DX vs QQQ: Correlation
Measured on weekly returns over the past three years, Dynex Capital, Inc. (DX) and Invesco QQQ Trust (QQQ) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DX and QQQ?
Over the past 3 years, DX and QQQ moved with a correlation of 0.37, which is moderate. The relationship has been stable: the 1-year correlation (0.27) sits close to the 3-year figure. Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 155.7 %².
Among the 15 assets we track against DX, QQQ sits near the bottom by co-movement, at rank #11. Over the last 12 months QQQ came out ahead by 5.8 percentage points (+20.5% against +26.3%).
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.
DX vs QQQ: side by side
| DX (Dynex Capital, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +20.5% | +26.3% |
| 5-year return | +40.2% | +95.4% |
| Volatility (ann.) | 21.5% | 19.6% |
| Beta vs S&P 500 | 0.70 | 1.28 |
| Max drawdown (3Y) | -25.8% | -22.8% |
| Market cap | $3.2B | – |
| P/E (trailing) | 4.1 | – |
| Dividend yield | 15.84% | 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 | DX | QQQ |
|---|---|---|
| 2022 | -15.4% | -32.6% |
| 2023 | +11.9% | +54.9% |
| 2024 | +13.6% | +25.6% |
| 2025 | +29.5% | +20.8% |
| 2026 | +3.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DX and QQQ good diversifiers for each other?
Reasonably. At 0.37, DX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DX and QQQ?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.27 over the last year and 0.45 over 5 years.
Is QQQ a good diversifier for DX?
Reasonably. At 0.37, DX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 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.
Use this data
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Related comparisons
Hubs: DX correlations · QQQ correlations
