KDP vs QQQ: Correlation
Measured on weekly returns over the past three years, Keurig Dr Pepper (KDP) and Invesco QQQ Trust (QQQ) carry a correlation of 0.06, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KDP and QQQ?
Across a 3-year window, the weekly returns of KDP and QQQ correlate at 0.06, near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of -0.02 lands near the 3-year figure. Stretching to 5 years gives 0.18, with an annualized covariance of 25.7 %².
Within KDP's tracked universe of 30 assets, QQQ comes in at #18 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 15.4 points (+10.9% versus +26.3%). The rolling one-year correlation moved between -0.04 and 0.30 over the past three years, a moderate range.
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.
KDP vs QQQ: side by side
| KDP (Keurig Dr Pepper) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +10.9% | +26.3% |
| 5-year return | +3.1% | +95.4% |
| Volatility (ann.) | 23.6% | 19.6% |
| Beta vs S&P 500 | 0.14 | 1.28 |
| Max drawdown (3Y) | -31.0% | -22.8% |
| Market cap | $43.4B | – |
| P/E (trailing) | 32.5 | – |
| Dividend yield | 2.86% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Consumer Staples | 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 | KDP | QQQ |
|---|---|---|
| 2022 | -1.2% | -32.6% |
| 2023 | -4.2% | +54.9% |
| 2024 | -1.1% | +25.6% |
| 2025 | -10.1% | +20.8% |
| 2026 | +16.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that QQQ holds KDP at a 0.19% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are KDP and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.06 means the two rarely move for the same reasons.
FAQ
What is the correlation between KDP and QQQ?
Using weekly returns as of 2026-08-27: 0.06 over 3 years, with -0.02 over the last year and 0.18 over 5 years.
Is QQQ a good diversifier for KDP?
By historical standards, yes. A correlation of 0.06 means the two rarely move for the same reasons.
What does a correlation of 0.06 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.
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Related comparisons
Hubs: KDP correlations · QQQ correlations
