JCI vs QQQ: Correlation
Measured on weekly returns over the past three years, Johnson Controls (JCI) and Invesco QQQ Trust (QQQ) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JCI and QQQ?
Across a 3-year window, the weekly returns of JCI and QQQ correlate at 0.40, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.03 versus 0.40 over 3 years. Stretching to 5 years gives 0.48, with an annualized covariance of 221.2 %².
Among the 32 assets we track against JCI, QQQ ranks #19 by 3-year correlation. Neither side won the trailing year by much: +30.9% against +26.3%. The relationship is regime-dependent: the rolling one-year correlation swung between -0.08 and 0.76 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.
JCI vs QQQ: side by side
| JCI (Johnson Controls) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +30.9% | +26.3% |
| 5-year return | +108.2% | +95.4% |
| Volatility (ann.) | 28.1% | 19.6% |
| Beta vs S&P 500 | 0.98 | 1.28 |
| Max drawdown (3Y) | -21.1% | -22.8% |
| Market cap | $86.1B | – |
| P/E (trailing) | 40.1 | – |
| Dividend yield | 1.11% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Industrials | 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 | JCI | QQQ |
|---|---|---|
| 2022 | -19.3% | -32.6% |
| 2023 | -7.6% | +54.9% |
| 2024 | +39.8% | +25.6% |
| 2025 | +53.0% | +20.8% |
| 2026 | +19.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JCI and QQQ good diversifiers for each other?
Reasonably. At 0.40, JCI and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between JCI and QQQ?
As of 2026-08-27, the correlation of weekly returns between JCI and QQQ is 0.40 over 3 years, 0.03 over 1 year and 0.48 over 5 years.
Is QQQ a good diversifier for JCI?
Reasonably. At 0.40, JCI and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 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
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Related comparisons
Hubs: JCI correlations · QQQ correlations
