DY vs QQQ: Correlation
Measured on weekly returns over the past three years, Dycom Industries, Inc. (DY) and Invesco QQQ Trust (QQQ) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DY and QQQ?
Over the past 3 years, DY and QQQ moved with a correlation of 0.31, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.16 versus 0.31 over 3 years. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 260.0 %².
Among the 11 assets we track against DY, QQQ sits near the bottom by co-movement, at rank #8. Over the last 12 months QQQ came out ahead by 5.8 percentage points (+20.5% against +26.3%). Note the risk asymmetry: DY runs 2.2 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.
DY vs QQQ: side by side
| DY (Dycom Industries, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +20.5% | +26.3% |
| 5-year return | +304.3% | +95.4% |
| Volatility (ann.) | 43.4% | 19.6% |
| Beta vs S&P 500 | 0.97 | 1.28 |
| Max drawdown (3Y) | -42.4% | -22.8% |
| Market cap | $9.3B | – |
| P/E (trailing) | 28.4 | – |
| 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 | DY | QQQ |
|---|---|---|
| 2022 | -0.2% | -32.6% |
| 2023 | +23.0% | +54.9% |
| 2024 | +51.2% | +25.6% |
| 2025 | +94.1% | +20.8% |
| 2026 | -8.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DY and QQQ good diversifiers for each other?
Reasonably. At 0.31, DY and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DY and QQQ?
The DY/QQQ correlation stands at 0.31 on a 3-year window (1 year: 0.16, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for DY?
Reasonably. At 0.31, DY and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 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/dy-vs-qqq.json
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Related comparisons
Hubs: DY correlations · QQQ correlations
