DNUT vs QQQ: Correlation
Measured on weekly returns over the past three years, Krispy Kreme, Inc. (DNUT) and Invesco QQQ Trust (QQQ) carry a correlation of 0.24, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DNUT and QQQ?
Over the past 3 years, DNUT and QQQ moved with a correlation of 0.24, which is weak. The relationship has been stable: the 1-year correlation (0.24) sits close to the 3-year figure. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 303.0 %².
QQQ is close to the least connected end of DNUT's tracked universe, ranking #10 of 13. The last year tells two different stories: QQQ led by 31.3 percentage points, -5.0% for DNUT against +26.3% for QQQ. One caveat on sizing: DNUT is 3.3 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.
DNUT vs QQQ: side by side
| DNUT (Krispy Kreme, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -5.0% | +26.3% |
| 5-year return | -78.8% | +95.4% |
| Volatility (ann.) | 64.8% | 19.6% |
| Beta vs S&P 500 | 1.27 | 1.28 |
| Max drawdown (3Y) | -84.9% | -22.8% |
| Market cap | $0.6B | – |
| 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 | DNUT | QQQ |
|---|---|---|
| 2022 | -44.9% | -32.6% |
| 2023 | +47.7% | +54.9% |
| 2024 | -33.4% | +25.6% |
| 2025 | -59.0% | +20.8% |
| 2026 | -14.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DNUT and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DNUT and QQQ?
As of 2026-08-27, the correlation of weekly returns between DNUT and QQQ is 0.24 over 3 years, 0.24 over 1 year and 0.30 over 5 years.
Is QQQ a good diversifier for DNUT?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.24 mean?
On the −1 to +1 scale, 0.24 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/dnut-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dnut-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DNUT correlations · QQQ correlations
