JBGS vs QQQ: Correlation
Measured on weekly returns over the past three years, JBG SMITH Properties (JBGS) and Invesco QQQ Trust (QQQ) carry a correlation of 0.21, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JBGS and QQQ?
Over the past 3 years, JBGS and QQQ moved with a correlation of 0.21, which is weak. The link has loosened recently: the 1-year correlation (0.01) runs below the 3-year figure (0.21). Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 139.7 %².
Among the 10 assets we track against JBGS, QQQ sits near the bottom by co-movement, at rank #7. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 66.7 percentage points (-40.4% for JBGS against +26.3% for QQQ). Note the risk asymmetry: JBGS runs 1.7 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.
JBGS vs QQQ: side by side
| JBGS (JBG SMITH Properties) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -40.4% | +26.3% |
| 5-year return | -49.3% | +95.4% |
| Volatility (ann.) | 33.7% | 19.6% |
| Beta vs S&P 500 | 0.68 | 1.28 |
| Max drawdown (3Y) | -52.2% | -22.8% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 5.67% | 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 | JBGS | QQQ |
|---|---|---|
| 2022 | -31.0% | -32.6% |
| 2023 | -6.1% | +54.9% |
| 2024 | -4.5% | +25.6% |
| 2025 | +15.2% | +20.8% |
| 2026 | -26.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JBGS and QQQ good diversifiers for each other?
A fair diversifier. At 0.21, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between JBGS and QQQ?
The JBGS/QQQ correlation stands at 0.21 on a 3-year window (1 year: 0.01, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for JBGS?
A fair diversifier. At 0.21, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.21 mean?
A reading of 0.21 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/jbgs-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/jbgs-vs-qqq/)
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Related comparisons
Hubs: JBGS correlations · QQQ correlations
