DSL vs QQQ: Correlation
How closely do DoubleLine Income Solutions Fund (DSL) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSL and QQQ?
Across a 3-year window, the weekly returns of DSL and QQQ correlate at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. Stretching to 5 years gives 0.49, with an annualized covariance of 119.1 %².
By 3-year correlation, QQQ places #25 of the 30 assets tracked against DSL. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 30.0 percentage points (-3.7% for DSL against +26.3% for QQQ). Note the risk asymmetry: QQQ runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
DSL vs QQQ: side by side
| DSL (DoubleLine Income Solutions Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -3.7% | +26.3% |
| 5-year return | +5.8% | +95.4% |
| Volatility (ann.) | 12.2% | 19.6% |
| Beta vs S&P 500 | 0.49 | 1.28 |
| Max drawdown (3Y) | -13.5% | -22.8% |
| Market cap | $1.2B | – |
| P/E (trailing) | 33.2 | – |
| 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 | DSL | QQQ |
|---|---|---|
| 2022 | -22.6% | -32.6% |
| 2023 | +23.4% | +54.9% |
| 2024 | +14.0% | +25.6% |
| 2025 | -0.0% | +20.8% |
| 2026 | +2.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSL and QQQ good diversifiers for each other?
Only partially. A correlation of 0.50 means DSL and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DSL and QQQ?
As of 2026-08-27, the correlation of weekly returns between DSL and QQQ is 0.50 over 3 years, 0.58 over 1 year and 0.49 over 5 years.
Is QQQ a good diversifier for DSL?
Only partially. A correlation of 0.50 means DSL and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 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/dsl-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dsl-vs-qqq/)
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Related comparisons
Hubs: DSL correlations · QQQ correlations
