DNOW vs QQQ: Correlation
Measured on weekly returns over the past three years, DNOW Inc. (DNOW) and Invesco QQQ Trust (QQQ) carry a correlation of 0.20, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DNOW and QQQ?
Over the past 3 years, DNOW and QQQ moved with a correlation of 0.20, which is weak. The past 12 months show a weaker link (0.04) than the 3-year average (0.20). Over 5 years the correlation is 0.22, and the annualized covariance of weekly returns is 167.9 %².
Out of 10 assets tracked against DNOW, QQQ lands near the bottom at #7. Correlation aside, the last 12 months split them widely, with QQQ ahead by 24.2 points (+2.1% versus +26.3%). Risk is not evenly split, since DNOW carries 2.2 times the volatility of the other side.
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.
DNOW vs QQQ: side by side
| DNOW (DNOW Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +2.1% | +26.3% |
| 5-year return | +111.4% | +95.4% |
| Volatility (ann.) | 43.7% | 19.6% |
| Beta vs S&P 500 | 0.83 | 1.28 |
| Max drawdown (3Y) | -36.8% | -22.8% |
| Market cap | $2.9B | – |
| P/E (trailing) | – | – |
| 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 | DNOW | QQQ |
|---|---|---|
| 2022 | +48.7% | -32.6% |
| 2023 | -10.9% | +54.9% |
| 2024 | +14.9% | +25.6% |
| 2025 | +1.8% | +20.8% |
| 2026 | +22.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DNOW and QQQ good diversifiers for each other?
Reasonably. At 0.20, DNOW and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DNOW and QQQ?
As of 2026-08-27, the correlation of weekly returns between DNOW and QQQ is 0.20 over 3 years, 0.04 over 1 year and 0.22 over 5 years.
Is QQQ a good diversifier for DNOW?
Reasonably. At 0.20, DNOW and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.20 mean?
On the −1 to +1 scale, 0.20 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
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Related comparisons
Hubs: DNOW correlations · QQQ correlations
