KEY vs QQQ: Correlation
KeyCorp (KEY) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KEY and QQQ?
On 3 years of weekly data the KEY/QQQ correlation comes out at 0.40, moderate. The past 12 months show a weaker link (0.15) than the 3-year average (0.40). The 5-year figure is 0.38, and annualized covariance runs at 252.5 %².
Within KEY's tracked universe of 59 assets, QQQ comes in at #49 by 3-year correlation. On 12-month performance QQQ holds a 7.9-point edge, +18.4% against +26.3%. This link changes with the market regime, having swung between 0.09 and 0.70 on a rolling one-year basis. One caveat on sizing: KEY is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
KEY vs QQQ: side by side
| KEY (KeyCorp) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +18.4% | +26.3% |
| 5-year return | +38.0% | +95.4% |
| Volatility (ann.) | 32.1% | 19.6% |
| Beta vs S&P 500 | 1.25 | 1.28 |
| Max drawdown (3Y) | -32.2% | -22.8% |
| Market cap | $23.5B | – |
| P/E (trailing) | 13.0 | – |
| Dividend yield | 3.71% | 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 | KEY | QQQ |
|---|---|---|
| 2022 | -21.7% | -32.6% |
| 2023 | -11.5% | +54.9% |
| 2024 | +25.3% | +25.6% |
| 2025 | +26.2% | +20.8% |
| 2026 | +8.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KEY and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between KEY and QQQ?
As of 2026-08-27, the correlation of weekly returns between KEY and QQQ is 0.40 over 3 years, 0.15 over 1 year and 0.38 over 5 years.
Is QQQ a good diversifier for KEY?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/key-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/key-vs-qqq/)
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Related comparisons
Hubs: KEY correlations · QQQ correlations
