JPM vs QQQ: Correlation
How closely do JPMorgan Chase (JPM) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JPM and QQQ?
On 3 years of weekly data the JPM/QQQ correlation comes out at 0.48, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.21 versus 0.48 over 3 years. The 5-year figure is 0.50, and annualized covariance runs at 217.5 %².
By 3-year correlation, QQQ places #25 of the 36 assets tracked against JPM. Over the last 12 months QQQ came out ahead by 5.7 percentage points (+20.6% against +26.3%). This link changes with the market regime, having swung between 0.17 and 0.78 on a rolling one-year basis.
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.
JPM vs QQQ: side by side
| JPM (JPMorgan Chase) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +20.6% | +26.3% |
| 5-year return | +150.2% | +95.4% |
| Volatility (ann.) | 23.2% | 19.6% |
| Beta vs S&P 500 | 1.01 | 1.28 |
| Max drawdown (3Y) | -24.4% | -22.8% |
| Market cap | $941.6B | – |
| P/E (trailing) | 15.2 | – |
| Dividend yield | 1.68% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Financials | 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 | JPM | QQQ |
|---|---|---|
| 2022 | -12.6% | -32.6% |
| 2023 | +30.6% | +54.9% |
| 2024 | +44.3% | +25.6% |
| 2025 | +37.3% | +20.8% |
| 2026 | +11.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JPM and QQQ good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between JPM and QQQ?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.21 over the last year and 0.50 over 5 years.
Is QQQ a good diversifier for JPM?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 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/jpm-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/jpm-vs-qqq/)
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Related comparisons
Hubs: JPM correlations · QQQ correlations
