DOCN vs QQQ: Correlation
How closely do DigitalOcean Holdings, Inc. (DOCN) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOCN and QQQ?
Over the past 3 years, DOCN and QQQ moved with a correlation of 0.41, which is moderate. The link has loosened recently: the 1-year correlation (0.28) runs below the 3-year figure (0.41). Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 514.6 %².
By 3-year correlation, QQQ places #9 of the 16 assets tracked against DOCN. Correlation aside, the last 12 months split them widely, with DOCN ahead by 249.7 points (+276.0% versus +26.3%). One caveat on sizing: DOCN 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.
DOCN vs QQQ: side by side
| DOCN (DigitalOcean Holdings, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +276.0% | +26.3% |
| 5-year return | +95.5% | +95.4% |
| Volatility (ann.) | 64.8% | 19.6% |
| Beta vs S&P 500 | 1.71 | 1.28 |
| Max drawdown (3Y) | -44.9% | -22.8% |
| Market cap | $14.3B | – |
| P/E (trailing) | 52.4 | – |
| 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 | DOCN | QQQ |
|---|---|---|
| 2022 | -68.3% | -32.6% |
| 2023 | +44.1% | +54.9% |
| 2024 | -7.1% | +25.6% |
| 2025 | +41.2% | +20.8% |
| 2026 | +152.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOCN and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DOCN and QQQ?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.28 over the last year and 0.51 over 5 years.
Is QQQ a good diversifier for DOCN?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: DOCN correlations · QQQ correlations
