JELD vs QQQ: Correlation
Measured on weekly returns over the past three years, JELD-WEN Holding, Inc. (JELD) 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 JELD and QQQ?
Across a 3-year window, the weekly returns of JELD and QQQ correlate at 0.34, moderate. The link has tightened recently: the 1-year correlation (0.48) runs above the 3-year figure (0.34). Stretching to 5 years gives 0.38, with an annualized covariance of 529.6 %².
By 3-year correlation, QQQ places #10 of the 16 assets tracked against JELD. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 90.0 percentage points (-63.7% for JELD against +26.3% for QQQ). Note the risk asymmetry: JELD runs 4.1 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.
JELD vs QQQ: side by side
| JELD (JELD-WEN Holding, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -63.7% | +26.3% |
| 5-year return | -92.5% | +95.4% |
| Volatility (ann.) | 80.7% | 19.6% |
| Beta vs S&P 500 | 2.01 | 1.28 |
| Max drawdown (3Y) | -95.5% | -22.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | JELD | QQQ |
|---|---|---|
| 2022 | -63.4% | -32.6% |
| 2023 | +95.6% | +54.9% |
| 2024 | -56.6% | +25.6% |
| 2025 | -70.0% | +20.8% |
| 2026 | -11.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JELD and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between JELD and QQQ?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.48 over the last year and 0.38 over 5 years.
Is QQQ a good diversifier for JELD?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: JELD correlations · QQQ correlations
