons
Hubs: DLTR correlations · QQQ correlations
