DSX vs QQQ: Correlation
How closely do Diana Shipping inc. (DSX) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.28, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSX and QQQ?
Across a 3-year window, the weekly returns of DSX and QQQ correlate at 0.28, weak. The relationship has been stable: the 1-year correlation (0.23) sits close to the 3-year figure. Stretching to 5 years gives 0.21, with an annualized covariance of 212.5 %².
QQQ is close to the least connected end of DSX's tracked universe, ranking #9 of 13. The last year tells two different stories: DSX led by 39.7 percentage points, +66.0% for DSX against +26.3% for QQQ. Note the risk asymmetry: DSX runs 2.0 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.
DSX vs QQQ: side by side
| DSX (Diana Shipping inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +66.0% | +26.3% |
| 5-year return | -10.5% | +95.4% |
| Volatility (ann.) | 38.7% | 19.6% |
| Beta vs S&P 500 | 0.89 | 1.28 |
| Max drawdown (3Y) | -60.1% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 5.5 | – |
| Dividend yield | 1.50% | 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 | DSX | QQQ |
|---|---|---|
| 2022 | +18.2% | -32.6% |
| 2023 | -15.0% | +54.9% |
| 2024 | -28.1% | +25.6% |
| 2025 | -13.7% | +20.8% |
| 2026 | +64.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSX and QQQ good diversifiers for each other?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DSX and QQQ?
The DSX/QQQ correlation stands at 0.28 on a 3-year window (1 year: 0.23, 5 years: 0.21), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for DSX?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 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: DSX correlations · QQQ correlations
