EXR vs QQQ: Correlation
Extra Space Storage (EXR) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXR and QQQ?
Across a 3-year window, the weekly returns of EXR and QQQ correlate at 0.28, weak. Lately the two have drifted apart, with the 1-year correlation at 0.12 versus 0.28 over 3 years. Stretching to 5 years gives 0.45, with an annualized covariance of 141.7 %².
Within EXR's tracked universe of 33 assets, QQQ comes in at #23 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 20.7 percentage points (+5.6% for EXR against +26.3% for QQQ). The relationship is regime-dependent: the rolling one-year correlation swung between 0.11 and 0.67 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.
EXR vs QQQ: side by side
| EXR (Extra Space Storage) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +5.6% | +26.3% |
| 5-year return | -6.1% | +95.4% |
| Volatility (ann.) | 26.0% | 19.6% |
| Beta vs S&P 500 | 0.68 | 1.28 |
| Max drawdown (3Y) | -29.4% | -22.8% |
| Market cap | $31.5B | – |
| P/E (trailing) | 31.6 | – |
| Dividend yield | 4.50% | 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 | EXR | QQQ |
|---|---|---|
| 2022 | -32.8% | -32.6% |
| 2023 | +13.9% | +54.9% |
| 2024 | -2.8% | +25.6% |
| 2025 | -8.9% | +20.8% |
| 2026 | +12.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXR 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 EXR and QQQ?
Using weekly returns as of 2026-08-27: 0.28 over 3 years, with 0.12 over the last year and 0.45 over 5 years.
Is QQQ a good diversifier for EXR?
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?
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
$ curl https://www.pairbook.io/api/v1/pairs/exr-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/exr-vs-qqq/)
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Related comparisons
Hubs: EXR correlations · QQQ correlations
