EQIX vs QQQ: Correlation
Measured on weekly returns over the past three years, Equinix (EQIX) and Invesco QQQ Trust (QQQ) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQIX and QQQ?
On 3 years of weekly data the EQIX/QQQ correlation comes out at 0.34, moderate. The link has loosened recently: the 1-year correlation (0.16) runs below the 3-year figure (0.34). The 5-year figure is 0.47, and annualized covariance runs at 161.0 %².
By 3-year correlation, QQQ places #20 of the 30 assets tracked against EQIX. The trailing year gives EQIX the advantage: +39.1% versus +26.3%, a 12.8-point spread. The relationship is regime-dependent: the rolling one-year correlation swung between 0.03 and 0.75 over the past three years, so this pair behaves very differently depending on the market environment.
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.
EQIX vs QQQ: side by side
| EQIX (Equinix) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +39.1% | +26.3% |
| 5-year return | +41.6% | +95.4% |
| Volatility (ann.) | 24.4% | 19.6% |
| Beta vs S&P 500 | 0.63 | 1.28 |
| Max drawdown (3Y) | -24.6% | -22.8% |
| Market cap | $106.2B | – |
| P/E (trailing) | 69.4 | – |
| Dividend yield | 1.82% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Real Estate | 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 | EQIX | QQQ |
|---|---|---|
| 2022 | -21.1% | -32.6% |
| 2023 | +25.4% | +54.9% |
| 2024 | +19.5% | +25.6% |
| 2025 | -16.9% | +20.8% |
| 2026 | +42.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQIX and QQQ good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EQIX and QQQ?
As of 2026-08-27, the correlation of weekly returns between EQIX and QQQ is 0.34 over 3 years, 0.16 over 1 year and 0.47 over 5 years.
Is QQQ a good diversifier for EQIX?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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.
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Related comparisons
Hubs: EQIX correlations · QQQ correlations
