JL vs QQQ: Correlation
J-Long Group Limited - Class A (JL) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.02.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JL and QQQ?
Over the past 3 years, JL and QQQ moved with a correlation of 0.02, which is near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.05) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 223.3 %².
Among the 58 assets we track against JL, QQQ ranks #19 by 3-year correlation. The last year tells two different stories: QQQ led by 42.7 percentage points, -16.4% for JL against +26.3% for QQQ. Note the risk asymmetry: JL runs 29.6 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.
JL vs QQQ: side by side
| JL (J-Long Group Limited - Class A) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -16.4% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 580.0% | 19.6% |
| Beta vs S&P 500 | -1.02 | 1.28 |
| Max drawdown (3Y) | -98.6% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 6.5 | – |
| 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 | JL | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | – | +54.9% |
| 2024 | – | +25.6% |
| 2025 | +67.1% | +20.8% |
| 2026 | -20.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JL and QQQ good diversifiers for each other?
Yes. With a correlation of 0.02, JL and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between JL and QQQ?
The JL/QQQ correlation stands at 0.02 on a 3-year window (1 year: 0.05, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for JL?
Yes. With a correlation of 0.02, JL and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.02 mean?
A reading of 0.02 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: JL correlations · QQQ correlations
