JBL vs QQQ: Correlation
Jabil (JBL) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JBL and QQQ?
Across a 3-year window, the weekly returns of JBL and QQQ correlate at 0.55, moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. Stretching to 5 years gives 0.57, with an annualized covariance of 433.4 %².
By 3-year correlation, QQQ places #18 of the 34 assets tracked against JBL. Their recent paths diverged sharply: over the last 12 months JBL outperformed by 24.1 percentage points (+50.4% for JBL against +26.3% for QQQ). The rolling one-year correlation moved between 0.40 and 0.76 over the past three years, a moderate range. Risk is not evenly split, since JBL carries 2.1 times the volatility of the other side.
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.
JBL vs QQQ: side by side
| JBL (Jabil) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +50.4% | +26.3% |
| 5-year return | +405.5% | +95.4% |
| Volatility (ann.) | 40.6% | 19.6% |
| Beta vs S&P 500 | 1.47 | 1.28 |
| Max drawdown (3Y) | -36.8% | -22.8% |
| Market cap | $32.7B | – |
| P/E (trailing) | 38.9 | – |
| Dividend yield | 0.10% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Information Technology | 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 | JBL | QQQ |
|---|---|---|
| 2022 | -2.5% | -32.6% |
| 2023 | +87.4% | +54.9% |
| 2024 | +13.3% | +25.6% |
| 2025 | +58.7% | +20.8% |
| 2026 | +37.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JBL and QQQ good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between JBL and QQQ?
The JBL/QQQ correlation stands at 0.55 on a 3-year window (1 year: 0.48, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for JBL?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 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/jbl-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/jbl-vs-qqq/)
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Related comparisons
Hubs: JBL correlations · QQQ correlations
